Peter Diamandis, chair of the X Prize Foundation in Playa Vista, California, says the Archon Genomics X Prize has been abandoned because it was outpaced by innovation.

Announced seven years ago, the prize asked companies to design devices that could sequence 100 human genomes in 30 days or less, with additional requirements for accuracy and cost. Today, companies are routinely sequencing human genomes for less than the $10,000 per genome the prize originally required.