(Yicai Global) June 26 -- Chinese genome sequencer BGI Group will invest CNY470 million (USD68.3 million) to build a base for the research and development and production of reagents used in genetic testing in Qingdao, a port in China's eastern Shandong province.
The project will explore and expand the test services market in Shandong and surrounding cities and provinces in northern China, the firm said in a statement yesterday.
This base will focus on the R&D and production of genetic testing reagents targeting birth defects, tumors and infectious diseases, and provide clinical application services for healthcare institutions, per the agreement signed yesterday between BGI Group and the management committee of Qingdao International Economic Cooperation Zone under the city government.
The plot of land set aside for the project covers about 86 mu (5.7 hectares) and is publicly transferred and provided by the committee. The investment will pay land transfer fees and construction and other costs, and buy and install equipment, per the statement.
The project will also provide precision prevention and treatment services and personalized healthcare management and testing that target genetic illnesses for residents in northern regions and those undergoing testing in various cities and provinces, and offer guidance on healthy lifestyles, the statement added.
BGI Group, headquartered in Shenzhen, is a top global manufacturer of genome sequencing products and a supplier of corresponding services. It operates branches in more than 100 nations and regions, public data show.
Editor: Ben Armour