BioNanoatrix and Complete Genomics Receive $8.8 Million NIST-ATP Award to Develop Sequencing Platform for $...(oject from the perspective of theclinici...)

Date:9/27/2007

oject from the perspective of the clinician, looking at the requirements and opportunities associated with incorporating genetics into routine clinical diagnostics," said Dr. Radoje (Rade) Drmanac, chief science officer and co-founder of Complete Genomics. "Accuracy, speed and low cost were paramount considerations. While there are a number of powerful and elegant sequencing strategies available or under development, we determined that we needed a completely novel approach to overcome their inherent limitations and achieve our $100 cost objective. We are optimistic that the combination of our two highly innovative approaches has a good chance of success. "

The joint venture has proposed adapting a novel DNA sequencing chemistry combined with linearized nanoscale DNA imaging to create a system that can "read" very long DNA sequences of greater than 100,000 bases at high speed and with accuracy exceeding the current industry standard. By condensing a wide range of genetic tests into a single, cost-effective platform, the proposed technology has the potential to enable improvements in the diagnosis and personalized treatment of a wide variety of health conditions, as well as the ability to deliver individually tailored preventive medicine. The $100 genome would also have important applications in medical research and drug development.

The NIST-ATP award is in the form of an $8.8 million matching grant for the five years of the project. The total project cost is expected to be approximately $17.8 million, including both the grant award from NIST-ATP and the matching funds that will be provided by the joint venture partners. Further details of the joint venture between BioNanomatrix and Complete Genomics were not disclosed.

About BioNanomatrix

BioNanomatrix is developing breakthrough nanoscale whole genome imaging and analytic platforms for applications in clinical genetics, cancer diagnostics and other biomedical applications. The company is appl
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SOURCE BioNanomatrix, Inc. Copyright©2007 PR Newswire. All rights reserved

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