Bionano Strategy Day Highlighted the Company’s Strategic Initiatives and Growth Plans as well as OGM’s Competitive Value for Cell Bioprocessing, and Cancer and Genetic Disease Research
Bionano Genomics, Inc. (BNGO) held its inaugural Strategy Day on February 2, 2023, at the Nasdaq MarketSite in New York City, featuring key executives discussing growth strategies, financial goals, and product development. The event included panels with experts in optical genome mapping (OGM), focusing on its applications in cancer and genetic disease research. Bionano aims to enhance cytogenetic analysis through OGM, targeting segments like cell bioprocessing and cancer research. The company is working on product launches and strategies to increase OGM adoption, with a focus on regulatory approvals and reimbursement for OGM-based tests.
- Bionano outlined a clear strategy to transform cytogenetic analysis through OGM.
- Plans to target large segments of the genomics market, including cancer and genetic disease research.
- Commitment to product development, including the anticipated launches of Ionic® and Saphyr® systems.
- None.
- Bionano’s chief executive officer, chief financial officer, chief medical officer, chief operating officer and vice president of clinical and scientific affairs delivered an in-depth review of the company’s strategy, growth drivers, and financial objectives, as well as key initiatives related to clinical trials and new product advancements
- Dan Brennan, Managing Director, Research, Healthcare, Cowen & Co. moderated a series of panel discussions with key opinion leaders (KOLs) and management including:
- A panel covering clinical research applications of optical genome mapping (OGM) with Drs. Adam Smith, University Health Network, University of Toronto, Gordana Raca, Children’s Hospital Los Angeles, and Ravindra Kolhe, Georgia Cancer Center, Medical College of Georgia
- A panel covering translational research applications of OGM with Drs. Ben Finlay, Sanford Burnham Prebys Medical Discovery Institute, Catherine Brownstein, Boston Children’s Hospital, and Rashmi Kanagal-Shamanna, University of Texas MD Anderson Cancer Center
- A fireside chat with Erik Holmlin, Bionano’s president and chief executive officer and a Q&A panel with Bionano’s management team
- On-demand webcast from Strategy Day and supporting materials are available on the company’s Investor Relations site
SAN DIEGO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (BNGO) today announced details of topics covered at the company’s first-ever Strategy Day, which was held February 2nd, 2023, at the Nasdaq MarketSite in New York City. Erik Holmlin, PhD, president and chief executive officer, Chris Stewart, chief financial officer, Mark Oldakowski, chief operating officer, Alka Chaubey, MD, FACMG, chief medical officer, and Alex Hastie, PhD, vice president of clinical and scientific affairs, delivered an in-depth review of the company’s strategy, growth drivers, and financial objectives, as well as key initiatives related to clinical trials and new product advancements, followed by a live Q&A session. Key opinion leaders in translational and clinical research areas including cancer, genetic disease and cell bioprocessing from institutions including University of Texas MD Anderson Cancer Center, Boston Children’s Hospital and University Health Network, University of Toronto, Sanford Burnham Prebys Medical Discovery Institute, Children’s Hospital Los Angeles and Georgia Cancer Center, Medical College of Georgia participated in panel discussions moderated by Dan Brennan, managing director at Cowen & Co, who also took part in a fireside chat with Dr. Holmlin.
Bionano outlined the aim to transform cytogenetic analysis for cancer and genetic disease research through its digital workflow, which can provide increased resolution and success rates compared to traditional cytogenetic methods.
- Bionano is targeting three large segments of the genomics market: cell bioprocessing, cancer research and genetic disease research: Presentations covered the company’s plans to target for existing sample volumes in these key areas to be analyzed by optical genome mapping (OGM) as an alternative to traditional cytogenetic methods and as well a complement to next-generation sequencing (NGS).
