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Posted in | Nanomedicine | Nanobusiness

Financing Allows NanoString to Accelerate Commercialization of nCounter Analysis System

Published on June 9, 2009 at 3:32 AM

NanoString Technologies, a life sciences tool company that is commercializing a novel and uniquely user-friendly technology for characterizing and quantifying expression profiles in complex biological samples, announced today that it has closed a $30 million Series C equity financing. This financing, structured in two tranches, will allow NanoString Technologies to accelerate the commercialization of the nCounter™ Analysis System in the research tools and diagnostics arenas.

The round was led by Clarus Ventures, a global life sciences venture capital firm, and was joined by existing investors OVP Venture Partners and Draper Fisher Jurvetson. In connection with the financing, Nicholas Galakatos, co-founder and Managing Director of Clarus Ventures, will join the NanoString Technologies’ Board of Directors.

“We believe that NanoString Technologies has the best-in-class platform for expression profiling. Their uniquely user-friendly technology that does not require sample purification or use of PCR constitutes a breakthrough in the field, as evidenced by the excitement of the scientific community towards their products. We are delighted to be part of the success of this emerging leader,” said Dr. Galakatos.

“Completion of this financing in this tough economic environment is an important validation of the differentiation of the NanoString technology platform, the success with key customers and the insight and determination of Clarus Ventures and our other investors. Our products have received tremendous interest from commercial and clinical researchers in a relatively short amount of time. The new funds will fuel our growth in manufacturing and product development and enhance our commercialization capabilities,” said Wayne Burns, CFO and Acting CEO of NanoString Technologies

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