NEW YORK (GenomeWeb News) – The X Prize Foundation tomorrow plans to announce the $10M Genome X Prize, the organization said today.
As GenomeWeb News reported in February, the genomics community had been anticipating the foundation’s second prize to address a technology for rapid, cheap whole-genome sequencing.
At the time, X Prize spokesperson Ian Murphy said the genome award could run between $5 million and $20 million. Organizers have said in the past that one goal could be to award the first team to decode the DNA of 100 or more people in a matter of weeks.
Murphy has said the foundation doesn't expect anyone to claim the prize for at least five to 10 years.
The annoucnement will be made at a press conference at the National Press Club at 10 AM Eastern time. Participants will include Craig Venter; Francis Collins; Peter Diamandis, founder and chairman of the X Prize Foundation; Stewart Blusson, president of Archon Minerals; and Sharon Terry, president and CEO of the Genetic Alliance.
The non-profit X Prize Foundation, based in Santa Monica, Calif., uses huge cash awards to encourage scientific innovation. It awarded its first prize of $10 million in 2004 to Mojave Aerospace Ventures for flying a specially designed aircraft to the sub-orbital altitude of 100 kilometers on two consecutive flights, within two weeks.