(Yicai Global) Jan. 12 -- BGI Genomics Co. [SHE: 300676], China's biggest genome sequencing firm, will reduce the price for its personal genome sequencing service to at most USD300 by 2020 and complete the entire process from sampling, sequencing and data analysis within 24 hours, it said yesterday.
Yin Ye, CEO of BGI Genomics, announced the plan at the J.P. Morgan Healthcare Conference yesterday, Sohu Technology Reported. The company also released a 'Periodic Table of Life' plan and will gene sequence all species on Earth to discover the hidden laws of life and better preserve the ecological balance and biodiversity.
The first human genome sequence was completed in 2001 by elite scientists from six countries over 13 years and cost USD3.8 billion. Sequencing costs are declining with the development of the technology. Prices for personal genome sequencing products BGI Genomics introduced in 2016 have dropped to USD600.
The first phase of the project will sequence 157 families under the class Mammalia. BGI Genomics will analyze, interpret and disseminate knowledge of these species via crowd funding in a bid to better understand and protect them.
The J.P. Morgan Healthcare Conference convened in the San Francisco Bay Area in the US state of California on Jan. 8, with more than 450 healthcare companies from across the globe participating in the four-day event. Held in early January each year, the conference is the world's largest and most informative healthcare investment symposium.