Industry experts say a receptive market and investor interest in new technologies have spurred the increase in genomics tools and molecular diagnostics IPOs.
The firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.
Several groups are comparing Bionano with standard cytogenetic assays like karyotyping, FISH, or array CGH for blood cancer or genetic disease testing.
Angle this week announced its preliminary financial results for the fiscal year ended April 30.
The technology could analyze, in one assay, all structural variants known to be diagnostic and prognostic for blood cancers, potentially replacing serial FISH testing.
The firms will develop tests in the hematology oncology space where detecting large structural variations of the genome is crucial for accurate diagnoses.