MGI Tech sells Complete Genomics to Swiss Rockets
Client(s) MGI Tech Co., Ltd.
Jones Day represented MGI Tech Co., Ltd., a China-based global leader in DNA sequencing, on the sale of its U.S. subsidiary, Complete Genomics Inc., a pioneering life science company that develops and commercializes end-to-end DNA sequencing platforms, including instruments, reagents, and software, for high-throughput human genome sequencing and analysis in research applications, to Swiss Rockets AG, a specialized biotechnology incubator and accelerator based in Basel, Switzerland. This transaction pairs up with the previously announced strategic licensing agreement that MGI Tech and Complete Genomics grant license to Swiss Rockets to develop, manufacture, and commercialize CoolMPS™ sequencing technology created the operational framework for long-term collaboration between the parties in the international markets.