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PerkinElmer will provide biochemical and genetic testing to support BioMarin's testing program aimed at Batten disease and mucopolysaccharidosis disorders.
Revenues have begun to recover in Q3, driven by a ramp in SARS-CoV-2 testing, and the firm now expects full-year 2020 revenues to exceed its prior guidance.
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 coverage comes after the women's health diagnostics firm went public last month, seeking up to $100 million in the offering.
