Chinese company to buy Complete Genomics, keep HQ in Mountain View

Complete Genomics' Cliff Reid.

A Chinese company will buy human genome sequencing company Complete Genomics Inc. for $113 million, the companies said Monday, and provide $30 million in bridge financing for operations after signing a merger agreement. A U.S. subsidiary of BGI-Shenzhen, which includes nonprofit genomic research institutes and sequencing application commercial units, will launch a tender offer to buy all the outstanding shares of common stock in Mountain View-based Complete Genomics (NASDAQ: GNOM) for $3.15 per share cash. The price represents an 18 percent premium over Complete Genomics' $2.67 closing price on Friday.

Complete Genomics stock up on new technology, still off 52-week high

Life sciences company Complete Genomics Inc.'s stock was up nearly 10 percent in pre-market trading on Thursday. It closed up 44 percent the day before at $2.93 per share.

The Mountain View-based company's(NASDAQ:GNOM) stock boost was tied to an announcement about technology for whole genome sequencing that it says dramatically improves accuracy, enables fully-phased genomes, and reduces the amount of DNA required for testing.

Complete Genomics stock still is off from near $14 per share a year ago and its 52-week high of $15.60. 

New wave of Bay Area companies tame DNA data storm

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Andreas Sundquist is no medical doctor, but his expertise in electrical engineering and computer science places him and technologists like him on the cusp of solving some of the knottiest human medical problems.
Sundquist’s DNAnexus Inc. is one of at least a half-dozen young Bay Area companies using computational biology and genetics to unleash exabytes of stored genome sequencing data into everyday health care. By blending their computer algorithms and software with medical know-how, experts say, clouds full of cheaper and cheaper DNA data could rain down treatments and new drugs for previously mysterious and common medical conditions.
The burgeoning industry of genome analysis — at the intersection of the Bay Area’s high-tech and biotech expertise — could make some visionaries very rich. On the other hand, easy-to-use genetic data could turn today’s diagnostics industry upside down.
But to Sundquist and other pioneers, their companies’ value lies in volume and the ability to turn Big Data into big-time answers.
“You can argue that social networks are for rich kids, that Twitter is for value seekers,” Sundquist said. “But everybody has DNA.”

Lessons learned by Complete Genomics' Cliff Reid while building an industry leader

The revolution in the speed, reliability and cost of human genome sequencing will spread into doctors’ offices next year, predicts Cliff Reid, chairman, president and CEO of Complete Genomics. But just a few years ago, that dream was shrouded by the day-to-day realities of trying to keep the Mountain View company afloat.

Executive Profile: Cliff Reid of Complete Genomics

Cliff Reid graduated from MIT at 20 with a degree in physics, but he knew he didn’t want to be a physicist. He went to Harvard Business School but was unsatisfied. Then he enrolled in what is now Stanford University’s management science and engineering program, and he “caught the Silicon Valley bug.” Reid sees his professional career in three overlapping areas — physics, where he tried to understand the universe; computer science, where he tried to understand the nature of how the brain makes decisions; and now computational biology, where his 250-employee Complete Genomics is trying to help researchers understand the origins of life.

Complete Genomics grabs $8 million for pediatric cancer sequencing

Complete Genomics Inc. will be paid $8 million to sequence the genomes of about 500 children with cancer.
The Mountain View company has already sequenced genomes from 50 children in the first phase of this project. It’s working for SAIC-Frederick Inc., which is in turn working for the National Cancer Institute under a contract paid for by stimulus funding from the U.S. government.

Complete Genomics releases 29 new human genome sequences

Complete Genomics Inc. added 29 complete human genome sequences to its public library, the Mountain View company (NASDAQ: GNOM) said Wednesday.
With 40 other genome datasets in early February, the company’s public data repository now has 69 complete human genome datasets available to researchers.