Where are John and Todd?

A new company backed by OVP Venture Partners is coming out of stealth mode, promising to map a person’s entire genetic blueprint for $5,000.

The company, Complete Genomics Inc., is based in Silicon Valley, and is the latest entrant into the hot field of personal genetic analysis.

The company will begin mapping entire human genomes starting in mid-2009. It plans to sequence 1,000 genomes in 2009 and 20,000 genomes in 2010.

The company has already lined up its first customer, the nonprofit Institute for Systems Biology in Seattle. ISB president Leroy Hood, a genomics pioneer, is a member of Complete Genomics’ scientific advisory board.

A number of companies — including 23andMe, which is backed by search giant Google Inc. — have garnered national attention for offering personal genetic testing and analysis. 23andMe recently slashed the price of its “personal genome service” to $399.

OVP managing director Chad Waite said many of the personal genetics companies out there today offer a small subset of the human genome, while Complete Genetics plans to give the entire human genetic blueprint. Complete Genomics isn’t targeting consumers directly but plans to work with pharmaceutical companies and research laboratories, which could use its genome data for clinical trials, for example, Waite said.

Complete Genomics was founded in March 2006 and has raised $46 million in venture capital. Along with OVP, investors include Highland Capital, Prospect Ventures, Enterprise Partners and Genentech Inc. The New York Times has a piece on the company today.

– Eric Engleman, eengleman@bizjournals.com