The health IT and precision oncology arm of Patrick Soon-Shiong's NantWorks conglomerate narrowed its quarterly net loss by 32 percent during the quarter.
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 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 companies will pair sequencing with genotype-phenotype matching and analytics in pursuit of wider access to precision medicine and faster, more accurate diagnoses.
The framework, called HEAL, could be used as an early screening test for AAA and as a personal health management tool. In addition, it may be applicable to other complex diseases.
Farsight Genome Systems is touting the rapid scalability of its analytic pipeline as it seeks to make its technology "future-proof" for clinical genomics labs.
