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NanoString Raises $30M in Private Financing

NEW YORK (GenomeWeb News) – NanoString Technologies has closed a series C financing round, raising $30 million from venture capital investors.

The Seattle-based firm said the financing was completed through two tranches, and the funds will be used to accelerate commercialization of its nCounter Analysis System for research and diagnostic applications. The system is a digital gene-expression tool that can multiplex hundreds of genes per sample.

The most recent round of financing was led by Clarus Ventures and included existing investors OVP Venture Partners and Draper Fisher Jurvetson. In connection with the investment, Clarus Ventures Co-founder and Managing Director Nicholas Galakatos will join NanoString's board of directors.

"We believe that NanoString Technologies has the best-in-class platform for expression profiling," Galakatos said in a statement. "Their uniquely user-friendly technology that does not require sample purification or use of PCR constitutes a breakthrough in the field."

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