Skip to main content
Premium Trial:

Request an Annual Quote

NanoString Raises $15.3M in Private Financing Round

NEW YORK (GenomeWeb News) – NanoString Technologies today said that it has raised $15.3 million in a Series E Preferred Stock round of financing.

The Seattle-based firm said the funds would be used to support expansion of its existing life sciences business and its first commercial launch in molecular diagnostics. NanoString, which offers the nCounter Analysis system for gene expression, copy number variation, and microRNA analysis, also has developed the Pam50 gene expression assay. The firm said it is focused on the US regulatory process for the assay and its launch outside of the US.

The PAM50 assay, which provides a subtype classification based on an individual's breast tumor, recently received the CE Mark. The test also provides a prognostic score that indicates 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.

New investors in the round included Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group. Previous venture investors, including Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund, and BioMed Ventures, as well as former Genzyme Chairman and CEO Henri Termeer, also participated in the financing round.

NanoString raised $20 million a Series D financing round a little more than a year ago, and earlier this year inked a $13 million senior secured term loan and a $2 million revolving line of credit with Oxford Finance and Silicon Valley Bank.

The Scan

Genes Linked to White-Tailed Jackrabbits' Winter Coat Color Change

Climate change, the researchers noted in Science, may lead to camouflage mismatch and increase predation of white-tailed jackrabbits.

Adenine Base Editor Targets SCID Mutation in New Study

Researchers from the University of California, Los Angeles, report in Cell that adenine base editing was able to produce functional T lymphocytes in a model of severe combined immune deficiency.

Researchers Find Gene Affecting Alkaline Sensitivity in Plants

Researchers from the Chinese Academy of Science have found a locus affecting alkaline-salinity sensitivity, which could aid in efforts to improve crop productivity, as they report in Science.

International Team Proposes Checklist for Returning Genomic Research Results

Researchers in the European Journal of Human Genetics present a checklist to guide the return of genomic research results to study participants.