Complete Genomics slashes the cost of genomic sequencing

Complete Genomics has pulled off the feat of sequencing 14 full human genomes for a group of customers in the medical research field at a fraction of the old cost. The company reports that it has slashed the price point on sequencing from $250,000 to $20,000. And the start-up says it is on track to hit its goal of sequencing 10,000 genomes by the end of 2010.

"We probably doubled the known genomes in the world," Complete Genomics CEO Clifford Reid tells the San Jose Mercury News. "This is just the beginning. The real action starts later next year. Then you'll start to see important medical results come out."

Only days ago Complete Genomics announced that it had raised $45 million from investors excited by the potential of an economic sequencing technology. By radically reducing the cost of sequencing, Complete Genomics expects to cater to a large field of developers looking for genetic clues to treat disease and identify patients most likely to respond to new therapies. Pacific Biosciences has garnered $260 million from investors intent on making sequencing a routine feature in healthcare.

- read the story from the San Jose Mercury News 

Clarification: This story originally reported that the sequencing cost had been cut to $4,000, but a spokesperson for the company says that the original San Jose Mercury News story was inaccurate, and that the actual figure is $20,000.