- Bionano’s business strategy includes a focus on key catalysts that will drive product development, regulatory approval and reimbursement for OGM-based tests through coding and coverage: Leadership team members described strategies to promote increased OGM adoption in target markets through product improvements, including the anticipated launches of the Ionic® and high throughput Saphyr® systems, the expansion of sample prep menus, and improved analysis and reporting software. Presentations also addressed plans to seek regulatory approval for certain of the company’s products, as well as reimbursement for OGM-based laboratory developed tests.
- OGM can offer clinical and translational researchers genome analysis with high resolution and sensitivity, a simple and easy to implement workflow, and fast turnaround times: Researchers at the event described how OGM can provide laboratories with a simpler workflow, improved turnaround times and more cost-efficient processing of specimens in a more scalable approach than standard workflows. Panelists also noted OGM’s low operationalization risk, minimal training barriers, and quick positive impact on their lab.
Erik Holmlin, PhD, president and chief executive officer of Bionano, commented, “Bionano was excited to host our first-ever Strategy Day, where we shared our company’s financial growth and product development plans, as well as our vision for how we believe optical genome mapping will transform genome analysis. We were pleased with the participation from researchers and clinicians who see the benefits of OGM in their work. We hope anyone who wants to learn more about Bionano and our purpose to elevate the health and wellness of all people will view the webcast from the event for more information.”
An on-demand webcast of the event is available here with free registration. A copy of the Strategy Day presentation can be viewed on the Investor Relations page on the company’s website at https://ir.bionanogenomics.com/.
About Bionano Genomics
Bionano Genomics is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company’s mission is to transform the way the world sees the genome through OGM solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, the Company also offers an industry-leading, platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. For more information, visit www.bionanogenomics.com, www.bionanolaboratories.com or www.biodiscovery.com.
Bionano’s products are for research use only. Not for use in diagnostic procedures.
Forward-Looking Statements of Bionano Genomics
This press release contains forward-looking statements contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “can,” “plan," “anticipate,” “believe,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances and the negatives thereof) 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: (1) the impact and utility of optical genome mapping (OGM) in cancer and genetic disease research, and expected improvements to OGM over time; (2) the impact and utility of OGM for bioprocessing, including gene editing and genome integrity analysis; (3) the ability and utility of applying OGM data as a complement to sequencing data; (4) the ability and utility of OGM to be complementary to, or used in lieu of, traditional cytogenomics methods for analysis of structural variations; (5) anticipated goals and milestones for OGM and Bionano; (6) our ability to stay in front of competitors' improvements in technologies; (7) the anticipated benefits and ultimate success of our collaborations; (8) our growth prospects and future financial and operating performance and results; (9) our potential market opportunity and estimates of its size; (10) our future products and features; (11) our anticipated growth strategies and anticipated trends in our business; and (12) other statements that are not historical facts.
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: (1) the impact of geopolitical and macroeconomic developments, such as the ongoing Ukraine-Russia conflict, related sanctions and the COVID-19 pandemic, on our business and the global economy; (2) challenges inherent in developing, manufacturing and commercializing products; (3) our ability to further deploy new products and applications and expand the markets for our technology platforms; (4) third parties’ abilities to manufacture our instruments and consumables; (5) our expectations and beliefs regarding future growth of the business and the markets in which we operate; (6) the completion and success of our clinical studies; (7) the success of products competitive with our own; (8) changes in our strategic and commercial plans; (9) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions; (10) study results that differ from the study results referred to in this press release; and (11) our ability to obtain sufficient financing to fund our strategic plans and commercialization efforts. We are under no duty to update any of these forward-looking statements after the date they are made to conform these statements to actual results or revised expectations, except as required by law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date the statements are made. Moreover, except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements contained in this press release.
CONTACTS
Company Contact:
Erik Holmlin, CEO
Bionano Genomics, Inc.
+1 (858) 888-7610
eholmlin@bionano.com
Investor Relations:
Amy Conrad
Juniper Point
+1 (858) 366-3243
amy@juniper-point.com
FAQ
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