(Yicai Global) June 7 -- A European unit of China’s largest genome testing company, BGI Genomics, has obtained a certificate to launch its reproductive health products in the EU markets.
National service organization British Standards Institution has given BGI Tech Europe, a next-generation sequencing services provider, a certificate which shows that the design and production of the company's health products meet the requirements of this quality management system, the Shenzhen-based firm said in a statement, without disclosing further details.
China’s genetics testing is one of the fastest growing markets in the world, estimated to more than triple to CNY42 billion by 2021, according to data from China Investment Consulting last year. With the surge in cancers in recent years, particularly oncology testing has the potential to gain the biggest portion in genetic sequencing, Deng Zhouyu, a health care stock analyst for Bank of China International said to South China Morning Post.
BGI Genomics went public in August last year while raising its stock-price-to-earnings ratio 109 times and pushing its founder’s net worth to CNY13.8 billion (USD2.1 billion).
Editor: Emmi Laine