DNA sequencing of the penicillin bug by Dutch researchers could lead to the development of evermore effective antibiotics – drugs that overcome problems of resistance.
The findings are out just in time for the 80th anniversary of the discovery of penicillin itself by Sir Alexander Fleming.
Full details of the 13,500-gene sequence will be published in Nature Biotechnology in October.
The bug, Penicillium chrysogenum, is used in the production of antibiotics such as amoxicillin, ampicillin, cephalexin and cefadroxil.
Its use in killing bacteria was discovered in 1928 after mould spores accidentally contaminated a petri dish in a laboratory.
Further work discovered it was safe for use in humans.
About one billion people are thought take penicillin every year around the world.
But antibiotic resistance is becoming an increasingly serious problem, as for example has been shown with MRSA.
UK experts have repeatedly cautioned against overuse of antibiotics and warned there is an urgent need for industry to develop new drugs.
Researchers said in addition to combating resistance, the genome sequence may also help to improve the manufacturing of antibiotics.
Dr Roel Bovenberg, a researcher at DSM Anti-Infectives, the biotechnology company behind the genome sequencing, said the four-year project had thrown up "several surprises" which they were investigating further in collaboration with academics.
"It provides insight into what genes encode for, know-how in terms of manufacturing and new compounds to be identified and tested.