- Tuesday, 9 February 2010
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Everything that can be invented has been invented - US patent office 1899
Intel invests in genome-sequencing outfit
A BUNCH of fad-wadded companies is to bung $100 million at a start-up that aims to be able to deliver individuals' DNA sequence a genome in a matter of minutes.
The firm is Pacific Biosciences of California Inc. and acccording to the Wall St Journal, the investors include include Intel Capital, Deerfield Capital Management LLC, T. Rowe Price Group, Morgan Stanley, FMR LLC, Alliance Bernstein Holding LP, Maverick Capital Ltd., Redmile Group, Alloy Ventures; DAG Ventures; Teachers' Private Capital; Kleiner Perkins Caufield & Byers; and Mohr Davidow Ventures.
The aim is to produce the high-speed genome sequencing system by 2010/ of DNA introduce in 2010. According to the story, pharmaceutical companies will be able to use the technology to weed out individuals who may or may not respond to drugs developed in the future.
The Human Genome Project was completed in 2003 at a cost $450 million. Pacific Biosciences reckons that within 2013 it will be able to sequence a genome in 15 minutes. Initially it will take a few days, chief executive Hugh Martin said.
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