Nan Fung and Lam Research are set to exit the DNA sequencing technology developer in an $800m acquisition by market peer Pacific Biosciences.
US-based DNA sequencing platform developer Omniome agreed on Tuesday to an acquisition by sequencing technology provider Pacific Biosciences (PacBio) enabling property developer Nan Fung and semiconductor technology producer Lam Research to exit.
The transaction involves approximately $600m up front, consisting of 9.4 million PacBio common shares and $300m in cash, with a further $200m in cash and stock contingent upon the completion of certain milestones.
The deal is supported by a $300m private investment in public equity transaction backed by…
