Skip to main content
Premium Trial:

Request an Annual Quote

Genome Mapping Firm BioNano Raises $53M in Series C Round

NEW YORK(GenomeWeb) – Genomic mapping firm BioNano Genomics today announced it completed a Series C financing round that raised $53 million. 

The funds will be used to increase the installed base of the company's Irys platform and to develop next-generation platforms and technologies. Legend Capital and Novartis Venture Fund co-led the round. New investors in the round included Federated Kaufmann Fund and Monashee Investment Management. Existing investors Domain Associates, Battelle Ventures, and Gund Investment also participated in the round. 

BioNano also said that Legend Capital Executive Director Darren Cai and Novartis Venture Fund Managing Director Campbell Murray have joined BioNano's board.

A long-read genome mapping solution, the Irys system provides information about the location, order, and orientation of functionally relevant components of the genome, such as the size and location of long repeats and integration sites. It enables the detection of structural variations, including insertions, deletions, inversions, translocations, and repeats that "are fundamental to understanding, diagnosing, and treating many human diseases," BioNano said in a statement, adding structural variations also play a crucial role in the understanding of food crops and other agricultural biotechnology areas. 

Such variations have been referred to as the "inaccessible genome," the San Diego-based firm said, because other genomic tools miss their detection. "Understanding structural variation is essential to advancing the clinical impact and diagnostic use of genomics," Tracy Warren, chair of BioNano's board, said. The Irys system "offers the missing link between sequencing data and actionable clinical data." 

BioNano previously said in a regulatory document in June that it had raised $5 million. In October, it said it raised $10 million. A company spokesperson said those amounts are included in the Series C financing.

The Scan

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.