Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > NanoString Technologies Completes $15.3 Million Series E Financing

Abstract:
NanoString Technologies, Inc., a privately held provider of life science tools for translational research and developer of molecular diagnostic products, today announced the completion of a $15.3 million Series E Preferred Stock issuance. New investors in the transaction included Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group. All previous venture investors in NanoString participated in the financing, including Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund, BioMed Ventures, and Henri Termeer.

NanoString Technologies Completes $15.3 Million Series E Financing

Seattle, WA | Posted on December 3rd, 2012

The proceeds of the financing will be used to support the expansion of NanoString's existing life sciences business and its first commercial launch in molecular diagnostics. The company's life science business provides the nCounter® Analysis System and associated products for research applications such as gene expression, copy number variation and micro RNA analysis. The company's diagnostics business is focused on the U.S. regulatory process for, and the ex-U.S. launch of, the company's first molecular diagnostic product, a breast cancer assay based on the PAM50 gene expression signature. This test, which recently received the CE Mark, provides a subtype classification based on the fundamental biology of an individual's breast tumor (referred to as intrinsic subtyping), as well as a prognostic score that indicates the probability of cancer recurrence over 10 years in post-menopausal women with hormone receptor-positive, early stage breast cancer who have been treated with hormonal therapy. The PAM50 gene signature has not been cleared for marketing in the United States.

"We're pleased to welcome two new shareholders, and are grateful for the ongoing support from our existing shareholders," said Brad Gray, President and CEO of NanoString Technologies. "We plan to use these funds to benefit all shareholders by advancing the development and commercialization of our PAM50 breast cancer assay and continuing to invest in building our life sciences business."

####

About NanoString Technologies, Inc.
NanoString Technologies is a privately held provider of life science tools for translational research and developer of molecular diagnostic products. The company’s nCounter® Analysis System delivers highly multiplexed, direct profiling of individual molecules in a single reaction without amplification. The nCounter Analysis System offers a cost-effective way to easily profile the expression of hundreds of genes, miRNAs, or copy number variations, simultaneously with high sensitivity and precision. The company’s technology enables a wide variety of basic research and translational medicine applications, including biomarker discovery and validation. NanoString is also developing its technology for use in molecular diagnostics. The company’s first molecular diagnostic product is a breast cancer assay based on the PAM50 gene expression signature.

About Morgan Stanley Expansion Capital

Morgan Stanley Expansion Capital (“MS Expansion Capital”) invests in high-growth companies within the information technology and healthcare industries as well as other high growth sectors, such as digital media and consumer. MS Expansion Capital also sponsors and participates in growth buyouts and other structured transactions in its targeted industry segments. Since 1986, MS Expansion Capital and its predecessor funds have invested over $1.1 billion in over 160 companies.

About AllianceBernstein's Alternative Investment Management Group

AllianceBernstein's Alternative Investment Management Group manages investments in hedge funds, private equity, and venture capital. Since 1997, the team has been making direct venture capital investments in later stage technology, digital media, clean tech, and life science companies. The team's investments have included: Corus Pharma (acquired by Gilead), CrownPeak Technology, Globus Medical (NASDAQ: GMED), i2 (acquired by IBM), Link A Media Devices (acquired by SK Hynix), Mobile Messenger, SenoRx (acquired by C.R. Bard), Siimpel (acquired by Tessera), Vantage Media, Verimatrix, and XenoPort (NASDAQ: XNPT).

For more information, please click here

Contacts:
For NanoString Technologies
Nicole Litchfield
415-793-6468

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

A nanoscale wireless communication system via plasmonic antennas: Greater control affords 'in-plane' transmission of waves at or near visible light August 27th, 2016

Forces of nature: Interview with microscopy innovators Gerd Binnig and Christoph Gerber August 26th, 2016

A promising route to the scalable production of highly crystalline graphene films August 26th, 2016

Graphene under pressure August 26th, 2016

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Carbodeon Ltd Oy Closes EUR 1.5 million Funding Round From Straightforward Capital: Carbodeon will accelerate its nanodiamonds business and expand manufacturing capacity August 21st, 2016

Leading Advanced Materials Manufacturer Pixelligent Closes $10.4 Million in Funding: Capital Will Boost Capacity for North American Manufacturing, Drive Asian Expansion, and Continue Innovation in Solid State Lighting and OLED Display Applications August 16th, 2016

Harris & Harris Group to Host a Shareholder Update Call, Including a Presentation by One of Its Precision Health and Medicine Portfolio Companies, Muses Labs, Inc., on August 23, 2016 August 16th, 2016

NanoLabNL boosts quality of research facilities as Dutch Toekomstfonds invests firmly June 10th, 2016

Investments/IPO's/Splits

Industrial Nanotech, Inc. Provides Shareholder Update August 22nd, 2016

Carbodeon Ltd Oy Closes EUR 1.5 million Funding Round From Straightforward Capital: Carbodeon will accelerate its nanodiamonds business and expand manufacturing capacity August 21st, 2016

Leading Advanced Materials Manufacturer Pixelligent Closes $10.4 Million in Funding: Capital Will Boost Capacity for North American Manufacturing, Drive Asian Expansion, and Continue Innovation in Solid State Lighting and OLED Display Applications August 16th, 2016

Harris & Harris Group to Host a Shareholder Update Call, Including a Presentation by One of Its Precision Health and Medicine Portfolio Companies, Muses Labs, Inc., on August 23, 2016 August 16th, 2016

Nanomedicine

Nanofiber scaffolds demonstrate new features in the behavior of stem and cancer cells August 25th, 2016

Johns Hopkins scientists track metabolic pathways to find drug combination for pancreatic cancer August 25th, 2016

50 years after the release of the film 'Fantastic Voyage,' science upstages fiction: Science upstages fiction with nanorobotic agents designed to travel in the human body to treat cancer August 25th, 2016

Tunneling nanotubes between neurons enable the spread of Parkinson's disease via lysosomes August 24th, 2016

Announcements

A nanoscale wireless communication system via plasmonic antennas: Greater control affords 'in-plane' transmission of waves at or near visible light August 27th, 2016

Forces of nature: Interview with microscopy innovators Gerd Binnig and Christoph Gerber August 26th, 2016

A promising route to the scalable production of highly crystalline graphene films August 26th, 2016

Graphene under pressure August 26th, 2016

Tools

Nanofiber scaffolds demonstrate new features in the behavior of stem and cancer cells August 25th, 2016

50 years after the release of the film 'Fantastic Voyage,' science upstages fiction: Science upstages fiction with nanorobotic agents designed to travel in the human body to treat cancer August 25th, 2016

University of Puerto Rico and NASA back in the news – XEI reports August 23rd, 2016

Spider silk: Mother Nature's bio-superlens August 22nd, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic