In order to finance the activities relating to research and development, Pacific Biosciences of California Inc., a biological research Company has decided to file initial public offering issue worth $200 million with the Securities and Exchange Commission, inclusive of all the charges.

The Company is on its way of developing DNA-deciphering machines that would hit the medical centers in a few years. The machine called PacBio RS, which is a third-generation sequencing platform, will be able to examine the synthesis and regulation of DNA, RNA and protein. For the project to get completed, the Company needs funding that would be provided by the IPO.

In the first half of the year, Pacific Biosciences suffered losses worth $63 million on revenue of $1.2 million. During this period only, the Company incurred $52.4 million on the expenditure in research and development.

No details have been revealed about the number of shares to be traded for IPO, which will trade under the ticker "PACB" on Nasdaq. The offer’s underwriters are J.P. Morgan and Morgan Stanley.

The proceedings of the IPO would be used by the Company to foster its sales and marketing activities. It would also be employed to enhance the manufacturing activities by infusing the money in Research and Development department.

The genome platform will be provided to hospitals by 2013 for a cost not more than $1,000 that can identify a genome profile in 15 minutes.