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Genetic testing firm Ambry Genetics and Pacific Biosciences of California Inc. are working together to find the genetic cause of rare diseases in pediatric patients.PacBio (Nasdaq: PACB), a biotechnology company in Menlo Park valued at $524 million, manufactures gene sequencing technology for scientists and clinical researchers.
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Laboratory service provider Labcorp said on Wednesday it will acquire Softbank-backed Invitae Corp's assets auctioned through a voluntary bankruptcy protection process, a few months after the genetic...
Labcorp will acquire all of the bankrupt firm's assets on a going concern basis for $239 million in cash consideration and other non-cash consideration, the companies said in separate statements. In February, Invitae filed for voluntary Chapter 11 protection in a U.S. bankruptcy court and said that it intended to pursue a sale process. Invitae's estimated assets were in the $500 million - $1 billion range, while its liabilities were in the $1 billion - $10 billion range, according to the bankruptcy filing.