New Collaboration Builds on Existing Relationship Between the Two Companies to Develop Desktop Systems for the Clinical Market in China. Berry Genomics to Purchase at Least 50 Instruments at Product Launch.
MENLO PARK, Calif. and BEIJING, Jan. 11, 2022 (GLOBE NEWSWIRE) — PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing platforms, and Berry Genomics, a leading company in clinical genomics and life science in China, today announced a collaboration to provide PacBio long read sequencing technology to the Chinese clinical market. Under the new agreement, PacBio will develop its first long read desktop sequencing platform with funding and guidance provided by Berry Genomics. When the agreed product requirements are met, Berry Genomics will purchase at least 50 systems for use and sale throughout China.
The two companies’ collaboration includes development, regulatory authorization, manufacturing, and distribution. The desktop long read sequencing instrument will help Berry Genomics expand its footprint in the perinatal and carrier testing market. Berry Genomics will also sell the instrument and consumables in China. This will enable laboratories across China to access PacBio long read sequencing, in an easy-to-use, small footprint desktop format, at a lower capital investment than prior PacBio systems.
“Bringing the power and accuracy of PacBio long read HiFi sequencing to the desktop offers the potential to unlock new research and clinical applications for customers in China,” said Christian Henry, Chief Executive Officer and President of PacBio. “Berry Genomics has been a great partner in facilitating PacBio’s entry and initial success in the Chinese clinical market. By working together to introduce this new instrument in China, we will be able to bring the benefits of HiFi sequencing to many more laboratories.”
This new collaboration builds off the earlier success of the 2019 agreement between the two companies whereby Berry Genomics supported the regulatory authorization of the PacBio Sequel II instrument for clinical use in China and sold the instrument and consumables. The 2019 agreement established the importance of high accuracy, long read data in the carrier testing space. This new agreement will help expand the use of long read sequencing by making the HiFi sequencing chemistry more accessible to a broader range of clinical labs.
“PacBio and Berry Genomics have had great success with the Sequel II instrument in China,” said Dr. Yang Gao, President of Berry Genomics. “Since we launched the Sequel II based clinical program in China, we have seen great interest and excitement from the medical community. We believe that bringing long read sequencing technology to the desktop form factor will enable this technology to reach more laboratories and ultimately have a greater impact across the large Chinese clinical market.”
About PacBio
Pacific Biosciences of California, Inc. (NASDAQ: PACB) is empowering life scientists with highly accurate sequencing platforms. The company’s innovative instruments are based on Single Molecule, Real-Time (SMRT®) Sequencing technology, which delivers a comprehensive view of genomes, transcriptomes, and epigenomes, enabling access to the full spectrum of genetic variation in any organism. Cited in thousands of peer-reviewed publications, PacBio® sequencing systems are in use by scientists around the world to drive discovery in human biomedical research, plant and animal sciences, and microbiology. For more information, please visit www.pacb.com and follow @PacBio.
PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.
About Berry Genomics
Founded in May 2010, Berry Genomics is a leading company in clinical genomics and life science in China. Berry Genomics is dedicated to research, development and commercialization of genetic test technologies in clinical applications. Berry Genomics aims to assist accurate diagnosis of diseases throughout the full human life circle, and to improve human health.
As a company with strong R&D capability, Berry Genomics pioneered the first NGS-based genetic test, NIPT, in China back in 2010. The company currently provides NGS-based tests for many genetic diseases and cancer from preconception to adulthood.
Berry Genomics has around 1500 employees dedicating to developing products and providing services for over 4000 organizations and facilities home and abroad, including hospitals, research institutions, universities and corporations. Berry Genomics has been listed on A-share market in China since 2017 under the stock code: 000710.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements relating to future availability, release dates, uses, accuracy, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies, the suitability or utility of such products or technologies for particular applications or projects, including in connection with clinical applications in China and other non-United States jurisdictions; anticipated purchases by Berry of PacBio benchtop sequencing systems under development; anticipated regulatory approvals and footprint expansion in certain markets in China; potential to unlock new applications for Berry’s customers in China; potential to reach more laboratories and have a greater impact in Chinese markets; and other future events. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements contained in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Forms 8-K, 10-K, and 10-Q. The Company disclaims any obligation to update or revise any forward-looking statements.
Contacts
Investors:
Todd Friedman
ir@pacificbiosciences.com
Media:
Kathy Lynch
pr@pacificbiosciences.com
Harry Liu
Liuhui1@berrygenomics.com
