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Corporation
HEALTHCARE | Drug Discovery
biodiscovery.com

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Investments

1

Portfolio Exits

1

Partners & Customers

10

About BioDiscovery

BioDiscovery is engaged in the development of microarray bioinformatics software and services.On October 12th, 2021, BioDiscovery was acquired by BioNano Genomic at a valuation of $100M.

BioDiscovery Headquarter Location

715 N Douglas St

El Segundo, California, 90245,

United States

(310) 414-8100

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Expert Collections containing BioDiscovery

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find BioDiscovery in 1 Expert Collection, including Omics.

O

Omics

1,265 items

Companies involved in the capture, sequencing, and/or analysis of genomic, transcriptomic, proteomic, and/or metabolomic data

BioDiscovery Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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BioDiscovery Rank

Latest BioDiscovery News

Bionano Genomics Keeps Focus on Clinical Applications for Optical Genome Mapping

May 6, 2022

Premium Save for later BALTIMORE – Reporting encouraging first quarter financial results this week, genomic analysis company Bionano Genomics outlined five pillars of business strategies to continue driving the firm's optical genome mapping (OGM) technology into the clinical realm. They include rolling out clinical studies, clearing the path for reimbursement, launching a new platform aimed at FDA approval, and enhancing software solutions, with the ultimate goal of establishing OGM as part of the standard of care for clinical diagnostics. In a conference call to discuss the company's Q1 earnings, Bionano President and CEO Erik Holmlin said that the company's first strategic pillar is to expand OMG's commercial traction and validation for Saphyr, the company's current platform. To achieve that, Holmlin said Bionano is targeting roughly 2,500 labs, including academic medical centers and regional reference labs in cytogenetics. Specifically, Holmlin said the company recently launched the Rare Undiagnosed Genetic Disease (RUGD) initiative at this year's American College of Medical Genetics and Genomics (ACMG) annual conference, which focuses on demonstrating OGM's utility in solving these types of diseases. In addition, he said the company plans to apply the technology to cancer, with the initial focus on blood disorders, leukemias, and lymphomas. Another important component of validation is Bionano users developing and validating their own laboratory-developed tests, or LDTs, Holmlin said. The long-term goal is to obtain endorsements from health and medical organizations, such as the American Medical Association, the Centers for Medicare and Medicaid Services, the World Health Organization, for clinical use of the technology, he said. Bionano's second strategic pillar is to "delight our customers with robust products that are suitable for routine use at scale," he said. In addition to building a strong field support team, Bionano has a number of planned product updates, which include updates to the company's DNA isolation and labeling chemistries as well as integrating OGM with the company's Nx Clinical software. Holmlin said the third pillar focuses on clearing the path for reimbursement of OGM-based tests. The company is currently "building a critical mass of OGM data" through clinical studies, which are designed to evaluate the platform's utility in genetic diseases, hematologic malignancies, cancer, and solid tumors. By comparing OGM-based tests for these diseases with the current standard of care, the studies, which are underway or about to be rolled out, aim to generate clinical evidence to  obtain third-party reimbursement by insurance companies and other agencies paying for healthcare. Holmlin highlighted the first readout from Bionano's clinical study in postnatal genetic diseases, which he said reported "strong data" and is anticipated to conclude this year. Perhaps most important is the fourth pillar of the company's business plan, working on major new products, which Bionano anticipates releasing over the course of this and next year. The first of these products includes version 7.0 of the Nx Clinical software , which the company obtained through the acquisition of genomic software firm BioDiscovery last year. The new software version is designed to fully integrate structural variation, visualization, and data interpretation and reporting capabilities for next-generation sequencing and microarray data. "We believe that adding these capabilities will also enhance the value of OGM and can be a significant driver of future adoption of [the technology]," Holmlin said. The company is also on track to unveil the next version of its OGM instrument in the near future, Holmlin said. Bionano completed a prototype of the new instrument last year and is focused on bringing a pre-commercial version of the platform online this year before commercially launching it in 2023. In addition to higher throughput, Holmlin said the new system will be capable of having one to six instruments working in unison. It will also be part of an integrated workflow that includes automation of sample preparation and integration of the Nx Clinical software. After the new instrument's commercial launch next year, Bionano plans to take it through the process of FDA clearance, Holmlin added. "Having FDA approval for the next instrument can advance our total available market and accelerate global adoption," he said. Lastly, as Bionano's fifth strategic pillar, Holmlin said the company intends to promote its software. Currently, it offers Nx Clinical and Nexus Copy Number, two software products from BioDiscovery, which are estimated to have at least 10,000 installations worldwide, he said. The company also launched version 6.2 of the Nx Clinical software this quarter, which integrates genomic scar analysis for homologous recombination deficiency. This feature provides comprehensive, consistent, and automated analysis of biomarkers from next-generation sequencing and microarray data that can help clinical researchers predict therapeutic responses across multiple tumor types, Holmlin noted. Moreover, by increasing the number of Nx Clinical and Nexus Copy Number subscribers, Holmlin said the company aims to build relationships with software customers, fostering OGM's adoption when they are ready to incorporate the technology into their labs. Ultimately, Bionano is hopeful that OGM will eventually be incorporated as a standard-of-care testing method for cytogenetic diseases, Holmlin said. While genomic sequencing is increasingly recommended as a first-line analysis for sequence variants, he would like OGM to become recommended as a first-line analysis for structural variants. He added that when the two technologies are used in combination for diagnostics, they would become a "game-changer." "There's a lot of work to be done between now and then … but that's the vision that we're driving toward," Holmlin said.

