X PRIZE Foundation Adds Genomics Competitor

The Santa Monica-based X PRIZE Foundation announced this morning that it has added a new company to its list of competitors for the $10M Archon X Prize for Genomics. The foundation said that Reveo, Inc., has joined VisiGen Biotechnologies, Inc., 454 Life Sciences and the Foundation for Applied Molecular Evolution as one of the teams competing for the prize, which promises to give $10M to the first team to develop a tool that can sequence 100 human genomes in 10 days, at less than $10,000 per genome and 99.999% accuracy. The Archon X Prize for Genomics is the latest effort by the foundation, which was behind the successful launch of the first commercial orbital space vehicle.