BGI's gene sequencer spinoff, MGI Tech, has secured $200m in funding from Goldstone Investment, Green Pine Capital and Orient Securities despite a reported $1bn target.
MGI Tech, a gene sequencing technology subsidiary of China-based genomics services provider BGI, raised $200m in funding yesterday.
The cash was supplied by Goldstone Investment, a fund managed by investment banking firm Citic Securities, as well as venture capital firm Green Pine Capital Partners and Orient Securities Capital Investment, a subsidiary of investment bank Orient Securities.
Founded in 2016, MGI develops gene sequencing systems for use in life sciences research and drug development. Its products cover genetic testing, gene editing…
