You may find more results for this query on our sister sites: GenomeWeb and Precision Oncology News.
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.
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 firm is offering approximately 13.8 million shares and the same number of warrants to purchase shares, which will be sold together.
The technology could analyze, in one assay, all structural variants known to be diagnostic and prognostic for blood cancers, potentially replacing serial FISH testing.