Shenzhen MGI Tech raises US$200m

Shenzhen-based MGI Tech Co. Ltd, the gene-sequencing equipment unit of the Chinese genome giant BGI Group, says it has raised US$200 million in its first round, with investors including CITIC Goldstone, Green Pine Capital Partners, and Orient Securities Capital Investment. 

Established in 2016, MGI Tech specializes in developing and manufacturing biological equipment such as genetic sequencers, mass spectrometers and medical imaging platforms. In 2013, it acquired US genetic sequencer maker Complete Genomics Inc. In 2014, MGI Tech won approval from China’s food and drug regulator to sell two self-developed genetic sequencers.

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