Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

MEMS & Sensors Technology Showcase: Finalists Announced for MEMS Executive Congress US 2014 October 23rd, 2014

Nanoparticle technology triples the production of biogas October 23rd, 2014

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

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

7th Nanotechnology Festival, Exhibition Kicks Off Work in Iran October 7th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Nanomedicine

NYU Researchers Break Nano Barrier to Engineer the First Protein Microfiber October 23rd, 2014

Iranian Scientists Apply Nanotechnology to Produce Surgery Suture October 23rd, 2014

RF Heating of Magnetic Nanoparticles Improves the Thawing of Cryopreserved Biomaterials October 23rd, 2014

Sopping up proteins with thermosponges: Researchers develop novel nanoparticle platform that proves effective in delivering protein-based drugs October 22nd, 2014

Announcements

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

Tools

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

National Synchrotron Light Source II Achieves 'First Light' October 23rd, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

NIST offers electronics industry 2 ways to snoop on self-organizing molecules October 22nd, 2014

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







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE