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The Celera Genomics launches a human genome sequencing project.

1998

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Claiming to be able to move faster and at a lower cost than the original government-funded Human Genome Project, another sequencing project is launched by American researcher Craig Venter and his firm, Celera Genomics.

Celera also promises to publish their findings in accordance with the terms of the 1996 Bermuda Principles, releasing new data annually. However, they do not permit free redistribution or scientific use of their data, while the publicly-funded Human Genome Project releases their data daily.

In March 2000, President Bill Clinton and Prime Minister Tony Blair will write a statement insisting that all researchers should have "unencumbered access" to the genome sequence. This statement will send Celera's stock crashing, and the biotechnology sector will lose $50 billion over two days.