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The new fundraising effort follows on the heels of a $101.8 million public stock offering Bionano closed last week, at a price of $3.05 per share.

Buoyed by a string of positive news, the San Diego firm's stock was up 22 percent in Friday afternoon trading and 80 percent from last week.

The firm reported preliminary revenues between $3.8 million and $4.2 million for the fourth quarter of 2020, up from $2.8 million in Q4 of 2019.

A recently published preprint study demonstrated the superiority of the company's optical mapping technology for detecting large structural variations in de novo sequencing data.

In PNAS this week: ultrarare variants contribute to aging-related hearing loss, telomeres of cells infected with herpesvirus, and more.

Illumina Ventures led the round for the Santa Clara, California-based firm, which is developing applications for its optical detection technology.

For the quarter ended Sept. 30, the company reported $2.2 million in revenues, down from $3.3 million in Q3 of 2019 but beating the average Wall Street estimate.

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.

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The Wall Street Journal reports on gaps in COVID-19 testing affecting less affluent urban areas and rural locations.

According to NBC News, new SARS-CoV-2 variants are making it harder for researchers to model the course of the pandemic.

The New York Times reports that experts say President Joe Biden's goal of vaccinating 1 million people a day in the US in the next 100 days is too low a bar.

In Science this week: single-cell lineage tracing technique applied to study lung cancer metastasis, and more.