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Old 09-17-2012, 09:59 AM   #1
Richard Finney
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Default BGI Shenzhen Acquires Complete Genomics

MOUNTAIN VIEW, Calif. (AP) -- Chinese genomics company BGI-Shenzhen is buying Complete Genomics for approximately $113.1 million, the companies said Monday. ( http://finance.yahoo.com/news/bgi-sh...150425317.html )

gnews: http://www.google.com/search?hl=en&g....1.q-26R06iZ5I

Blog coverage:

omix: http://omicsomics.blogspot.co.uk/201...-genomics.html

dscan: http://www.genomeweb.com/blog/bgi-stakes-claim

hlogus: http://www.homolog.us/blogs/2012/09/...-21st-century/
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Old 09-17-2012, 02:03 PM   #2
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Now BGI gets their US front... And CG is sparred a slow and painful demise...
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Old 09-18-2012, 04:34 AM   #3
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Now BGI gets their US front... And CG is sparred a slow and painful demise...
And I get $3 a share. Whoo!
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Old 09-18-2012, 09:55 AM   #4
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And I get $3 a share. Whoo!
Maybe they'll pay you in RMB's (also know as Yuan's).
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Old 09-18-2012, 10:01 AM   #5
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And CG is spared a slow and painful demise...
Are you sure about that?
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Old 09-19-2012, 05:06 AM   #6
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Maybe they'll pay you in RMB's (also know as Yuan's).
It does sound a bit better at 18RMB/share.
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Old 09-19-2012, 10:12 AM   #7
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Despite the annoyingly short reads (and my low expectations), the CGI whole genomes aren't that bad. At the reported $5K a pop, it seems pretty cheap.

Questions I'd have are:

Wasn't BGI a research institute? Now it's all o' the sudden an M&A "player" ???

If they're now a now a commercial venture, then what's their path to profit? Are they going to sell their "we sequenced everything" knowledge? Are they going to use cheap labor and "economies of scale" to make the commercial clinical market happen? Will the sample from your next Labcorp visit get fedexed to Hong Kong and processed over there?

Is there "intellectual property" in CGI? Is this just loading up ammo for potential Samsung/Apple type legal battles? Is there some tech that CGI has that needs more capital to exploit?

Is there value in CGI salesforce? Perhaps this gives BGI some recon troops on the ground in the world's biggest market.

Is there some "synergistic" opportunity going down here?
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Old 09-19-2012, 11:01 AM   #8
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Quote:
Originally Posted by Richard Finney View Post
Despite the annoyingly short reads (and my low expectations), the CGI whole genomes aren't that bad. At the reported $5K a pop, it seems pretty cheap.

Questions I'd have are:

Wasn't BGI a research institute? Now it's all o' the sudden an M&A "player" ???

If they're now a now a commercial venture, then what's their path to profit? Are they going to sell their "we sequenced everything" knowledge? Are they going to use cheap labor and "economies of scale" to make the commercial clinical market happen? Will the sample from your next Labcorp visit get fedexed to Hong Kong and processed over there?

Is there "intellectual property" in CGI? Is this just loading up ammo for potential Samsung/Apple type legal battles? Is there some tech that CGI has that needs more capital to exploit?

Is there value in CGI salesforce? Perhaps this gives BGI some recon troops on the ground in the world's biggest market.

Is there some "synergistic" opportunity going down here?
Lots of questions...for answers, "only the Shadow knows."
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Old 09-19-2012, 05:45 PM   #9
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BGI is not a research institute. It is a company that does some research...
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Old 09-19-2012, 07:25 PM   #10
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Originally Posted by Richard Finney View Post
Wasn't BGI a research institute? Now it's all o' the sudden an M&A "player" ???

Is there "intellectual property" in CGI? Is this just loading up ammo for potential Samsung/Apple type legal battles? Is there some tech that CGI has that needs more capital to exploit?
BGI I think is a bit of a hybrid beast, with some aspects non-profit and some more on a for-profit bent. This has precedent in the U.S. (TIGR as non-profit & HGS as for-profit -- original setup but it did not last), but who knows what structure is available in China.

CG would be expected to have IP around their sequencing process. A BioIT article states they have two issued patents around their Long Fragment Read technology for library preparation.
Google found an interesting little list of patents for CG, though I cannot vouch it is complete nor accurate.
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Old 09-20-2012, 09:35 AM   #11
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Originally Posted by krobison View Post
BGI I think is a bit of a hybrid beast, with some aspects non-profit and some more on a for-profit bent. This has precedent in the U.S. (TIGR as non-profit & HGS as for-profit -- original setup but it did not last), but who knows what structure is available in China.

CG would be expected to have IP around their sequencing process. A BioIT article states they have two issued patents around their Long Fragment Read technology for library preparation.
Google found an interesting little list of patents for CG, though I cannot vouch it is complete nor accurate.
Don't be naive...BGI wants to dominate the world of sequencing...plain and simple. They obviously shy away from that question if it is breached... but trust me, I know this to be the fact.
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Old 09-20-2012, 09:42 AM   #12
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Welp.
Kinda leads to an obvious question:
Who owns BGI Shenzhen ?

