Tuesday, June 5, 2012

Complete Genomics Chops Staff, Looks For Buyer

Mountain View-based Complete Genomics, the onetime high flying provider of whole human genome sequencing services, said today that it has cuts its staff, and has hired an investment banking firm to assist in "strategic alternatives." The firm said it has cut approximately 55 employees, and hired Jeffries & Company as its financial advisor. The firm also said it plans to deplay capacity expansion of its services as it plans to "focus on development of clinical applications for its whole human genome sequencing service". Complete Genomics had its IPO in November of 2010.