Bionano Genomics to acquire genomics software provider BioDiscovery
Bionano Genomics (BNGO), a genome analysis company, has agreed to acquire BioDiscovery, a California-based software company engaged in providing solutions for analysing, interpreting, and reporting genomic data.
The purchase price for the clinical genomics software provider could be up to $100 million, in the form of equity and cash.
A part of the equity is conditional on the continued service of BioDiscovery’s key employees. Another part of the equity is subject to the full incorporation of optical genome mapping (OGM) data into BioDiscovery’s software platform.
The acquisition is expected to consolidate Bionano Genomics’ market share in digital cytogenetics, as well as complete genome analysis.
BioDiscovery’s NxClinical software is a platform-agnostic solution, which incorporates next-generation sequencing (NGS) and microarray data for analysis, visualization, interpretation, and reporting of copy number variations (CNVs) and single-nucleotide variations (SNVs) throughout the genome in a single, unified view.
Currently, Bionano Genomics is engaged in offering tools and services that are based upon the Saphyr system to clinicians and scientists who conduct research in genetics as well as patient testing. The San Diego-based company also provides tests for diagnosing patients with Autism spectrum disorders (ASD) as well as other neurodevelopmental disabilities via its Lineagen business.
Soheil Shams — Founder and CEO of BioDiscovery said: “I believe Bionano Genomics is a natural fit for BioDiscovery, with a shared passion for delivering an exceptional customer experience and revealing all answers across the genome.
“Bionano’s Saphyr system, which delivers OGM data today, enables Bionano to offer the most comprehensive genome analysis by combining NGS with OGM data in one integrated workflow so all variants across the genome, from single base to full chromosomes, can be assessed for better insights towards elevating human health.”
Following the acquisition, the teams of Bionano Genomics and BioDiscovery will be working together to create a new version of the NxClinical platform, which will integrates OGM data along with existing data types of NGS as well as microarrays.
The future plans include acquiring the capabilities for RNA expression profiling, epigenetics with methylation and proteomics.
Bionano Genomics said that the incorporation of OGM data to the NxClinical platform simplifies the procedure of visualizing, interpreting, and the reporting of structural variant calls, while transforming a process that can last hours to less than 20 minutes.
Furthermore, labs that are already using BioDiscovery’s NxClinical platform may find it significantly easier to incorporate OGM data in their existing data analysis pipeline, which will eliminate one of the biggest obstacles to its adoption.
Erik Holmlin — CEO of Bionano Genomics said: “Over the last twenty years, BioDiscovery’s talented team has developed best-in-class software solutions to enable broader adoption of genomics technologies.
“NxClinical is one of the most promising tools that integrates NGS and microarray data across the genome in one consolidated view, and we are thrilled to welcome Soheil and his team to Bionano as we work to transform the way the world sees the genome.”
The deal is expected to close by 22 October 2021.