NanoString Technologies Receives $15M in Debt Financing

NanoString Technologies, Inc., a Seattle, WA-based provider of life sciences tools for translational research and developer of molecular diagnostics, has received $15m in debt financing.

The financing, which was awarded from both Oxford Finance and Silicon Valley Bank, included a $13m senior secured term loan and a $2m revolving line of credit.

The company intends to use the proceeds for its ongoing growth and product distribution, as well as for the expected launch of its first in vitro diagnostic product, a breast cancer assay based on the PAM50 gene expression signature.

Led by President and CEO Brad Gray, NanoString Technologies has developed a technology platform (the nCounterĀ® Analysis System), which enables a wide variety of basic research and translational medicine applications, including biomarker discovery and validation. It profiles hundreds of gene transcripts, copy number variations, or miRNAs simultaneously.

FinSMEs

06/04/2012

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