Roche, Pacific Biosciences seal $75M clinical Dx partnership

Struggling gene sequencer Pacific Biosciences ($PACB) signed a diagnostics product-development deal with industry giant Roche ($RHHBY) worth as much as $75 million. Roche pays the Menlo Park, CA, company $35 million up front but will fork over up to $40 million more as developmental milestones are met. Pacific Biosciences will develop and make gene sequencing and other clinical products and license them exclusively to Roche. Roche, in turn, gains exclusive global rights to sell the products for human in vitro diagnostics. Pacific Biosciences is known for creating cutting-edge technology designed to quickly and cheaply decode DNA. FierceBiotech | FierceDiagnostics