NanoString Technologies, Inc., a Seattle, WA-based provider of life science tools for translational research and developer of molecular diagnostic products, has completed a $15.3m Series E funding.
Backers include new investors Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group and existing investors Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund, BioMed Ventures, and Henri Termeer.
The company intends to use the capital to expand its existing life sciences business and its first commercial launch in molecular diagnostics.
Led by Brad Gray, President and CEO, NanoString Technologies operates:
– a life science business that provides the nCounter® Analysis System and associated products for research applications such as gene expression, copy number variation and micro RNA analysis.
– diagnostics business that is focused on the U.S. regulatory process for, and the ex-U.S. launch of, its first molecular diagnostic product, a breast cancer assay based on the PAM50 gene expression signature. This test, which recently received the CE Mark, provides a subtype classification based on the fundamental biology of an individual’s breast tumor (referred to as intrinsic subtyping), as well as a prognostic score that indicates the 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. The PAM50 gene signature has not been cleared for marketing in the United States.