🚀 MGI Tech Sells Complete Genomics to Swiss Rockets for $50 Million
#MGITech #CompleteGenomics #SwissRockets #Genomics #SequencingTechnology #Jin10 #LicensingAgreement #StandardMPS #RevenueBoost #OperationalEfficiency
MGI Tech, a wholly-owned subsidiary of 华大智造, announced the sale of its subsidiary, Complete Genomics, Inc., to Swiss Rockets AG for approximately $50 million. According to Jin10, the transaction involves divesting Complete Genomics' assets and liabilities. Additionally, MGI US LLC and CGI have signed an amended licensing agreement with Swiss Rockets, granting exclusive rights to the StandardMPS sequencing technology in the U.S. and Canada, along with a general license for sequencing technology. This deal is expected to significantly enhance the company's direct revenue and improve cash flow, boosting overall profitability and operational efficiency.#MGITech #CompleteGenomics #SwissRockets #Genomics #SequencingTechnology #Jin10 #LicensingAgreement #StandardMPS #RevenueBoost #OperationalEfficiency