Pacific Biosciences of California Inc (PacBio), the California-based developer of high-quality and highly accurate sequencing solutions, has launched of a new program called PacBio Capital to expand access to PacBio's highly accurate sequencing systems by providing customers with flexible financing options.
The moves makes its advanced sequencing systems more accessible to researchers and laboratories by offering flexible leasing options with competitive rates.
PacBio Capital provides qualified customers with a choice of capital and operating lease structures. These leases come with highly competitive rates and a unique six-month "same as cash" financing option.
PacBio has partnered with Mitsubishi HC Capital, a vendor finance company with extensive experience in this sector, to manage PacBio Capital in the United States.
Global financing offerings are also available globally through partners like Evosciences.
The initiative should be beneficial to both the company and its customers, potentially accelerating the adoption of PacBio's technology in various research fields. Additionally, the partnership with Mitsubishi HC Capital strengthens the program's implementation in the United States.
"It's a win/win for PacBio and our current and future customers," said Jeff Eidel, Chief Commercial Officer at PacBio. "With PacBio Capital, we aim to get more systems into the hands of customers faster by offering them the flexibility to lease our products under the terms that work best for them."
Investors responded positively, sending PacBio shares over 10% higher on Wednesday at $11.83.
PacBio is designing, developing and manufacturing advanced sequencing solutions, including the Revio, Onso, and Sequel IIe.