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The startup wants to serve the 50 percent or so of genetic disease patients who haven't obtained a molecular diagnosis despite extensive testing.
The deal consists of cash, Bionano common stock, and assumption of liabilities. Bionano has also paid off $1.1 million loaned to Lineagen under the CARES act.
The firm is hoping that researcher-generated data will soon be published in peer-reviewed papers, while it weathers the COVID-19 pandemic.
As the firm predicted, second quarter revenues were down due to lab closures associated with COVID-19 and totaled $1.2 million.
Because of coronavirus-related shutdowns of customer labs, the San Diego-based firm saw decreased revenues in all geographic regions, especially outside the US.
The public-private partnership has published a paper on a list of indels larger than 50 bp that is already being used to develop new methods.
The San Diego-based genome mapping firm's share price fell below $1.00 for 30 consecutive days, triggering a noncompliance notification from Nasdaq.
The investment bank said the company's molecular diagnostics have the potential to replace microarrays for cytogenetics analysis.
The genome mapping firm had fallen out of compliance with respect to its loan agreement with Innovatus and will prepay $5 million toward the loan principal.
The genome mapping firm's instrument revenues were down 50 percent year over year in the fourth quarter, offset by an increase in consumables revenue.
Novavax has begun a phase III trial of its SARS-CoV-2 vaccine, according to the New York Times.
Vox reports that the Trump Administration may limit student visas for individuals from some countries to two years.
The governor of New York says the state will conduct its own review of any SARS-CoV-2 vaccine, NPR reports.
This week in Science: Neanderthal Y chromosomes replaced by Homo sapiens Y chromosomes, and more.