BGI, the China genomics sequencing company, raised $320 million for its subsidiary BGI Shenzhen, a division that provides prenatal DNA testing services (see story). The funding placed a 20% stake in the company in the hands of several (unnamed) institutional investors and values BGI Shenzhen at $1.6 billion. Earlier this year, without any explanation, China put a halt to the use of any prenatal test that had not been approved by the government, a move that may have put BGI Shenzhen into a financial squeeze. Previously, no approval was needed for the non-invasive tests.
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