NanoString Technologies to Accelerate Commercialization of Expression Profiling Products

NanoString Technologies (Seattle, WA, USA) will receive US$30 million equity financing, which will allow the company to accelerate commercialization of the nCounter analysis system for diagnostics and research.

The financing was lead by Clarus Ventures (Cambridge, MA, USA), a global life-sciences venture capital firm and joined by existing investors OVP Venture Partners (Seattle, WA, USA) and Draper Fisher Jurvetson (DFJ; Menlo Park, CA, USA).

The fully automated nCounter analysis system uses digital technology that enables direct multiplexed measurement of gene expression. It is sensitive and precise, and includes detection of fractional fold change differences. The technology uses molecular barcodes and single molecule imaging to detect and count hundreds of transcripts in a single reaction.

"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.

NanoString Technologies is a life sciences tool company that has developed technology for creating molecular barcodes for tagging individual molecules in a biologic sample.

Related Links:
NanoString Technologies
Clarus Ventures
OVP Venture Partners
Draper Fisher Jurvetson