Bionano Rockets on New Contract

Bionano Genomics, Inc. (NASDAQ: BNGO) shares were trading higher early Thursday, after the company announced that Novogene has adopted the Saphyr system for genome imaging and incorporated it into their expansive repertoire of genome analysis technology services.

The San Diego-based company said Novogene will offer Saphyr services globally throughout the research and clinical communities for human, plant and animal research, including, but not limited to, basic human research, translational research for variant discovery and clinical research in cancer and genetic diseases.

In addition, data generated with the Saphyr system can be integrated with the extensive array of Novogene’s offerings, including NGS, gene expression analysis, and single-cell sequencing, enabling a multi-omics approach to reveal more answers than any one technology can on its own.

The company told shareholders, "We believe the addition of Bionano technology could enable Novogene's global customers to achieve comprehensive analysis of platinum genome assembly, and genome structure, including highly accurate detection of genomic structural variations that remain unresolved by current next-generation sequencing technology and other methods."

Bionano is a life sciences instrumentation company in the genome analysis space.

Bionano develops and markets Saphyr, a 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 digital cytogenetics, which is designed to be a more systematic, streamlined and industrialized form of traditional cytogenetics.

Shares vaulted 55 cents, or 61.3%, to $1.45