Pacific Biosciences sold select short‑read sequencing intellectual property and related assets to Illumina for $50 million in cash, receiving about $48.1 million net after contingent payments, according to a U.S. SEC filing. The assets include technology tied to Apton Biosystems and PacBio’s Onso short‑read platform, a product derived from the Omniome and Apton acquisitions. PacBio said the sale sharpens its focus on long‑read sequencing and strengthens its balance sheet as it prioritizes adoption of its differentiated long‑read platform. CEO Christian Henry framed the move as strategic reallocation of resources; PacBio shares fell roughly 5% on the news while Illumina acquired short‑read IP to bolster its portfolio.