Latvia signs MOU with one of the world`s largest genome sequencing companies

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In the capital city of Hungary – Budapest, the annual 16+1 summit took place. Latvian Prime Minister Māris Kučinskis also participated in the event. During the summit 23 cooperation agreements were signed and among them was a Memorandum of Understanding on building a Latvia-Biolake-BGI Life Science and Technology Center. 

Agreements were signed  between one of the world’s biggest genome sequencing organisations – BGI, Wuhan National Bio-industry Base construction Managment Office and Ministry of Economics of the Republic of Latvia. The center will improve economic transformation and people’s livelihood and serve as an innovation and cooperation platform for life science enterprises and research institutions of both countries, providing state of the art equipment, mentorship and commercialization.

From Ministry of Economics side the Memorandum was signed by Deputy State Secretary Raimonds Aleksejenko. Mr. Aleksejenko emphasized that the signing of this document is a serious step towards the creation of a European scale life science and technology park and also cooperation with such partners will enable Latvia to become one of the leaders in Europe in the life sciences field.

BGI, as a world-leading genomics organization, was founded in 1999 with the vision of using genomics to benefit mankind. BGI’s goal is to make state-of-the-art genomics highly accessible to the global research community and clinical markets by integrating the industry’s broadest array of leading technologies, including BGI's own BGISEQ sequencing platform, economies of scale, and expert bioinformatics resources. In July 2017, BGI Genomics, a division of BGI Group, has carried out an initial public offering on the Shenzhen Stock Exchange. Current market capitalisation has reached 10 billion euro value.

The Wuhan National Bio-industry Base, also known as the Biolake, is China's second largest state-level biotech industrial base in view of overall strength, located in Wuhan East Lake High-tech Development Zone. The base’s current tenants include eight of the world's Top 500 companies, 16 listed companies and 258 high-level startup teams from home and abroad.