Bionano Genomics Announces Continued Global Expansion in Adoption of its Saphyr System with Addition of Indalo Bio in South Africa, Bringing Advanced Genetic Analysis to Africa
Bionano Genomics has announced the adoption of the Saphyr system for optical genome mapping by Indalo Bio in South Africa, representing the first use of this technology on the continent. Indalo Bio aims to develop assays for analyzing cancer genomes in patients with hematological malignancies and solid tumors. Jo-Ann Kotze, Head of Genetics at Indalo Bio, expressed confidence in OGM's potential to enhance cytogenetic analysis. CEO Erik Holmlin emphasized the importance of expanding access to advanced genetic technologies, particularly in Africa, which could improve patient outcomes globally.
- First adoption of Saphyr system in Africa
- Development of cancer genome assays by Indalo Bio
- Expansion of advanced genetic technology access in Africa
- Dependence on Indalo Bio's ability to successfully develop assays
- Risks associated with market conditions and competition
- Potential impact of COVID-19 on business operations
SAN DIEGO, April 07, 2021 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) announced the adoption of the Saphyr system for optical genome mapping (OGM) by Indalo Bio (Pty) Ltd, an advanced molecular genetics laboratory based in Cape Town, South Africa, marking the first adoption of Saphyr in Africa. Indalo Bio will develop assays on the Saphyr system to analyze the cancer genomes of patients with hematological malignancies and solid tumors. Through its network of contacts and collaborations with pathology groups and hospitals across Africa, Indalo Bio aims to make modern genetic technology available to everyone on the African continent.
Jo-Ann Kotze, Head of Genetics of Indalo Bio, commented, “I have been following Bionano’s progress for years, and have been impressed by the correlations of OGM with standard cytogenetics reported in the validation studies that have been published and presented so far. As I am the National Board Examiner for the specialized field of Cytogenetics of the Society of Medical Laboratory Technologists of South Africa, my goal is to formally register our Saphyr-based laboratory as a training laboratory for the field of Cytogenomics and write OGM into the South African Cytogenetic guidelines. Where chromosomal microarray (CMA) has failed to replace standard cytogenetic testing of cancer samples, I believe OGM has the potential to revolutionize cytogenetic analysis in Africa and the rest of the world.”
“We believe that the ability of Saphyr to perform a comprehensive and automated analysis of all structural variant types makes access to advanced analysis of structural variation for genetic diseases and cancer more straightforward than ever before,” commented Erik Holmlin, PhD, CEO of Bionano Genomics. “Today is World Health Day 2021, focused on eliminating health inequalities and building a fairer, healthier world. As Saphyr adoption expands around the world, we are proud to be seeing areas like Africa embrace OGM. We believe that the assays Indalo Bio will develop on Saphyr can help democratize access to technology and ultimately help to improve the lives of patients all over the world.”
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 research use only 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. Bionano provides 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.
Forward-Looking Statements
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: plans to develop assays using Saphyr to analyze cancer genomes of patients with hematological malignancies and solid tumors; Indalo Bio’s development plans in Africa; the potential for OGM with Saphyr to revolutionize cytogenetic analysis; our beliefs regarding the potential benefits of Bionano’s Saphyr technology in improving patients’ lives, including on a global scale; and the execution of Bionano’s strategy. 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: Indalo Bio’s ability to successfully develop assays on the Saphyr system and/or make its technology widely available in Africa; 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, 2020 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.
CONTACTS
Company Contact:
Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7610
eholmlin@bionanogenomics.com
Investor Relations and
Media Contact:
Amy Conrad
Juniper Point
+1 (858) 366-3243
amy@juniper-point.com
FAQ
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