Last edited by Richard Finney; 09-21-2012 at 07:57 AM. Reason: pinyin spelling
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Old 09-21-2012, 12:18 AM   #13
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My guess is that they wanted their own sequencing technology and this was the only one for sale. Having a customer list is a plus. Looks like there will now be three sequencing technologies on the market?
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Old 09-21-2012, 07:56 AM   #14
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Bloomberg story from 9/17/2012:
http://www.bloomberg.com/news/2012-0...tml?cmpid=yhoo

More Accurate

Complete Genomics’s sequencing technology gives results slower than that of Illumina Inc. (ILMN), BGI’s major supplier of sequencing machines, said George Church, who advises both Complete Genomics and BGI. However, studies have shown that the technology BGI is acquiring is more accurate than Illumina’s, and Complete Genomics has the potential give results in a time frame that will be useful to doctors, Church said.

The purchase may also reduce BGI’s dependence on Illumina and sequencer-maker Life Technology Corp., said Doug Schenkel, an analyst with Cowen and Co. in Boston.

Most medical genetic testing in the U.S. is overseen by the Centers for Medicare & Medicaid Services under the Clinical Laboratory Improvements Amendment. Complete Genomics has said it expects CLIA approval for a lab this year. The lab would compete with San Diego-based Illumina Inc., which provides clinical genome-analysis services.

IBD story:
http://finance.yahoo.com/news/china-...120200945.html

BGI wants to enter the U.S. market for research and medical DNA testing.
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Old 09-21-2012, 08:32 AM   #15
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Quote:
Originally Posted by Richard Finney View Post

BGI wants to enter the U.S. market for research and medical DNA testing.

Were you aware that BGI sent several (at least 5...perhaps 10?) HiSeqs earlier this year to the CHOP? That lab is already CLIA.
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Old 09-23-2012, 08:40 PM   #16
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Quote:
Originally Posted by lh3 View Post
BGI is not a research institute. It is a company that does some research...
I think BGI is a complicated entity.

In addition to its business arm, part of it is also a shi-ye-dan-wei
http://zh.wikipedia.org/wiki/%E4%BA%...8D%95%E4%BD%8D

which is similar to a non-profit org.

I think by acquiring CG, they gain the know-hows of making a sequencer. I think it is likely they will eventually build a sequencer of their own.
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Old 09-24-2012, 02:02 PM   #17
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Quote:
Originally Posted by ymc View Post
I think BGI is a complicated entity.

In addition to its business arm, part of it is also a shi-ye-dan-wei
http://zh.wikipedia.org/wiki/%E4%BA%...8D%95%E4%BD%8D

which is similar to a non-profit org.

I think by acquiring CG, they gain the know-hows of making a sequencer. I think it is likely they will eventually build a sequencer of their own.
If it walks like a duck, quacks like a duck, has feathers like a duck...well, you get the idea.
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Old 09-25-2012, 07:48 AM   #18
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BGI is not a research institute. It is a company that does some research...
lh3, your description is so concise
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Old 09-25-2012, 07:48 AM   #19
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Now BGI gets their US front... And CG is sparred a slow and painful demise...
not good for everyone ...
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Old 09-25-2012, 11:05 PM   #20
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Default BGI and Gates Foundation Collaborate

BGI and Gates Foundation Collaborate

By Bio-IT World Staff

September 25, 2012 | BGI and the Bill & Melinda Gates Foundation have signed a Memorandum of Understanding (MOU) to begin immediate collaboration on global health and agricultural development.

“BGI greatly welcomes this opportunity to partner with the Bill & Melinda Gates Foundation to bring the benefit of genomics research to our global society,” said Dr. Huanming Yang, Chairman and Co-Founder of BGI. “We are confident that the combination of our respective capabilities, expertise and experience will yield important scientific breakthroughs in the areas of human, plant and animal genomics that will contribute to the advancement of sustainable health and agriculture development, especially in the developing world.”

BGI and the Gates Foundation will collaborate on both a strategic level and a specific project level to meaningfully contribute to the achievement of one or more of the United Nations’ Millennium Development Goals. A management committee will be established that will support identification and implementation of collaborations on global health and agricultural development projects.

Collaboration on specific projects will leverage the Gates Foundation’s agriculture and global health program knowledge and networks with BGI’s sequencing and genomics capabilities to achieve the goal of significantly reducing poverty and/or improving health outcomes in the developing world.

Strategic objectives include identifying a program of work and collaboration across global health and agricultural development and to conduct work together on initial projects with near-term potential to further develop the working relationship between BGI and the Gates Foundation.

The agreement supports the prompt and broad dissemination of information from collaboration projects. It also supports broad access to any technology arising from a project. These technologies will be required to be made available at a reasonable cost to the poor.

"We work closely with partners like BGI to enable breakthroughs in science that will prevent disease and improve agriculture so that farm families can become self-sufficient, reducing hunger and poverty,” said Dr. Trevor Mundel, president of the Global Health Program at the Bill & Melinda Gates Foundation.
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