Nanotechnology Now

Our NanoNews Digest Sponsors





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

Nanofiltration Membrane Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

Nanozirconia Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

Self-Healing Nano Anti-rust Coatings Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

Nano Spray Instrument Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

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

Harris & Harris Group Portfolio Company, Bridgelux, Enters into Agreement to be Acquired by an Investment Group July 22nd, 2015

Harris & Harris Group Portfolio Company, OpGen, Gains $6 Million Investment From Merck GHI in Addition to New Acquisition July 16th, 2015

Tel Aviv/Tsinghua University project uses crowd computing to improve water filtration: The research, a product of the new TAU-Tsinghua XIN Center, was conducted by 150,000 volunteers at IBM's World Community Grid July 6th, 2015

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events July 28th, 2015

Harris & Harris Group Portfolio Company, Bridgelux, Enters into Agreement to be Acquired by an Investment Group July 22nd, 2015

Harris & Harris Group Portfolio Company, OpGen, Gains $6 Million Investment From Merck GHI in Addition to New Acquisition July 16th, 2015

Harris & Harris Group Portfolio Company, AgBiome, Announces Partnership to Accelerate the Discovery of Next Generation Insect-Resistant Crops July 1st, 2015

Nanomedicine

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

European Technology Platform for Nanomedicine and ENATRANS European Consortium Launch the 2nd edition of the Nanomedicine Award: The Award to be presented at BIO-Europe conference in Munich, November 2015 July 30th, 2015

Take a trip through the brain July 30th, 2015

Sol-gel capacitor dielectric offers record-high energy storage July 30th, 2015

Announcements

Nano Spray Instrument Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

Nanocellulose Market 2015 - Global Industry Survey, Analysis, Size, Share, Outlook and Forecast to 2020 July 31st, 2015

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

Theoretical Physicists at Freie Universität Berlin Develop New Insights into Interface between Classical and Quantum Worlds July 31st, 2015

Tools

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

Take a trip through the brain July 30th, 2015

Publication on Atomic Force Microscopy based nanoscale IR Spectroscopy (AFM-IR) persists as a 2015 top downloaded paper July 29th, 2015

Nanometrics Announces Upcoming Investor Events July 28th, 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