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Pacific Biosciences Announces Pricing of Initial Public Offering of Common Stock

Wednesday, October 27, 2010

MENLO PARK, Calif., Oct 26, 2010 (BUSINESS WIRE) — Pacific Biosciences of California, Inc. (NASDAQ: PACB), developer of
single molecule, real-time (SMRT(TM)) technology for biological analysis,
announced today the pricing of its initial public offering of 12,500,000
shares of its common stock at $16.00 per share. All shares are being
sold by the company. The Company is also offering its
underwriters a 30-day option to purchase up to 1,875,000 shares at the
initial public offering price to cover overallotments, if any. The
shares are expected to begin trading on Wednesday, October 27, 2010 on
the NASDAQ Global Select Market under the ticker symbol “PACB”.

J.P. Morgan Securities LLC and Morgan Stanley & Co. Incorporated are
acting as joint book-running managers for the offering. Deutsche Bank
Securities Inc. and Piper Jaffray & Co. are acting as co-managers for
the offering.

The Company also announced today that the registration statement
relating to this offering was declared effective by the U.S. Securities
and Exchange Commission (SEC). This offering is being made solely by
means of a written prospectus, a copy of which may be obtained from
either of the following investment banks:

  • J.P. Morgan Securities LLC, via telephone: (866) 803-9204; or standard
    mail at c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
    Edgewood, NY 11717
  • Morgan Stanley & Co. Incorporated, via telephone: (866) 718-1649;
    email: prospectus@morganstanley.com;
    or standard mail at Morgan Stanley & Co. Incorporated, Attn:
    Prospectus Department, 180 Varick Street, New York, NY 10014.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sales of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.

About Pacific Biosciences

Pacific Biosciences’ mission is to transform the way humankind acquires,
processes and interprets data from living systems through the design,
development and commercialization of innovative tools for biological
research. The company has developed a novel approach to studying the
synthesis and regulation of DNA, RNA and proteins. Combining recent
advances in nanofabrication, biochemistry, molecular biology, surface
chemistry and optics, Pacific Biosciences has created a powerful
technology platform called single molecule, real-time, or SMRT(TM),
technology. SMRT technology enables real-time analysis of biomolecules
with single molecule resolution, which has the potential to transform
the understanding of biological systems by providing a window into these
systems that has not previously been open for scientific study.

SOURCE: Pacific Biosciences of California, Inc.

For Pacific Biosciences
Media:
Nicole Litchfield, 415-793-6468
nicole@bioscribe.com
or
Pacific Biosciences
Investors:
Ben Gong, 650-521-8203
ir@pacificbiosciences.com

Copyright Business Wire 2010