US-based financial services firm Morgan Stanley has led a $15.3m Series E round for US-based NanoString Technologies, a spin out of Seattle-based Institute for Systems Biology.
US-listed investment bank Morgan Stanley has co-led a $15.3m Series E preferred stock round of financing into NanoString Technologies with investment management company Alliance Bernstein. NanoString is a spinoff from the institute for Systems Biology and develops molecular diagnostic products and tools for translational research. There were also investments from return backers Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE Healthymagination Fund, BioMed Ventures and Henri Termeer.
NanoString has raised at total of $88.8m in venture funding. NanoString’s Series B financing led by Draper Fisher Jurvetson, raised $8.5m was raised in its Series C round raised $30m in 2009, with a venture round in 2010 raising $15m led by Clarus Ventures and a further $20m in a Series D round led by GE Healthcare’s Healthymagination fund.
Brad Grey, executive president of NanoString, said: “We are pleased to welcome two new shareholders, and are grateful for the ongoing support from our existing shareholders, we plan to use these funds to benefit all shareholders by advancing the development and commercialisation of our PAM50 breast cancer assay and continuing to invest in building our life sciences business.”