BioDiscovery Investments

1 Investments

BioDiscovery has made 1 investments. Their latest investment was in CropDesign as part of their Unattributed VC on August 8, 2004.

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BioDiscovery Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/9/2004

Unattributed VC

CropDesign

$20.7M

Yes

1

Date

8/9/2004

Round

Unattributed VC

Company

CropDesign

Amount

$20.7M

New?

Yes

Co-Investors

Sources

1

BioDiscovery Portfolio Exits

1 Portfolio Exit

BioDiscovery has 1 portfolio exit. Their latest portfolio exit was CropDesign on May 26, 2006.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/26/2006

Acquired

1

Date

5/26/2006

Exit

Acquired

Companies

Valuation

Acquirer

Sources

1

BioDiscovery Partners & Customers

10 Partners and customers

BioDiscovery has 10 strategic partners and customers. BioDiscovery recently partnered with Thermo Fisher Scientific on March 3, 2018.

Date

Type

Business Partner

Country

News Snippet

Sources

3/8/2018

Partner

United States

Written by BioDiscovery | Mar 20, 2018 2:32:00 PM. BioDiscovery and Thermo Fisher Scientific Sign OEM Partnership.

Recently , BioDiscovery signed an OEM partnership deal with Thermo Fisher Scientific for analysis software for the OncoScan .

2

5/4/2017

Client

United States

Written by BioDiscovery | May 4, 2017 8:55:51 PM. New Case Study on Ambry Genetics' Implementation of NxClinical Software.

After extensive review of alternative solutions , Ambry Genetics chose NxClinical to be integrated into their new state-of-the-art Super Lab and NxClinical provided key benefits such as .

3

3/29/2017

Partner

Netherlands

GENALICE and BioDiscovery Partner to Empower Rapid NGS Data Interpretation By: BioDiscovery | March 29, 2017 in NxClinical , NGS , Sequence Variants , Microarray data.

Harderwijk , the Netherlands and El Segundo , CA , USA -- March 29 , 2017 -- GENALICE and BioDiscovery announce a co-marketing partnership to offer their products together as a turn-key end-to-end solution for the use of next-generation sequencing data to interpret genomes .

1

7/25/2016

Partner

United States

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10

6/7/2016

Client

United States

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10

Date

3/8/2018

5/4/2017

3/29/2017

7/25/2016

6/7/2016

Type

Partner

Client

Partner

Partner

Client

Business Partner

Country

United States

United States

Netherlands

United States

United States

News Snippet

Written by BioDiscovery | Mar 20, 2018 2:32:00 PM. BioDiscovery and Thermo Fisher Scientific Sign OEM Partnership.

Recently , BioDiscovery signed an OEM partnership deal with Thermo Fisher Scientific for analysis software for the OncoScan .

Written by BioDiscovery | May 4, 2017 8:55:51 PM. New Case Study on Ambry Genetics' Implementation of NxClinical Software.

After extensive review of alternative solutions , Ambry Genetics chose NxClinical to be integrated into their new state-of-the-art Super Lab and NxClinical provided key benefits such as .

GENALICE and BioDiscovery Partner to Empower Rapid NGS Data Interpretation By: BioDiscovery | March 29, 2017 in NxClinical , NGS , Sequence Variants , Microarray data.

Harderwijk , the Netherlands and El Segundo , CA , USA -- March 29 , 2017 -- GENALICE and BioDiscovery announce a co-marketing partnership to offer their products together as a turn-key end-to-end solution for the use of next-generation sequencing data to interpret genomes .

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Sources

2

3

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10

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