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Swiss Rockets buys MGI subsidiary Complete Genomics after Biosecure Act

The Chinese DNA sequencing company MGI has sold its US subsidiary Complete Genomics, following a legislative crackdown that blunted its expansion plans.

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The Chinese DNA sequencing company MGI has sold its US subsidiary Complete Genomics, following a legislative crackdown that blunted its expansion plans.

Swiss-based life sciences company Swiss Rockets will buy Complete Genomics, and in the second quarter it will launch a DNA sequencer in the US and beyond, the companies said Monday. Terms of the deal were not disclosed. It appears Swiss Rockets hopes to eliminate geopolitical friction as it takes on market leader Illumina.

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