China's Zixin Pharmaceutical buys majority stake in U.S. genome firm Nabsys

Two scientists in a lab

China’s Jilin Zixin Pharmaceutical Industrial has splashed out $42 million to buy a Rhode Island-based high-definition genome mapping company, Nabsys 2.0, entering an area fairly outside of its traditional Chinese medicine base.

China Money Network reports that Zixin will hold 67% of Nabsys, which, according to its website, underwent a financial, management and technical leadership team restructuring in March.

Chinese pharmaceutical and contract research firms have made several forays into areas of genome mapping, offering services in the field to other companies or in other cases for drug discovery research.

Free Webinar

What could you do with real-time supply chain information at your fingertips?

Interested in complete supply chain real-time data visibility? Unlock productivity with digital workflows, manage plants inventory with real-time supply chain information and enable faster decision-making with data visualization with pci | bridge. Register today!

Zixin's aim for the stake was not immediately clear, though it has partnered Chinese gene sequence firm BGI on earlier work and has an in-house R&D effort that includes cardiovascular and cerebrovascular components aimed at the domestic market.

Nabsys says its chip-based nanodetectors can analyze complex DNA molecules electronically at high velocity and deep resolution compared to optical approaches, according to the company's website.

The transaction values Nabsys at $63 million, according to China Money Network.

- here's the release (Chinese language)
- and a story from China Money Network

Related Articles:
China poised to make CRISPR history with first in-vivo trial
China's BGI and Huawei partner on Big Data genomic system storage

Read more on

Suggested Articles

Implementing data integration strategy in your commercialization breaks down traditional healthcare silos and improves patient outcomes.

Roche and Blueprint's RET inhibitor Gavreto has won FDA go-ahead to treat certain types of thyroid cancer, leveling the field with Lilly's Retevmo.

CDMO Sterling Pharma Solutions is plotting a buyout of a U.K.-based antibody-drug conjugate specialist in a new bid at the next-gen cancer fighters.