NEW YORK (GenomeWeb News) - BioNanomatrix and Complete Genomics said yesterday that they have formed a joint venture that will share an $8.8 million grant from the US National Institute of Standards and Technology to develop technology that will be able to sequence a human genome in eight hours for less than $100.
The five-year matching grant was awarded under NIST's Advanced Technology Program. The companies estimate the total project cost to be around $17.8 million, and said they plan to provide the additional funds to complete the project.
The proposed sequencing platform will use Complete Genomics’ sequencing chemistry and BioNanomatrix’ nanofluidic technology. The companies said they plan to adapt DNA sequencing chemistry with “linearized nanoscale DNA imaging”to create a system that can read DNA sequences longer than 100,000 bases quickly and with accuracy “exceeding the current industry standard.”
Next-generation sequencing technologies have lowered the cost of sequencing the three billion base pairs in the human genome to around $100,000, and the companies noted in a statement that there have been recent “advances that promise to reduce this cost significantly in the coming years, down to as little as $1,000 per individual.”
However, they noted, “no one has previously targeted a price point that would make it possible to sequence everyone's genome."
Earlier this week, BioNanomatrix said that it had received a $200,000 grant from the National Cancer Institute to develop a nanofluidics technology for cell fractionation in partnership with Princeton University.