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NanoString Raises $2.5M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – NanoString Technologies has raised $2.5 million of a targeted $14 million round.

In an e-mail, Brad Gray, CEO of the Seattle-based life science firm, said that the funding comes from its current major investors and will be used to grow the company. He declined further comment.

In January, Gray told GenomeWeb Daily News that NanoString is looking to build its diagnostics business, with an emphasis on the molecular diagnostics space.

According to a document filed with the US Securities and Exchange Commission filed on June 29, the securities in the current offering are in the form of debt; options, warrants, or other rights to acquire another security; security to be acquire upon exercise of options, warrants, or other rights to acquire security.

In December, NanoString announced it had acquired the worldwide rights to technology from Bioclassifier, a partnership of four breast cancer experts from four research institutions, to develop in vitro diagnostic and research products for breast cancer intrinsic subtyping.

Two years ago, the firm raised $30 million in a Series C round.

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