BGI, a Shenzhen genomics company, is edging closer to an IPO. The company now expects to raise $250 million on Shenzhen’s Chi-Next Exchange sometime in July, following all-but-final approvals from China’s Securities Regulatory Commission. Known as a world leader in basic science sequencing, BGI now generates 55% of its income from clinical genomic tests, especially its NIFTY prenatal test for hereditary illnesses such as Down’s syndrome. The business is very profitable: BGI’s IPO prospectus puts gross profit margin for reproductive services at 76%.
Source: ChinaBio Today
