Complete CEO sees no security concerns with BGI deal
Complete Genomics Inc. (NASDAQ:GNOM) Chairman, President and CEO Clifford Reid said the whole genome sequencing company's pending merger with BGI (Shenzhen, China) "raises no national security concerns." The comments came in a memo to Complete Genomics employees providing an update on the merger, including claims by fellow sequencing company Illumina Inc. (NASDAQ:ILMN) that the deal raises national security issues.
Reid noted in the memo that BGI is a private company that is entirely owned by BGI employees as private citizens, and that Illumina has also sold genome sequencing equipment to BGI without any problems regarding national security. Reid also said that "there is absolutely no basis" that Complete Genomics or BGI "could or would do anything in any way related to biological weapons development using human genome sequencing" adding that BGI would not be able to do anything with Complete Genomics' sequencing instruments that it can't already do with Illumina's instruments. Last month, Complete Genomics' board rejected an unsolicited bid from Illumina to acquire Complete Genomics for $3.30 per share in cash, or about $136.4 million (see BioCentury Extra, Nov. 28). ...