(Yicai Global) Dec. 11 -- China's BGI Group, which owns the world's largest genetics research center, has agreed to take part in the Department of Health-Abu Dhabi's Genome Programme to build a free healthcare system based on the genetic data of Emiratis.
The United Arab Emirates' Group 42 will run the project, which BGI preliminarily agreed to in July, the latter's listed arm BGI Genomics said in a statement today. The United Kingdom's Oxford Nanopore Technologies will also participate.
Shares in BGI Genomics [SHE:300676] were up 1 percent at CNY60.94 (USD8.66) as of 1.31 p.m., giving it a market cap of CNY24.1 billion (USD3.4 billion).
The project will use a reference genome adapted from the characteristics of the UAE population and use Group 42's big data and artificial intelligence tech to prevent and treat diseases, the statement added. Sequencing work will all be handled locally and the UAE health department will manage the related data.
Founded in 1999, BGI Group combines academic research and commercial development of the life sciences. BGI Genomics, its main channel for commercialization, is a leading gene sequencing provider in China and went public in 2017.
Editor: James Boynton