Seattle-based NanoString Technologies is getting a $30 million boost to help it commercialize "user-friendly technology for characterizing and quantifying expression profiles in complex biological samples."
Clarus Ventures led the round with OVP Venture Partners and Draper Fisher Jurvetson-- NanoString's existing investors--joining in the Series C. Xconomy offers a concise outline of the technology and the $1 billion market for precise gene expression analysis tech that NanoString is tackling with its nCounter. The Seattle biotech is competing against heavyweights like Affymetrix and Illumina and has rung up a venture round that ties for the second largest this year for a Seattle life sciences company.
"We believe that NanoString Technologies has the best-in-class platform for expression profiling," said Clarus Ventures' Nicholas Galakatos, who is joining the board. "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."
- check out the press release
- read the story from Xconomy
ALSO: A pair of biotech start-ups announced their Series A rounds. Durham, NC-based Pique Therapeutics raised more than $500,000 in the first tranche of their Series A, according to regulatory documents. And Austin-based Savara Pharmaceuticals says it may go after a second tranche for its Series A if it needs more money. There's no word on just how much Savara got from the round. Pique Therapeutics release