SAN DIEGO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) announced today that its Saphyr system has been adopted through reagent-rental agreements by two renowned institutions in Australia and Slovenia: the Royal North Shore Hospital in Northern Sydney, New South Wales, Australia; and the University Medical Center Ljubljana in Ljubljana, Slovenia. Both hospitals aim to assess Saphyr’s potential for diagnosing leukemias as compared to current standards of care, including karyotyping, chromosomal microarray and fluorescence in situ hybridization (FISH).
To date, Bionano has successfully driven adoption of its Saphyr system for use in cytogenomic analysis throughout some of the largest markets for clinical research in Europe, North America and Asia. Clinical validation studies in these regions continue to show that Saphyr is capable of detecting the variants that are routinely identified by karyotyping, by microarray and those typically analyzed by FISH, combined. Based on these successes, Bionano is now expanding Saphyr adoption in new markets. Through this expansion, Saphyr will be utilized in clinical development programs at each adopting institution in an effort to replace traditional cytogenetic technologies.
“We are thrilled to have healthcare institutions in new markets across the globe adopt Saphyr with the goal of incorporating our technology into their clinical workflow,” said Erik Holmlin, Ph.D., chief executive officer of Bionano Genomics. “We believe that their use and adoption of Saphyr is an important validation of our technology and an important milestone as we aim to make Saphyr an essential part of the future of cytogenomic analysis of genetic diseases, leukemias and solid tumors. In particular, the Royal North Shore Hospital is part of the national health system in Australia’s most populous state and, therefore, we believe their adoption of Saphyr is a key step to entering the Australian market.”
About Bionano Genomics
Bionano is a genome analysis company providing tools and services based on its Saphyr system to scientists and clinicians conducting genetic research and patient testing, and providing diagnostic testing for those with autism spectrum disorder (ASD) and other neurodevelopmental disabilities through its Lineagen business. Bionano’s Saphyr system is a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets and to streamline the study of changes in chromosomes, which is known as cytogenetics. The Saphyr system is comprised of an instrument, chip consumables, reagents and a suite of data analysis tools, and genome analysis services to provide access to data generated by the Saphyr system for researchers who prefer not to adopt the Saphyr system in their labs. Lineagen has been providing genetic testing services to families and their healthcare providers for over nine years and has performed over 65,000 tests for those with neurodevelopmental concerns. For more information, visit www.bionanogenomics.com or www.lineagen.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) convey uncertainty of future events or outcomes and are intended to identify these forward-looking statements. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: the anticipated use of Saphyr by the institutions named in this press release; potential broader adoption or use of Saphyr for clinical research in Europe, North America, Australia, Asia and other regions; Saphyr’s effectiveness and utility in clinical settings; Saphyr’s capabilities in comparison to other genome analysis technologies and potential to replace traditional cytogenetic technologies; our plans to expand into new markets; and our assessments regarding market size and opportunities. Each of these forward-looking statements involves risks and uncertainties. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include the risks and uncertainties associated with: the impact of the COVID-19 pandemic on our business and the global economy; general market conditions; changes in the competitive landscape and the introduction of competitive products; changes in our strategic and commercial plans; our ability to obtain sufficient financing to fund our strategic plans and commercialization efforts; the ability of medical and research institutions to obtain funding to support adoption or continued use of our technologies; the loss of key members of management and our commercial team; and the risks and uncertainties associated with our business and financial condition in general, including the risks and uncertainties described in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2019 and in other filings subsequently made by us with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.