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Posts Tagged ‘co:Complete-Genomics’

complete-genomics-logo.gifThings are starting to get crowded in the race to sequence entire human genomes quickly and relatively cheaply — usually meaning somewhere in the territory of $1,000 per genome, compared to the $100,000+ it costs with current technology. At least four startups have taken on the $1,000 genome challenge, two of which have already been acquired by larger companies. (See details at the end of the first item here.)

bionanomatrix-logo.jpgLast week, two relatively new venture-backed startups — Complete Genomics, of Menlo Park, Calif., and Philadelphia’s BioNanomatrix — considerably upped the ante in what I’ve started to think of as the “fast, cheap and out-of-control” genome race when they announced a joint venture that aims to sequence an entire human genome in eight hours for less than $100. (Technically, it appears that this figure applies only to a single set of the 23 paired chromosomes every individual carries, so a spiffy new high-resolution “diploid” genome like Craig Venter’s would presumably take more like 16 hours and cost somewhere around $200. That’s still dirt cheap, of course.)

This is, of course, some mighty big talk from companies that virtually no one had heard of until recently. (See our coverage of Complete Genomics here.) The companies still aren’t saying exactly how they hope to pull off this feat, although they’ve disclosed a bit more detail in their latest announcement. Apparently they plan to adapt a “novel DNA sequencing chemistry” (presumably from Complete Genomics) and combine it with a “linearized nanoscale DNA imaging” scheme (BioNanomatrix’s technology, it appears) in a way that allows them to read up to long DNA stretches of up to 100,000 nucleotide bases — those DNA “letters” we’re always carrying on about — at a time.

What, exactly, that means and whether it’s possible is something the experts will have to hash out. The best I can figure at the moment is that since BioNanomatrix specializes in “nanofluidics” systems — little gizmos that are essentially labs-on-a-chip at near-atomic dimensions — it might somehow be possible to snake long stretches of DNA into a tiny channel on a chip, where having the molecule laid out end-to-end might make it easier to tag and read out the bases in one fell swoop. But that’s just a guess at this point.

Another interesting element here is that these companies bluntly acknowledge the direct threat they pose to today’s genetic-testing industry. Existing genetic tests usually rely on antibodies or other probes that identify a single gene variant; newer varieties examine a handful of single-base variations that have been correlated with something like your risk of heart disease. The ability to read out an individual’s entire genome, however, would effectively demolish the need for such tests, as any the information the tests could turn up would be right there in your genome. (The same issue arises, albeit in somewhat less-dramatic form, with the SNP genome “outlines” that startups like 23andMe and Navigenics would like to provide — our coverage is here, here and here.) This is a potentially huge problem for companies like DNA Direct, one of the first consumer-oriented genetic-testing startups. Expect to see some fireworks on this front before it’s all settled.

The joint venture recently received an $8.8 million grant from the National Institute of Standards and Technology, which for some reason got virtually no attention at the time but for the noble exception of the Philadelphia Business Journal.

Here’s some additional detail from the press release:

“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.

Featured companies: CG Therapeutics, Complete Genomics, ConforMIS, Flexible Medical Systems, LeMaitre Vascular, MAP Pharmaceuticals, ParaPro, Vascular Architects, Zars Pharma

(UPDATED on 10/1/07: See below.)

[NOTE: Posting has been slow recently for personal reasons. I'll be doing my best to catch up today.]

complete-genomics-logo.jpgComplete Genomics raises funding for high-speed sequencing — Complete Genomics, a Mountain View, Calif., developer of high-speed genome sequencing technology, said it raised an undisclosed sum in a second funding round, VentureWire reports (subscription required). The company said the funding was significantly larger than its $6 million first round last year, but declined to say by how much. Investors included OVP Venture Partners and Enterprise Partners Venture Capital.

