Bionano Genomics, a San Diego, CA-based provider of genome analysis solutions, acquired Purigen Biosystems, a Pleasanton, CA-based company that develops and commercializes automated nucleic acid extraction and purification solutions using proprietary isotachophoresis technology.
The transaction consideration will be up to $64m, including $32m cash paid at closing subject to adjustment for, among other things, cash, unpaid indebtedness, unpaid transaction expenses and net working capital relative to a specified target. The remainder of the consideration is contingent on the achievement of certain milestones. The deal is expected to close on or before December 8, 2022.
With the acquisition, Bionano adds:
- isotachophoresis (ITP) to its tools for potentially simplifying molecular weight (UHMW) DNA isolation and purification for optical genome mapping (OGM) with more consistency at scale, and
- the Ionic® Purification System, a commercially available platform for isolation of DNA and RNA from complex biological samples including those with low cell counts or otherwise challenging types such as formalin-fixed paraffin embedded (FFPE) tumor tissue,
to its portfolio of products.
Purigen Biosystems focuses on redefining nucleic acid sample preparation with an innovative platform based on the isotachophoresis technology. Its automated benchtop instrument and accompanying microfluidic chip purify nucleic acid samples from a wide variety of sources, including minute or otherwise challenging cancer samples.
Led by CEO Erik Holmlin, 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 also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. Through its BioDiscovery business, Bionano also offers a 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.
