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| NanoString CEO Brad Gray |
NanoString Technologies ($NSTG) is teaming up with Brigham and Women's Hospital (BWH) to study genomic biomarkers and develop diagnostic tests for cancer, furthering the company's plans for accelerated growth.
Scientists will use NanoString's nCounter Analysis System and Elements reagents to identify genetic markers for specific tumor types and create tumor profiles. The team then plans to develop more efficient, scalable clinical tests that improve outcomes for cancer patients, lead investigator Dr. Scott Rodig said in a statement. NanoString will retain the right to license diagnostic content developed through the collaboration.
"We are excited to partner with Brigham and Women's Hospital to accelerate the process of taking assays the 'last mile' from late-stage translational research to clinically validated assays," said Brad Gray, president and CEO of NanoString. "This collaboration builds on our growing suite of nCounter Elements offerings by combining Brigham and Women's Hospital's world-class translational research capabilities with NanoString technology to develop robust, highly multiplexed assays that allow researchers to move genomic discoveries quickly from bench to bedside."
It has been a busy year for NanoString, as the company recently inked a companion diagnostics deal and amped up development for its breast cancer assay. In January, NanoString priced a follow-on offering of $55 million to boost commercialization for its Prosigna breast cancer test. The FDA-cleared in vitro assay uses the PAM50 gene signature to assess breast cancer tumor risk in postmenopausal women and tests cells found in existing breast cancer tissue.
In June, NanoString announced that it would partner with Celgene ($CELG) to develop a companion diagnostic test to screen a subset of lymphoma patients who would benefit from the company's blockbuster cancer drug, Revlimid. NanoString stands to make $45 million if it can chart the appropriate regulatory and development milestones for the test.
- read the release
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