PacBio Announces PacBio Capital

Rhea-AI Summary

PacBio announces PacBio Capital program for leasing sequencing systems, expanding access and reaching new markets.

New Program Expands Access to PacBio's Highly Accurate Sequencing Systems by Providing Flexible Financing  

MENLO PARK, Calif., Sept. 12, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced PacBio Capital, a program that offers customers the ability to lease PacBio sequencing systems – Revio, Onso and Sequel IIe – easily and cost-effectively.

"Through PacBio Capital, we can expand our ability to reach customers and new markets," said Christian Henry, President and Chief Executive Officer of PacBio. "By making it possible to lease our game-changing sequencing systems, customers can conserve capital, and keep monthly payments down while continuing with their groundbreaking research."

PacBio Capital allows qualified customers to choose capital and operating lease structures with highly competitive rates and a six-month same as cash financing option. The streamlined credit and funding process can enable labs to fast-track their purchase of PacBio systems and allow more customers to benefit from the sub-$1,000 HiFi human genome on the recently released Revio system.

"It's a win/win for PacBio and our current and future customers," said Jeff Eidel, Chief Commercial Officer at PacBio. "With PacBio Capital, we aim to get more systems into the hands of customers faster by offering them the flexibility to lease our products under the terms that work best for them."

PacBio has partnered with Mitsubishi HC Capital, a vendor finance company headquartered in Edina, Minn. with more than 30 years of experience in this sector to manage PacBio Capital in the U.S. Additional financing offerings are available globally through partners including Evosciences. The program is available now.

About PacBio
PacBio (NASDAQ: PACB) is a premier life science technology company that is designing, developing and manufacturing advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies stem from two highly differentiated core technologies focused on accuracy, quality and completeness which include our HiFi long-read sequencing and our SBB® short-read sequencing technologies. Our products address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. 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.

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. All statements, other than statements of historical fact, are forward-looking statements, including statements relating to the uses, accuracy, coverage, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies; ability to reach new customers and markets; plans to get more systems into customers' hands; and other forward-looking statements. 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, including, among others, potential product performance and quality issues; rapidly changing technologies and extensive competition in genomic sequencing that could make the products in development obsolete or non-competitive; supply chain risks; customers and prospective customers curtailing or suspending activities utilizing our products; and third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate patents or proprietary rights. Readers are strongly encouraged to read the full cautionary statements contained in PacBio's filings with the Securities and Exchange Commission, including the risks set forth in PacBio's Forms 8-K, 10-K, and 10-Q. PacBio disclaims any obligation to update or revise any forward-looking statements.

Contacts

Investors:
Todd Friedman
ir@pacificbiosciences.com                                   

Media:
Lizelda Lopez
pr@pacificbiosciences.com

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SOURCE Pacific Biosciences of California, Inc.