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press release

Jan. 26, 2021, 8:01 a.m. EST

Bionano Significantly Reduces Analysis Cost and Time to Actionable Results with Update to its Cloud Compute

Addition of Microsoft Azure as a High-Performance Computing provider reduces compute cost for genetic disease analysis by more than 50%, compute time by 30%

SAN DIEGO, Jan 26, 2021 (GLOBE NEWSWIRE via COMTEX) -- SAN DIEGO, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. /zigman2/quotes/208673493/composite BNGO +2.09% announced the release of version 1.2 of its Compute On Demand (COD) cloud compute solution which significantly reduces the cost and time to analyze structural variants (SVs) in a human genome. This update is part of Bionano's continuous efforts to decrease time to results while reducing per sample costs to make Saphyr data available for every clinician and researcher that needs it. In particular, this update allows for analysis results to be returned in 9 hours, a 30% decrease, and complements the recent increases in Saphyr system throughput of up to 96 samples per week.

Bionano Saphyr users have the choice of several computing options, including the purchase of dedicated analysis servers, COD, or a combination of both, which allows for flexible management of peak sample processing. COD is an attractive solution for many clinical sites because it does not require up front capital equipment purchases or the need to maintain an on-premises compute server. For example, the results recently reported by the COVID-19 Host Genome SV Consortium were generated using COD.

The improvement of analysis speed and reduction of cost is enabled by the addition of Microsoft Azure's High-Performance Computing (HPC) in addition to Bionano's current use of Amazon Web Services. The rapid implementation of Azure as a HPC provider is possible through Bionano's continuing relationship with Rescale, which enables cloud compute instances to be rapidly scaled to different HPC providers.

Mark Oldakowski, Chief Operating Officer of Bionano Genomics, commented: "The recent Bionano Cytogenomic Symposium highlighted the speed, quality and relative simplicity with which Saphyr can provide actionable clinical results across a wide variety of disorders from constitutional disease to cancer. Working with strong collaborators like Rescale and Microsoft, Bionano is driving further improvements in sample-to-answer times and costs to address our customers' needs to run more samples and study more diseases. Our mission is to help improve clinical outcomes."

"Microsoft is committed to genomics by providing highly-optimized HPC solutions in our Microsoft Azure platform," said Nidhi Chappell, head of product, Specialized Azure Compute, Microsoft. "We understand the need for faster results for patients who are waiting for treatment and scientists trying to find answers to solve acute and chronic crises. We are happy to work with pioneers in the field like Bionano to accelerate the promise of personalized medicine."

Joris Poort, CEO of Rescale commented: "Rescale is pleased to support the incredible scientific breakthroughs Bionano Genomics is making in the very relevant world of personal health. As the leading provider of intelligent computing for digital R&D, Rescale is committed to ensuring Bionano Genomics has access to optimized high performance computing resources across multiple cloud service providers in the fastest time possible. Our team is rooting for their success combating cancers and diseases for the long-term benefit of us all."

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, and 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 potential improvements in sample-to-answer times and decreased sample costs resulting from version 1.2 of Bionano's COD solution; 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; 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; 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, 2019 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 Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
+1 (617) 430-7577
arr@lifesciadvisors.com

Media Contact:
Darren Opland, PhD
LifeSci Communications
+1 (617) 733-7668
darren@lifescicomms.com

COMTEX_379530852/2471/2021-01-26T08:00:44

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/zigman2/quotes/208673493/composite
US : U.S.: Nasdaq
$ 5.38
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Volume: 35.56M
April 20, 2021 4:00p
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Market Cap
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$57,843
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