Legend Capital has celebrated an exit as Berry Genomics completed a reverse merger with Chengdu Tianxing Instrument and Meter in a deal worth $653m.
Berry Genomics, a China-based prenatal genetic testing company backed by conglomerate Legend Holdings, has completed a reverse merger with Shenzhen-listed automotive parts manufacturer Chengdu Tianxing Instrument and Meter, China Money Network reported today.
The transaction valued Berry Genomics at RMB4.3bn ($653m), down from its 2015 valuation of RMB10bn. Tianxing issued approximately 203 million new shares priced at RMB21.
The reverse merger had been in the works since December 2016.
Founded in 2010, Berry Genomics offers non-invasive prenatal genetic testing…
