Complete Genomics has pulled off the amazing feat of sequencing 14 full human genomes for a group of customers in the medical research field at a cost of only about $4,000 each--down from about $250,000. And the start-up sequencing outfit says it is on track to hit its goal of sequencing 10,000 genomes by the end of 2010.

"We probably doubled the known genomes in the world," Complete Genomics CEO Clifford Reid tells the San Jose Mercury News. "This is just the beginning. The real action starts later next year. Then you'll start to see important medical results come out."

Only days ago Complete Genomics announced that it had raised $45 million from investors excited by the potential of an economic sequencing technology. By radically reducing the cost of sequencing, Complete Genomics expects to cater to a large field of developers looking for genetic clues to treat disease and identify patients most likely to respond to new therapies. Pacific Biosciences has garnered $260 million from investors intent on making sequencing a routine feature in healthcare.