Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

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

Chitosan coated, chemotherapy packed nanoparticles may target cancer stem cells June 30th, 2015

BASF and Fraunhofer IPMS-CNT jointly develop electronic materials June 30th, 2015

Researchers from the UCA, key players in a pioneering study that may explain the origin of several digestive diseases June 30th, 2015

Oxford Instruments’ TritonXL Cryofree dilution refrigerator selected for the Oxford NQIT Quantum Technology Hub project June 30th, 2015

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

Chivalrous Knight Does Pro Bono June 27th, 2015

Exagan Raises €5.7 Million to Produce High-efficiency GaN-on-Silicon Power-switching Devices on 200mm Wafers: Leti-and-Soitec Spinout Focused on Becoming Leading European Source Of GaN Devices for Solar, Automotive, Telecoms and Infrastructure June 25th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist June 23rd, 2015

Nanowire LED Innovator Aledia Completes $31 Million Series B Financing June 18th, 2015

Investments/IPO's/Splits

Nanometrics to Participate in 7th Annual CEO Investor Summit 2015: Investor Event Held Concurrently With SEMICON West in San Francisco June 25th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist June 23rd, 2015

Nanowire LED Innovator Aledia Completes $31 Million Series B Financing June 18th, 2015

Pixelligent Closes $3.4 Million in Funding: Capital Will Be Used to Support Partner & Customer Product Introductions and Increase Manufacturing Capacity June 16th, 2015

Nanomedicine

Chitosan coated, chemotherapy packed nanoparticles may target cancer stem cells June 30th, 2015

Researchers from the UCA, key players in a pioneering study that may explain the origin of several digestive diseases June 30th, 2015

Efforts to Use Smart Nanocarriers to Cure Leukemia Yield Promising Results June 29th, 2015

Chivalrous Knight Does Pro Bono June 27th, 2015

Announcements

BASF and Fraunhofer IPMS-CNT jointly develop electronic materials June 30th, 2015

Graphene flexes its electronic muscles: Rice-led researchers calculate electrical properties of carbon cones, other shapes June 30th, 2015

Researchers from the UCA, key players in a pioneering study that may explain the origin of several digestive diseases June 30th, 2015

Oxford Instruments’ TritonXL Cryofree dilution refrigerator selected for the Oxford NQIT Quantum Technology Hub project June 30th, 2015

Tools

Oxford Instruments’ TritonXL Cryofree dilution refrigerator selected for the Oxford NQIT Quantum Technology Hub project June 30th, 2015

How Graphene–based Nanomaterials and Films Revolutionize Science Explained in July 9 Webinar Hosted by Park Systems June 29th, 2015

Keysight Technologies Introduces Ultrafast-Scanning 9500 Atomic Force Microscope: New Integrated Software, Hardware Delivers Unmatched Scan Rates June 29th, 2015

Rice University boots up powerful microscopes: New electron microscopes will capture images at subnanometer resolution June 29th, 2015

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