MGI (company)

MGI or MGI Tech is a Chinese biotechnology company,[3] which provides a line of products and technologies that serves the genetic sequencing, genotyping and gene expression, and proteomics markets. Its headquarters are located in Shenzhen, Guangdong, China.

History

In 2016, MGI was founded as a subsidiary of BGI Group.[4][5] It manufactures high-throughput genetic sequencing systems and other products for use in the life sciences and health care sectors.[6][7] As of July 2022, the company's operation is divided into two primary business segments: genetic sequencers and laboratory automation systems.[8][9]

MGI was a subsidiary of BGI Group before, it was spun out and listed on the Shanghai stock exchange in 2022.[10]

In May 2020, MGI raised $1 billion in series B funding from IDG Capital and CPE China Fund.[11][12] In December 2020, the company submitted its IPO application to Shanghai Stock Exchange STAR Market.[13][14] In September 2021, the company has won the approval for its IPO on Shanghai Stock Exchange STAR Market's high-tech board.[15]

In 2024, MGI lost more than a third of its market capitalization after the US Congress introduced legislation to prohibit American health data being sent to China.[16]

In 2024, MGI opens Customer Experience Center in Brazil. [17]

In 2025, Swiss biotech incubator firm Swiss Rockets has entered into an exclusive licensing agreement with MGI Tech and its US subsidiary Complete Genomics granting the company the rights to develop and commercialize next-generation sequencers based on the MGI Tech/Complete Genomics' CoolMPS technology in most parts of the world. [18]

Subsidiaries

Research and development

The company is known for manufacturing DNA sequencers based on low-cost DNA nanoball sequencing technologies which was refined further after the acquisition of Complete Genomics.[23][24] The refinement included combinatorial probe anchor synthesis technologies which involves loading DNA nanoballs (DNBs) onto a patterned array chip using a fluidic system. Subsequently, a sequencing primer is added to the adaptor region of the DNBs in order to hybridize them.[25]

In 2023, MGI dubbed DNBSEQ-T20 which can read up to 50,000 human genomes a year. And the cost of reading each genome will be as low as $100. [26][27]

In 2025, MGI Tech unveils DNBSEQ-T1+. The DNBSEQ-T1+ is a next-generation mid-throughput sequencer that completes a paired end 150 sequencing workflow in just 24 hours with Q40 accuracy.[28]

In 2025, MGI Tech touts world’s fastest gene sequencer: 10 minutes to read a genome. The company said at a launch event that the DNBSEQ-T7+ can sequence 144 human genomes a day, or one every 10 minutes. [29]

Criticism

On October 31, 2019, the Chairman of the Senate Finance Committee, Chuck Grassley, and Senator Marco Rubio wrote a joint letter to Alex Azar, the Secretary of the Department of Health and Human Services and Seema Verma, the Administrator of the Centers for Medicare & Medicaid Services (CMS) raised their concerns against MGI, regarding the circumstances under which the CMS may finance it to process American citizens' genomic or exome data.[30]

MGI asserted that it is "a supplier of instruments and consumables for customers to use in their own labs" and does not provide any genomic sequencing services. "MGI does not own, control, handle, or even access samples or genetic data, only MGI's customers do. There is no risk that MGI will have access to any health records or genetic data from customers," the company stated.[31]

Litigation

External links