Fortunately for medical device start-ups, it takes more than a pandemic to put venture capitalists off doing deals.
Even if the sequencing giant doesn't suffer in the short term from the death of its bid for Pacbio, long-read tech is nipping at its heels.
Investors swerve traditional medical devices in favour of artificial intelligence-enabled diagnostics.
Illumina’s $1.2bn buy of Pacific Biosciences raises questions about why it shunned another long-read sequencing player, Oxford Nanopore Technologies.
The first quarter of this year saw more venture funding raised by medical device groups than any other period since 2010.
Can the company's $1.5bn valuation be justified when last year it took just $23.5m in orders?