Complete Genomics, a small biotech based in Mountain View, California, started sequencing genomes in 2009, using a technology that produced minimal errors in whole genome reads, catching the attention of many members of the scientific community. Despite this attention, the company suffered, losing $72.3 million in 2011. Earlier this month (September 17), the owner of the world’s largest sequencing facility, Chinese company BGI, announced its decision to spend $117.6 million to buy Complete Genomics’ shares and merge the two companies.
The buyout is being touted by researchers in the field as a welcome rescue to an important genomics technology in a field of dwindling choices. “Right now, Illumina would have a monopoly if Complete Genomics went under,” Michael Snyder, director of the Stanford Center for Genomics and Personalized Medicine, told Nature. Such competition is critical to keeping prices low and to ensure that the technology will continue to evolve, he ...
