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BioNanomatrix and Complete Genomics Receive $8.8 Million NIST-ATP Award to Develop Sequencing Platform for $100 Genome
Date:9/28/2007

- Project Combines Novel Gene Sequencing Chemistry and Advanced Nanofluidic Technology to Sequence Entire Human Genome in Eight Hours at a Cost of $100

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PHILADELPHIA, and MOUNTAIN VIEW, Calif., Sept. 27 /PRNewswire/ -- BioNanomatrix, Inc., a company developing breakthrough nanoscale whole genome imaging and analytic platforms, and Complete Genomics Inc. (CGI), a high- performance genome sequencing company, today announced that they have formed a joint venture that has received an $8.8 million grant award from the U.S. National Institute of Standards and Technology Advanced Technology Program (NIST-ATP) to develop a system capable of sequencing the entire human genome in eight hours at a cost of less than $100.

"We and our colleagues at CGI are thrilled that NIST-ATP sees the potential of our combined technologies to achieve this ambitious goal," said Dr. Michael Boyce-Jacino, president and CEO of BioNanomatrix. "Our joint venture team will pool our innovative technologies--Complete Genomics' novel sequencing chemistry and our advanced nanofluidic platform--to develop a breakthrough technology that will radically decrease the cost and time required for sequencing the genome, making it possible for the first time for genetic information to be incorporated into routine medical care."

Today, the cost of sequencing the roughly three billion base pairs in the human genome is over $100,000. Despite advances that promise to reduce this cost significantly in the coming years, down to as little as $1,000 per individual, no one has previously targeted a price point that would make it possible to sequence everyone's genome. If successful, the $100 genome project could transform the role of genomics in medicine, making whole genome sequencing feasible for routine use in medical care and delivering far more diagnostic and predictive information than the genetic tests available today.

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SOURCE BioNanomatrix, Inc.
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