PacBio Announces Appointment of Genomics Industry Veteran Jeff Eidel as Chief Commercial Officer

MENLO PARK, Calif., July 21, 2022 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Jeff Eidel as Chief Commercial Officer, effective August 16, 2022. In this role, Mr. Eidel will have global responsibility for all commercial activity including sales, marketing, and customer support.

"Jeff is a strong leader and an incredible executive, and I expect him to have a significant impact on the entire organization," said Christian Henry, President and Chief Executive Officer of PacBio. "Jeff is joining PacBio at a critical time as we continue in our efforts to expand our sequencing portfolio to become a multiplatform solution provider, scale our global commercial footprint and move towards profitability. Jeff has a strong track record of success leading cross-functional teams and growing high-performing organizations in commercial, finance, and corporate and business development."

Mr. Eidel joins PacBio from Cradle Genomics, a reproductive health startup where he was most recently Chief Executive Officer after joining the company in 2019 as Chief Operating Officer. Prior to Cradle Genomics, Mr. Eidel was Head of Corporate and Business Development at Illumina. During his 13 years at Illumina, he also held critical positions focused on negotiating and integrating acquisitions, leading deals with several of Illumina's largest customers and business partners, catalyzing global growth, and introducing new products. Before Illumina, Mr. Eidel held roles with Inovio Pharmaceuticals, Corillian Corporation, and KPMG.

"It's an exciting time to be in the sequencing industry with many new entrants looking to disrupt an established market. PacBio's highly accurate sequencing technologies are well-differentiated and offer the company the rare opportunity to transform the market and delight customers with solutions capable of advancing science," said Mr. Eidel. "I look forward to working with Christian and the PacBio team to capitalize on this opportunity helping to strengthen our global footprint and accelerate the company's growth."

Pacific Biosciences of California, Inc. (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 technology under development stem from two highly differentiated core technologies focused on accuracy, quality, and completeness which include our existing HiFi long-read sequencing and our emerging 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.

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, including statements relating to future availability, uses, accuracy, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies; commercial plans, including efforts to expand the Company's growth, product portfolio and footprint; efforts to become profitable and transform the market; anticipated effective date of appointment of chief commercial officer and related responsibilities; and other future 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 in connection with the future effective date of the chief commercial officer appointment. Readers are strongly encouraged to read the full cautionary statements contained in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Forms 8-K, 10-K, and 10-Q. The Company disclaims any obligation to update or revise any forward-looking statements.

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SOURCE Pacific Biosciences of California, Inc.