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BGI Genomics Forms $7.6 Million JV with TCM Company Kangmei

publication date: Dec 12, 2017

BGI Genomics announced a $7.6 million joint venture with Kangmei Pharma, a company known for its TCM offerings. The Shenzhen JV will apply BGI's gene sequencing technology to TCM products. Kangmei will supply the JV with 95% of the $7.6 million in cash, while BGI will contribute the remaining 5% of the JV's value with instruments and technology. In October, the two companies announced a strategic collaboration, and the JV is the first major step in their agreement. Kangmei, a $13 billion company, also makes chemical products, especially antibiotics. More details....

Stock Symbols: (SHZ: 300676) (SHA: 600518)

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