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

Leti IEDM 2016 Paper Clarifies Correlation between Endurance, Window Margin and Retention in RRAM for First Time: Paper Presented at IEDM 2016 Offers Ways to Reconcile High-cycling Requirements and Instability at High Temperatures in Resistive RAM December 6th, 2016

Tokyo Institute of Technology research: 3D solutions to energy savings in silicon power transistors December 6th, 2016

Physicists decipher electronic properties of materials in work that may change transistors December 6th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

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

Harris & Harris Group Issues Letter to Shareholders and Information for Shareholder Call on Tuesday, November 15, 2016 November 14th, 2016

Harris & Harris Group Issues Business Update and Reports Financial Statements as of September 30, 2016 November 9th, 2016

Forge Nano raises $20 million in Series A Funding: Nano coating technology innovator Forge Nano will use funding to expand manufacturing capacity and grow Lithium-Ion battery opportunities November 3rd, 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

Investments/IPO's/Splits

Harris & Harris Group Issues Letter to Shareholders and Information for Shareholder Call on Tuesday, November 15, 2016 November 14th, 2016

Harris & Harris Group Issues Business Update and Reports Financial Statements as of September 30, 2016 November 9th, 2016

Forge Nano raises $20 million in Series A Funding: Nano coating technology innovator Forge Nano will use funding to expand manufacturing capacity and grow Lithium-Ion battery opportunities November 3rd, 2016

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

Nanomedicine

Fast, efficient sperm tails inspire nanobiotechnology December 5th, 2016

Journal Nanotechnology Progress International (JONPI) Volume 6, issue 2 coming out soon! December 5th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Nanobiotix Provides Update on Global Development of Lead Product NBTXR3: Seven clinical trials across the world: More than 2/3 of STS patients recruited in the “act.in.sarc” Phase II/III trial: Phase I/II prostate cancer trial now recruiting in the U.S. November 28th, 2016

Announcements

Leti IEDM 2016 Paper Clarifies Correlation between Endurance, Window Margin and Retention in RRAM for First Time: Paper Presented at IEDM 2016 Offers Ways to Reconcile High-cycling Requirements and Instability at High Temperatures in Resistive RAM December 6th, 2016

Tokyo Institute of Technology research: 3D solutions to energy savings in silicon power transistors December 6th, 2016

Physicists decipher electronic properties of materials in work that may change transistors December 6th, 2016

Infrared instrumentation leader secures exclusive use of Vantablack coating December 5th, 2016

Tools

Deep insights from surface reactions: Researchers use Stampede supercomputer to study new chemical sensing methods, desalination and bacterial energy production December 2nd, 2016

Controlled electron pulses November 30th, 2016

Scientists shrink electron gun to matchbox size: Terahertz technology has the potential to enable new applications November 25th, 2016

News from Quorum: The Agricultural Research Service of the USDA uses a Quorum Cryo-SEM preparation system for the study of mites, ticks and other soft bodied organisms November 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