NEW YORK (GenomeWeb News) - NABsys, a next-generation sequencing company based in Providence, RI, said today that it has purchased DNA hybridization company GeneSpectrum in an all-stock transaction.
NABsys said it will combine GeneSpectrum's probe design and hybridization techniques with its nanopore-based technology, which it has licensed from Brown University, to sequence human DNA at dramatically cheaper rates.
NABsys said its goal is to reduce the cost of sequencing a human genome from its current level of $10 million to $1,000 per genome, which the company said would take DNA sequencing from the research lab to the doctor's office.
Financial terms of the agreement were not disclosed.
John Oliver, co-founder of GeneSpectrum, has been appointed vice president of R&D at NABsys.