Complete Genomics is one of several companies aiming to bring down the cost of genome sequencing in order to, among other things, eventually make it possible for individuals to base medical and lifestyle decisions on their individual genetic profiles. The company, founded in 2005, hasn’t disclosed many details about its technological approach, although its Web site vaguely describes it as “a novel combination of high-density DNA nanoarrays, sequencing-by-hybridization and combinatorial probe-ligation chemistry, and high-performance computing techniques.”

The high-speed sequencing market has been in a state of flux recently. Cambridge, Mass.-based Helicos Biosciences, went public in May. Solexa, a U.K.-based sequencer that later moved to the U.S., also went public in 2005 via a reverse merger and then was acquired earlier this year by Illumina. 454 Life Sciences was acquired by Roche earlier this year. VentureWire also lists Pacific Biosciences as a recent venture-backed sequencing company.

UPDATE: Complete Genomics announced an interesting new joint venture with BioNanomatrix of Philadelphia ten days after this funding; see our coverage here.

map-pharma-logo.gifMAP Pharma prices IPO, looks to raise $92M — Mountain View, Calif.-based MAP Pharmaceuticals said it plans to price its initial-offering shares at $14 to $16 apiece, a range that could potentially raise $92 million. That’s up from the $86 million take MAP estimated in June (see our coverage at the time).

MAP makes reformulated versions of existing drugs for delivery via inhalers. Its lead candidate is a new inhaled version of budesonide, a corticosteroid used to treat pediatric asthma.

conformis-logo.jpgImplant maker ConforMIS ponders new funding, possible IPO — ConforMIS, a Lexington, Mass., medical-device company, is raising a “mezzanine” round of financing while it plans for an IPO within two years, VentureWire reports. The company, which makes personalized knee implants, raised a $10 million “debt facility” in August (see our coverage in the second item here).

le-maitre-logo.jpgLeMaitre acquires Vascular Architects for $2.8M — LeMaitre Vascular, a publicly traded maker of devices and implants for vascular surgery based in Burlington, Mass., acquired venture-backed Vascular Architects of San Jose, Calif., for $2.8 million in cash. Vascular Architects makes devices for the removal of plaque deposits that can clog arteries and cause life-threatening blood clots. The company had previously raised more than $42 million in equity and $5 million in debt, according to VentureWire.

parapro-logo.jpgLice-drug maker ParaPro gets $2.1M grant — ParaPro, a Carmel, Ind., specialty pharmaceutical company developing a topical cream for treating head lice, received a $2.1 million grant from Indiana’s 21st Century Research and Technology Fund. The company said the funding will finance late-stage trials of its lice treatment, which it calls Spinosad.

cg-tx-logo.jpgCG Therapeutics names Christopher Henney chairman, seeks funding — Chris Henney, who co-founded three of Seattle’s most successful biotechs — Immunex, Icos and Dendreon — is now also the new chairman (PDF link) of CG Therapeutics, a new cancer-vaccine company in Seattle. The company said Henney will play a key role in lining up corporate partners and seeking new funding. CG Therapeutics is currently working on a first funding round intended to support mid-stage trials of its cancer vaccine in lung and colon cancer.

zars-pharma-logo.jpgZars Pharma delays IPO — Salt Lake City’s Zars Pharma, a developer of topical drugs, postponed its IPO until next week. Zars priced its IPO at $14 to $16 a share in August, and was slated to hit the market this week. See our previous coverage here and in the third item here.

At that, Zars is in far better shape than Cumberland Pharmaceuticals, which has been expected to go public on a day-to-day basis since mid-August. We last wrote about Cumberland here.

flexible-medical-systems-logo.jpgFlexible Medical Systems raises $1.2M for remote diagnostics — Rockville, Md.-based Flexible Medical Systems, a device and diagnostics maker focused on non-invasive devices that continuously monitor vital signs, raised $1.2 million in a seed financing. “Accredited investors” provided the funding.

FMS is developing diagnostic monitors that continuously draw “interstitial fluid” through the skin without a needle or other punctures. This fluid can theoretically be used to monitor protein levels in blood, although it’s also worth noting that other attempts to do this sort of thing — especially continuous blood-sugar monitoring for diabetics — have had a mixed history.

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