BioNanomatrix, Complete Genomics in Joint Venture

BioNanomatrix Inc. of Philadelphia, a developer of nanofluidic analytic platforms, and Complete Genomics Inc. of Mountain View, Calif., a genome sequencing company, have formed a joint venture to develop a system that can sequence the human genome for use in routine medical care. They plan to reduce the cost and time necessary to sequence the genome, targeting a system that will perform the task in 8 h for less than $100. The US National Institute of Standards and Technology Advanced Technology Program has awarded the venture an $8.8 million grant, which will be matched by the partner companies.