Ebb & Flow

In the largest untranched biotech financing this year, genome sequencing company Pacific Biosciences (formerly Nanofluidics) raised $100 million last week in a series E round. The company now has raised $178 million since it was founded in 2004.

The proceeds are intended to take the company through commercialization of its single-molecule, real-time (SMRT) DNA genome sequencing technology in 2010...