Bionano Genomics, which has commercialized a genome evaluation platform utilized in laboratories the world over, is buying software program agency BioDiscovery in a $90 million deal supposed to broaden the attain of its expertise, the corporate introduced Tuesday.
The expertise of San Diego-based Bionano expertise provides what’s referred to as optical genome mapping, which is an evaluation of the genome that reveals structural variations within the DNA of 1 particular person in comparison with one other. These structural variations could cause illness. Scientists and clinicians use the expertise to search out and establish these variations as a approach of higher understanding a illness, or to search out targets for potential new medicine and diagnostics.
The Bionano platform, referred to as Saphyr, is comprised of an instrument, a consumable chip that holds a pattern, and software program that gives structural variation evaluation. The publicly traded firm reported whole international income of $8.5 million final yr.
The software program of El Segundo, California-based BioDiscovery collects varied items of genetic information, offering a full image that may be analyzed and interpreted. Like Bionano, BioDiscovery has clients the world over. In line with a Bionano investor presentation, BioDiscovery’s 2020 income was $3.6 million, and the 25-year-old firm is worthwhile.
Bionano stated within the presentation that it sees software program as the important thing to bringing its optical genome mapping providing to extra customers. Whereas Bionano makes a speciality of optical genome mapping, medical analysis labs need information analyses throughout platforms. BioDiscovery’s software program, referred to as NxClinical, can combine optical genome mapping with next-generation sequencing, in addition to information from arrays. The plan is to combine Bionano’s optical genome mapping information right into a commercially accessible model of NxClinical.
“Integration of all genomic information varieties into one software program answer could make [optical genome mapping] ubiquitous,” Bionano stated within the presentation.
The monetary phrases of the BioDiscovery acquisition break right down to $50 million in money and $40 million in Bionano inventory. An extra $10 million money is tied to the achievement of undisclosed business milestones. Vesting of a portion of the fairness a part of the transaction is tied to key staff of BioDiscovery staying with the corporate; a part of the money cost is tied to the achievement of full integration of optical genome mapping information into the BioDiscovery platform.
The businesses anticipate the transaction to shut by Oct. 22. When it does, Soheil Shams, BioDiscovery’s founder and CEO, will be a part of Bionano as chief informatics officer.
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