MGI Tech cedes a sequencing technology subsidiary to Swiss Rockets for $50 million

FreeRider · 2026-02-28T09:01:26+00:00

MGI Tech has sold its subsidiary Complete Genomics, Inc. to Swiss Rockets AG for approximately $50 million, aiming to optimize its capital structure and focus on other genomic technology areas. A licensing agreement grants exclusive rights for certain sequencing technologies in the U.S. and Canada, expected to enhance MGI Tech's financial position and operational efficiency.

FreeRider

2026-02-28 09:01:26

Abstract generation in progress

In a business transaction reflecting strategic changes in the genomics sector, MGI Tech, a wholly owned subsidiary of the Chinese sequencing company BGI Genomics, has transferred its subsidiary Complete Genomics, Inc. to Swiss Rockets AG in a deal valued at approximately $50 million. This subsidiary specializes in advanced genomic sequencing technologies and has played an important role in MGI Tech’s portfolio of solutions for the genomics market.

A strategic subsidiary in the sequencing field

Complete Genomics, Inc. is a key asset in MGI Tech’s genomics portfolio. The sale involves the transfer of all assets and liabilities associated with this subsidiary, marking a turning point in the group’s investment strategy. According to Jin10, this divestment will allow MGI Tech to optimize its capital structure and focus on other priority business lines within its genomics technology ecosystem.

Licensing agreement granting exclusive rights

Alongside the sale of the subsidiary, MGI US LLC and CGI have entered into an amended licensing agreement with Swiss Rockets, granting exclusive rights to the StandardMPS sequencing technology in the United States and Canada. Additionally, Swiss Rockets has obtained a broader license to access the overall sequencing platform, enabling comprehensive commercial exploitation of these technological capabilities in North America.

Impact on operational profitability

The terms of the agreement are expected to significantly strengthen MGI Tech’s financial position. By combining the sale of the subsidiary with revenue from licensing technology, a substantial increase in direct income generation is anticipated. This additional cash flow is projected to improve corporate liquidity, increase profit margins, and enhance overall operational efficiency of the organization in the medium term.

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