BioNanoatrix and Complete Genomics Receive $8.8 Million NIST-ATP Award to Develop Sequencing Platform for $100 Genome

- Project Combines Novel Gene Sequencing Chemistry and Advanced Nanofluidic

Technology to Sequence Entire Human Genome in Eight Hours at a Cost of $100


Sep 27, 2007, 01:00 ET from BioNanomatrix, Inc.

    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.
     "We tried to approach this project from the perspective of the
 clinician, looking at the requirements and opportunities associated with
 incorporating genetics into routine clinical diagnostics," said Dr. Radoje
 (Rade) Drmanac, chief science officer and co-founder of Complete Genomics.
 "Accuracy, speed and low cost were paramount considerations. While there
 are a number of powerful and elegant sequencing strategies available or
 under development, we determined that we needed a completely novel approach
 to overcome their inherent limitations and achieve our $100 cost objective.
 We are optimistic that the combination of our two highly innovative
 approaches has a good chance of success. "
     The joint venture has proposed adapting a novel DNA sequencing
 chemistry combined with linearized nanoscale DNA imaging to create a system
 that can "read" very long DNA sequences of greater than 100,000 bases at
 high speed and with accuracy exceeding the current industry standard. By
 condensing a wide range of genetic tests into a single, cost-effective
 platform, the proposed technology has the potential to enable improvements
 in the diagnosis and personalized treatment of a wide variety of health
 conditions, as well as the ability to deliver individually tailored
 preventive medicine. The $100 genome would also have important applications
 in medical research and drug development.
     The NIST-ATP award is in the form of an $8.8 million matching grant for
 the five years of the project. The total project cost is expected to be
 approximately $17.8 million, including both the grant award from NIST-ATP
 and the matching funds that will be provided by the joint venture partners.
 Further details of the joint venture between BioNanomatrix and Complete
 Genomics were not disclosed.
     About BioNanomatrix
     BioNanomatrix is developing breakthrough nanoscale whole genome imaging
 and analytic platforms for applications in clinical genetics, cancer
 diagnostics and other biomedical applications. The company is applying its
 expertise in nanochips, nanodevices and nanosystems to develop its patented
 platform technology to provide fast, comprehensive, and low-cost analysis
 of genomic, epigenomic and proteomic information with sensitivity at the
 single cell/single molecule level. BioNanomatrix' technologies are licensed
 exclusively from Princeton University. Founded as a spin-out of Princeton
 University in 2003, the company is headquartered in Philadelphia,
 Pennsylvania. For more information, visit:
     About Complete Genomics
     Complete Genomics Inc. (CGI) is a high-performance DNA sequencing
 company whose mission is to dramatically reduce the cost of DNA sequencing
 for research, drug development, and diagnostic applications. Founded in
 2005, the company has developed a novel combination of high-density DNA
 nanoarrays, sequencing-by-hybridization and combinatorial probe-ligation
 chemistry, and high-performance computing techniques that promise to
 provide researchers and clinicians with fast, accurate, and inexpensive
 complete human genome sequencing. For more information, visit:
     Barbara Lindheim
     GendeLLindheim BioCom Partners
     212 918-4650

SOURCE BioNanomatrix, Inc.