Bionano Genomics, Inc. (BNGO) announced that it has entered into a definitive agreement to acquire BioDiscovery, Inc., a leading software company with best-in-class solutions for analysis, interpretation and reporting of genomics data. The transaction is expected to accelerate and broaden Bionano’s market leadership in digital cytogenetics and comprehensive genome analysis. As a result of the transaction, Soheil Shams, PhD, Founder and Chief Executive Officer of BioDiscovery, will join Bionano’s leadership team as Chief Informatics Officer.
“Over the last twenty years, BioDiscovery’s talented team has developed best-in-class software solutions to enable broader adoption of genomics technologies. N x Clinical 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,” said Erik Holmlin, PhD, Chief Executive Officer of Bionano Genomics. “This acquisition accelerates our efforts to make OGM ubiquitous by enabling us to simplify the assessment of clinically-relevant variants in cytogenomics applications, potentially reducing interpretation time per sample and expanding our reach into the discovery and translational research markets where the combination of NGS and OGM can reveal more answers in genetic disease and cancer research.”
Dr. Shams added, “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.”
Strategic Benefits of the Transaction
Enhances Bionano’s Position in Variant Analysis and Genomics
BioDiscovery’s N x Clinical software is an industry leading platform-agnostic solution that integrates NGS and microarray data to provide data analysis, visualization, interpretation and reporting of copy number variants (CNVs) and single-nucleotide variants (SNVs) across the genome in one consolidated view
Bionano and the BioDiscovery teams will work to develop a version of N x Clinical that incorporates OGM data alongside existing data types of NGS and microarrays. Future plans include adding capabilities for RNA expression profiling, epigenetics with methylation, and possibly one day proteomics
Accelerates adoption of OGM by simplifying the data analysis workflow
Adding OGM data to BioDiscovery’s N x Clinical streamlines the process of visualizing, interpreting and reporting structural variant calls, potentially transforming a process that can take hours into one that requires less than 20 minutes
Labs that already use BioDiscovery’s N x Clinical could find it substantially easier to adopt OGM into their existing data analysis pipeline, addressing a key barrier to adoption
BioDiscovery specializes in delivering superior data analysis, visualization, interpretation and reporting solutions with an emphasis on structural variation. BioDiscovery has been delivering platform-agnostic data interpretation solutions tailored for cytogenomics and molecular pathology labs in genetic disease and cancer research markets globally for over 20 years.
Bionano’s transaction consideration will be up to $100 million, consisting of a combination of cash and equity. A portion of the equity is subject to vesting based on continued service of key employees and a portion of the cash is contingent on achieving full integration of OGM data into BioDiscovery’s software platform. The acquisition is expected to close before October 22, 2021.