The Archon X PRIZE Foundation has launched the Archon X PRIZE for Genomics, offering a cash pot of $10 million to that who can develop the technology that can successfully map 100 human genomes in 10 days, with an accuracy of no more than one error in every 10,000 bases sequenced, with sequences accurately covering at least 98% of the genome, and at a recurring cost of no more than $10,000 per genome.

"The X PRIZE Foundation has created a unique philanthropic prize model designed to stimulate research and accelerate development of radical breakthroughs that will benefit humanity," explains Dr. Peter H. Diamandis, Founder and Chairman of the X PRIZE Foundation. "The Archon X PRIZE for Genomics will revolutionize personalized medicine and custom medical treatment, forever changing the face of medical research and making genome sequencing affordable and available in every hospital and medical care facility in the world."

See more about the Archon X PRIZE for Genomics webpage for details, including the prize overview page.