Roche announces termination of 2013 Development, Commercialization and License Agreement with Pacific Biosciences

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Dec 15, 2016, 10:57 ET

PLEASANTON, Calif., Dec. 15, 2016 /PRNewswire/ -- Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that it has officially notified Pacific Bioscience (PacBio) of its intention to terminate its agreement and efforts to develop a sequencing instrument for use in the clinical research and clinical market using their Single Molecule, Real-Time (SMRT®) technology.

With this termination, Roche no longer retains rights to this technology and PacBio is free to approach any market segments with their SMRT technology.

"As a result of this decision we will have greater focus on our internal development efforts and drive our long term strategy which is to be a leader in clinical diagnostic sequencing," said Neil Gunn, Head of Roche Sequencing Solutions. "We are continuing to actively pursue multiple technologies and commercial strategies internally and externally to ensure we address the specific needs of our customers in the clinical diagnostic sequencing market segment."

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Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people's lives.

Roche is the world's largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management. The combined strengths of pharmaceuticals and diagnostics under one roof have made Roche the leader in personalised healthcare – a strategy that aims to fit the right treatment to each patient in the best way possible.

Founded in 1896, Roche continues to search for better ways to prevent, diagnose and treat diseases and make a sustainable contribution to society. Twenty-nine medicines developed by Roche are included in the World Health Organization Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and cancer medicines. Roche has been recognised as the Group Leader in sustainability within the Pharmaceuticals, Biotechnology & Life Sciences Industry eight years in a row by the Dow Jones Sustainability Indices.

The Roche Group, headquartered in Basel, Switzerland, is active in over 100 countries and in 2015 employed more than 91,700 people worldwide. In 2015, Roche invested CHF 9.3 billion in R&D and posted sales of CHF 48.1 billion. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit www.roche.com. *All trademarks used or mentioned in this release are protected by law.

For further information, please contact:

Roche Sequencing Solutions
Elizabeth Baxter
Corporate Communications
Mobile: 925.523.8812
[email protected]

SOURCE Roche