MGI Tech

MGI Tech stands as one of only two companies globally capable of independently developing and mass-producing clinical-grade gene sequencers across low, medium, and high throughput levels. Spun off from BGI Group in 2016 following the 2013 acquisition of Complete Genomics, the company has expanded beyond genomics into medical robotics and laboratory automation, serving over 1,000 users across 50+ countries.

Company Overview

Headquartered in Shenzhen with operations spanning six continents, MGI Tech operates through two primary business segments: gene sequencing instruments and laboratory automation systems. The company has also developed emerging product lines including remote ultrasound robotics, single-cell omics platforms, and ultra-low temperature automated biobanking systems.

MGI Tech completed its IPO on the Shanghai Stock Exchange STAR Market (Science and Technology Innovation Board) in September 2022, raising approximately CNY 2.59 billion. Prior to going public, the company secured over $1 billion in Series B funding in May 2020, led by IDG Capital and CPE, following a $200+ million Series A round in 2019.

Core Products

MGIUS-R3 Remote Ultrasound Robot

The MGIUS-R3 represents the world’s first commercially approved remote ultrasound diagnostic system. By integrating robotic technology, real-time teleoperation, and high-resolution ultrasound imaging, the system enables physicians to conduct ultrasound examinations on patients located up to 1,000 kilometers away. The device received NMPA Class III medical device approval in May 2020 and CE certification in March 2020.

During the COVID-19 pandemic, MGIUS-R3 units were deployed to Leishenshan Hospital and Zhongnan Hospital in Wuhan, allowing remote specialists to diagnose patients while minimizing cross-infection risks for medical personnel.

Gene Sequencing Platforms

MGI’s DNBSEQ technology platform includes multiple sequencer models ranging from benchtop units to ultra-high-throughput systems. Key products include the DNBSEQ-T7 (capable of Tb-level sequencing output), MGISEQ-2000, and the compact DNBSEQ-G99. The company holds over 590 domestic and international patents as of recent reporting periods.

Laboratory Automation Systems

The MGISP product family provides automated sample preparation solutions for genomic applications. Products like MGISP-960 high-throughput sample preparation workstations and MGISP-100 library preparation instruments have been deployed globally, with over 500 MGISP-960 units shipped to support COVID-19 testing capacity in 30+ countries during the pandemic.

Technology & Innovation

MGI Tech’s core technical capabilities span multiple domains:

• DNBSEQ Sequencing Technology: Proprietary DNA nanoball sequencing approach offering high accuracy and cost efficiency
• Remote Ultrasound Diagnostics: Integration of 5G connectivity, robotic manipulation, and medical imaging
• High-Density Array Chips: Regular array chip technology enabling precise sequencing
• Automated Sample Processing: Complete workflows from sample extraction through library preparation

The company has received certifications including ISO 13485 (Medical Device Quality Management), ISO 14001 (Environmental Management), and ISO 27001 (Information Security Management). Products have obtained over 110 national and international certifications, enabling market access across Asia Pacific, Europe, Americas, Russia, and the Middle East.

Market Presence

MGI Tech competes primarily with Illumina in the gene sequencing market and with established players like Tecan in laboratory automation. The company maintains research, production, and service centers in multiple regions including Hong Kong, United States, Japan, Latvia, Germany, UAE, Singapore, and Brazil.

Customer experience centers have been established in Beijing, London, Riga, Berlin, and Tokyo to support local researchers and partners with technology demonstrations, training, and project validation services.

Key Milestones

• 2013: BGI Group acquires Complete Genomics, obtaining core sequencing technology
• 2016: MGI Tech established as independent entity
• 2019: Series A funding exceeds $200 million
• 2020: MGIUS-R3 receives NMPA approval (China’s first remote ultrasound robot)
• 2020: Series B funding exceeds $1 billion
• 2022: IPO on Shanghai STAR Market (688114.SH)
• 2024: Employee count reaches approximately 2,600 globally

Frequently Asked Questions

What makes MGI Tech unique in the medical robotics space?

MGI Tech developed the MGIUS-R3, the world’s first remote ultrasound robot to receive regulatory approval for commercial use. Unlike traditional ultrasound that requires physician presence, MGIUS-R3 allows remote diagnosis across distances up to 1,000 km, addressing healthcare access disparities in rural and underserved regions.

Is MGI Tech publicly traded?

Yes, MGI Tech is listed on the Shanghai Stock Exchange STAR Market under the ticker 688114.SH since September 2022.

What is the relationship between MGI Tech and BGI?

MGI Tech was spun off from BGI Group in 2016. The company originated from BGI’s sequencing instrument division, which gained core technology through the 2013 acquisition of Complete Genomics, a US-based genomics company.