Bionano Genomics Appoints Jason Priar, Former GeneDx, Sema4 and PerkinElmer Genomics Sales Leader, as its Chief Commercial Officer

Rhea-AI Summary

Bionano Genomics (BNGO) has appointed Jason Priar as Chief Commercial Officer. Priar is a seasoned leader known for scaling businesses in genetic diseases and cancer testing, previously leading GeneDx to significant revenue growth. His role will focus on enhancing sales and market access for the company's Saphyr® system and Lineagen’s diagnostic services. CEO Erik Holmlin expressed confidence in Priar's ability to drive global adoption of Bionano's optical genome mapping technology, emphasizing his industry expertise and established relationships with payers.

Positive

• Jason Priar's appointment is expected to accelerate revenue growth and market access.
• Priar brings extensive experience in scaling businesses, particularly in genetic testing.
• His prior success includes increasing GeneDx's revenue from $8M to over $225M.

Negative

• Potential continuity and experience gaps during the transition period.

SAN DIEGO, June 07, 2021 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) announced today that Jason Priar has joined the company as its Chief Commercial Officer. Jason is a seasoned sales leader with experience scaling businesses from early stage to hundreds of millions in revenue. He has a deep understanding of how to penetrate clinical and research markets including genetic diseases and cancer. For Bionano, he will lead the commercial teams across the platform and services businesses to drive sales and market access with third party payors.

“We are thrilled to welcome Jason to Bionano. We believe he has the experience in scaling revenues and obtaining market access from third party payers that we need to accelerate global adoption of optical genome mapping (OGM) with our Saphyr® system and drive Lineagen’s business of providing diagnostic services in pediatric neurodevelopmental disorders,” commented Erik Holmlin, PhD, CEO of Bionano Genomics. “Jason’s intimate familiarity with the needs of traditional cytogenomics laboratories performing genome analysis in cancer and genetic diseases, combined with his understanding of needs of the physicians and pharmaceutical partners who apply the data, is among the best I have encountered in the industry. I believe adding Jason to an already stellar team can have a profound impact on Bionano.”

Jason’s experience includes sales in genetic diseases and cancer testing as well as pharmaceutical sales. After time with Forest Laboratories as a pharmaceutical detailer, he was selected for sales leadership positions at GeneDx, Sema4 and PerkinElmer Genomics with responsibilities covering sales, marketing, customer support and managed care across North America, Europe, China and India. Under his leadership, GeneDx’s revenue grew from $8M to over $225M across a menu of genetic testing products. He has worked closely with major health insurance carriers to obtain coverage and to maximize reimbursement for testing and he launched Sema4’s commercial business. He was recruited to PerkinElmer Genomics to lead full global commercial scale up of their business and presided over growing revenues to significant levels in a short period of time. His experience in building and managing global commercial organizations and his proven track record of stellar results allow him to lead Bionano’s efforts to expand and accelerate growth of its business.

“I am excited to work with this incredible team of talented people and I am grateful to Erik and the Bionano board for this opportunity,” commented Jason Priar, CCO of Bionano Genomics. “I have seen first-hand over the past two decades how important the timely and accurate identification of structural variations can be in people’s lives, including for children, but too often I have seen the existing tools used in cytogenomics fail to make an impact. OGM with Saphyr is something I believe has the potential to disrupt healthcare by making structural variation analysis just as accessible and routine as next-generation sequencing.”

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: the anticipated contributions to and improvements in our results of operations and revenue attributable to Mr. Priar’s appointment as our Chief Commercial Officer; the potential for OGM with Saphyr to disrupt healthcare; our beliefs regarding the potential benefits of Bionano’s Saphyr technology; 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: the impact of the COVID-19 pandemic on our business and the global economy; changes in 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; our ability to obtain reimbursement from third party payors; 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

Who is the new Chief Commercial Officer of Bionano Genomics?

Jason Priar has been appointed as the Chief Commercial Officer of Bionano Genomics.

What impact is Jason Priar expected to have on Bionano Genomics?

Priar is expected to drive revenue growth and enhance market access for the Saphyr® system.

What experience does Jason Priar bring to Bionano Genomics?

Priar has extensive experience in scaling revenue in genetic diseases and cancer testing, having led GeneDx's growth significantly.

When was the announcement of Jason Priar's appointment made?

The announcement was made on June 7, 2021.

What is the focus of Bionano Genomics under Jason Priar's leadership?

The focus is on accelerating the global adoption of optical genome mapping and enhancing diagnostic services.