Complete Genomics launches, becomes world's first large-scale human genome sequencing company

Company to sequence 1,000 human genomes in 2009 for $5,000 each

MOUNTAIN VIEW, Calif. — Oct. 6, 2008 — Complete Genomics Inc., a third-generation human genome sequencing company, today announced its formal launch as the world's first provider of large-scale human genome sequencing services.

The company, which was established in March 2006, has been operating in "stealth mode" from a 32,000-square-foot facility near San Francisco. For the past two and a half years, Complete Genomics has been reinventing the process of DNA sequencing based on pioneering technology invented by its founders and refined by a team of 100 employees with expertise in DNA engineering, molecular biology, instrumentation, semiconductors and high-performance computing. The convergence of these fields in Silicon Valley has allowed Complete Genomics to sequence its first complete human genome, providing proof-of-concept for its disruptive new technology and demonstrating the high accuracy and low cost of its approach.

Business Model

Complete Genomics is building the world's largest commercial human genome sequencing center. It will offer high-quality, high-throughput, affordable, complete human genome sequencing services to pharmaceutical and biotechnology companies as well as other medical researchers that were previously priced out of the market. By offering a sequencing service instead of following the traditional instrument sales model, Complete Genomics is relieving its customers of operational, computational and capital purchase burdens, allowing them to focus their resources on scientific discovery.

Price Point

"We will be the first company to sequence complete human genomes for less than $1,000 in material costs," said Dr. Clifford Reid, chairman, president and chief executive officer of Complete Genomics. "This breakthrough materials cost, combined with our low per-genome instrument, labor and overhead costs, will allow us to offer complete human genomes for just $5,000 in Q2 2009."

"This $5,000 price point, combined with the scale of our sequencing center, will dramatically increase the availability and affordability of human genome sequencing. For the first time, our customers can conduct systematic studies of the genetic basis of disease and drug response. Our sequencing services will be one of the core enablers of the impending revolution in personalized medicine," Reid added.