MGI Tech raises $200M for high throughput gene sequencers

Sequencing technology company MGI Tech raised over $200 million in an undisclosed financing backed by CITIC Goldstone Capital, Green Pine Capital Partners and Orient Securities Capital Investment. MGI Tech Co. Ltd. said it plans to use the funds to strengthen R&D and production of new gene sequencers.

The company's marketed products include five sequencing devices that use DNA nano-ball technology to reduce sequencing error rates. Its MGISEQ-T7 ultra-high throughput sequencer has a sequencing cost of $5 per gigabase, the lowest in the world, according to the company. MGISEQ-T7 is compatible with whole-genome, deep-exome, transcriptome and targeted sequencing...