Company: Bionano Genomics, Inc.
Symbol: BNGO
Description: They are a life sciences instrumentation company in the genome analysis space.
Trade Date: TBD
Shares: 3.35 million
Price Range: $8.00-$10.00
Underwriter(s): Roth Capital
Co-Manager(s): Maxim Group
Terms Added: 7-17-18
Business: They are a life sciences instrumentation company in the genome analysis space. They develop and market the Saphyr system, 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 the study of changes in chromosomes, which is known as cytogenetics. Their Saphyr system comprises an instrument, chip consumables, reagents and a suite of data analysis tools.
Insider Buying: Certain existing investors have indicated an interest in purchasing an aggregate of up to $6.35 million of shares of their common stock in this offering at the initial public offering price.
Financials: Their total revenues were $6.79 million and $9.51 million and their net loss was $18.85 million and $23.37 million in 2016 and 2017, respectively. In the first half of 2018, their total revenue increased 31.7 % to $5.16 million, and their net loss decreased 42.1% to $7.16 million, compared to the same period in the previous year.
Licensing Agreement :In January 2004, they entered into a license agreement, or the License Agreement, with Princeton University, or Princeton. Pursuant to the License Agreement, they received a worldwide, exclusive right and license to, among other things, manufacture and market products or services utilizing patents and inventions related to our sample preparation, DNA imaging and genomic data analysis platform and other key technology.
Collaboration: They have entered into a collaboration agreement, or the Berry Agreement, with Berry Genomics Co., Ltd, or Berry. Under the terms of the Berry Agreement, Berry agreed to develop, market and commercialize a Berry-branded in-vitro diagnostic, or IVD, system (which is comprised of both kits and instruments) in the People’s Republic of China, or the PRC, in certain specified fields, as well as for clinical use by its partners.
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