PacBio, once slated to be acquired by Illumina, is taking on the DNA giant
Pacific Biosciences, a company that Illumina once tried to buy, is coming for its former suitor.
More than three years ago, the companies called off their $1.2 billion merger after antitrust opposition. Back then, Pacific Biosciences, known as PacBio, was in a financially precarious position but is now posing a competitive threat to Illumina.
PacBio is capitalizing on the demand for reading longer pieces of DNA, while expanding into a market dominated by Illumina. At the same time, Illumina finds itself with slowing sales, an interim CEO and another acquisition that could be torpedoed because of antitrust regulators.
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