Quick Take: BGI Genomics Partners With Traditional Chinese Medicine Supplier
Chinese genome giant BGI Genomics Co. Ltd. has expanded into a new business: helping to standardize and modernize traditional Chinese medicine (TCM).
BGI has agreed to set up a joint venture with Kangmei Pharmaceutical Co. Ltd., a TCM developer that cultivates several herb plantations in China, the companies announced Friday.
Kangmei Pharma will contribute 95% of the $7.5 million project’s funding, while BGI will provide devices and technology. A Kangmei representative told Caixin that the drugmaker wants to grasp a better understanding of herbs to control TCM quality and improve its efficacy.
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