MENLO PARK, Calif.—It's been a bit of an up-and-down for Pacific Biosciences (PacBio) lately. On Sept. 1, the company was named as a defendant in a complaint filed by Helicos Biosciences Corp. claiming infringement of Helicos patents in the making, using, and selling PacBio's SMRT technology for single molecule sequencing of DNA and teaching customers how to use the SMRT technology and PacBio RS sequencing platform.
Then good news on Oct. 26 as PacBio announced an initial public offering of 12.5 million shares of its common stock at $16 per share to raise $200 million—and a couple days later, the Wall Street Journal reported that the company was closing 44 cents higher—a 2.8 percent jump--at $16.44, in by the close of Nasdaq trading.
Now, some bad news again as GenomeWeb Daily News reported Nov. 4 that Affymetrix Inc. has filed a lawsuit against Pacific Biosciences, alleging misconduct in its hiring of former Affymetrix employees.
In a case filed in California's Santa Clara County Superior Court, Affymetrix alleged, among other things, that "PacBio engaged in tortious misconduct by conspiring with current and former Affymetrix employees to solicit and hire current Affymetrix employees for the PacBio workforce," according to a spokesperson for Santa Clara, Calif.-based Affymetrix, who spoke with GenomeWeb Daily News. Reportedly, some former employees of Affymetrix are also named as defendants in the case.
The spokesperson gave no further comment on the litigation and PacBio also declined comment, reportedly not having yet been served any papers related to the case.
Then good news on Oct. 26 as PacBio announced an initial public offering of 12.5 million shares of its common stock at $16 per share to raise $200 million—and a couple days later, the Wall Street Journal reported that the company was closing 44 cents higher—a 2.8 percent jump--at $16.44, in by the close of Nasdaq trading.
Now, some bad news again as GenomeWeb Daily News reported Nov. 4 that Affymetrix Inc. has filed a lawsuit against Pacific Biosciences, alleging misconduct in its hiring of former Affymetrix employees.
In a case filed in California's Santa Clara County Superior Court, Affymetrix alleged, among other things, that "PacBio engaged in tortious misconduct by conspiring with current and former Affymetrix employees to solicit and hire current Affymetrix employees for the PacBio workforce," according to a spokesperson for Santa Clara, Calif.-based Affymetrix, who spoke with GenomeWeb Daily News. Reportedly, some former employees of Affymetrix are also named as defendants in the case.
The spokesperson gave no further comment on the litigation and PacBio also declined comment, reportedly not having yet been served any papers related to the case.
