NanoString Technologies

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NanoString Technologies, Inc
Russell 2000 Component
FoundersKrassen Dimitrov, Amber Ratcliffe, Dwayne Dunaway
HeadquartersSouth Lake Union, ,
Key people
Brad Gray, CEO
ProductsnCounter® Analysis System, GeoMx® Digital Spatial Profiler
BrandsnCounter®, GeoMx® DSP
Revenue$147.6 million[1] (2014)
Total equity$204 million[1] (2015)
Number of employees
270[1] (2015)

NanoString Technologies, Inc. (NASDAQ: NSTG) is a publicly held biotech company that develops translational research tools.[1] The company was founded by Krassen Dimitrov, Amber Ratcliffe, and Dwayne Dunaway in 2003,[2][3] and is based in Seattle, Washington.[4]


The original patent that is the basis for the nCounter Analysis System was invented and licensed from The Institute for Systems Biology.[citation needed] The business plan was written by Amber Ratcliffe and Aaron Coe and won seed funding in multiple business plan competitions.[5] NanoString was spun out of The Institute for Systems Biology and founded as a separate company in 2003 by Krassen Dimitrov, Amber Ratcliffe and Dwayne Dunaway.[6]

In 2004, NanoString raised its first significant funding in a $4.3M series A financing.[citation needed] They have since raised several more rounds of financing to expand into the development of molecular diagnostics. As of 2011, NanoString Technologies had raised nearly $70M with their series D.[7][citation needed]

In 2009, Perry Fell, who had been CEO since 2004, left the company abruptly and with no official explanation.[8] Between 2009 and 2010, the company operated with an acting CEO, Wayne Burns.[9] Brad Gray, a former Genzyme executive, was hired as president and CEO in 2010.[9]

As of June 2010, the company was not yet profitable.[9] In an interview, Gray suggested that NanoString would begin to develop clinical diagnostics.[9] As of July, 2012, NanoString began indicating a move towards becoming a public company by hiring several senior staff with public company experience.[10]

In 2013, the company's IPO raised funding that was used to expand NanoString sales and marketing.[1]

Technology & Products[edit]

NanoString's nCounter is a variation on the DNA microarray.[11] It uses molecular "barcodes" and microscopic imaging to detect and count up to several hundred transcripts in hybridization reaction.[12]

More recently, nanoString introduced the GeoMx DSP (Digital Spatial Profiler) to help provide single cell resolution in a spatial context.[citation needed]


  1. ^ a b c d e f Annie Zak (20 March 2015). "NanoString pulls in 52% more sales". Puget Sound Business Journal. Vol. 35, no. 48. Seattle: American City Business Journals. p. 39. ISSN 8750-7757. LCCN 99107105. OCLC 11683053.
  2. ^ Kimberly Stegmaier. "Krassen Dimitrov of ISB on Business and Better Microarray Labels | BioArray News | Arrays". GenomeWeb. Retrieved 2012-10-14.
  3. ^ Nocera, Joseph (2004-04-05). "A Tale Of Two Companies One started in 1955 and is in the FORTUNE 500. The other started five months ago and doesn't have an office yet. What it takes to reach the pinnacle of business. - April 5, 2004". Retrieved 2012-10-14.
  4. ^ Timmerman, Luke (August 11, 2004). "Funding lets Nanostring pursue molecular "bar-code" reader". Seattle Times.
  5. ^ Puget Sound Business Journal (2003-05-27). "UW startup wins second business plan competition - Puget Sound Business Journal". Retrieved 2012-10-14.
  6. ^ "". Retrieved 2022-03-31.
  7. ^ "NanoString Adds $2.5M Financing". Xconomy. 2011-06-30. Retrieved 2012-10-14.
  8. ^ "NanoString CEO Perry Fell Departs". Xconomy. 2009-03-24. Retrieved 2012-10-14.
  9. ^ a b c d "NanoString Hires Genzyme Vet as CEO to Lead Foray Into Molecular Diagnostics". Xconomy. 2010-06-29. Retrieved 2012-10-14.
  10. ^ "NanoString Makes IPO Prep Move, Adds Finance Vet to Board". Xconomy. 2012-07-18. Retrieved 2012-10-14.
  11. ^ US application 2017081713, Kim, Dae; Ross, Paul Martin & Meredith, Gavin et al., "Multivalent probes having single nucleotide resolution", published 2017-03-23, assigned to Nanostring Technologies Inc. , since abandoned.
  12. ^ Geiss, Gary K; Bumgarner, Roger E; Birditt, Brian; Dahl, Timothy; Dowidar, Naeem; Dunaway, Dwayne L; Fell, H Perry; Ferree, Sean; George, Renee D; Grogan, Tammy; James, Jeffrey J; Maysuria, Malini; Mitton, Jeffrey D; Oliveri, Paola; Osborn, Jennifer L; Peng, Tao; Ratcliffe, Amber L; Webster, Philippa J; Davidson, Eric H; Hood, Leroy; Dimitrov, Krassen (2008). "Direct multiplexed measurement of gene expression with color-coded probe pairs" (PDF). Nature Biotechnology. 26 (3): 317–25. doi:10.1038/nbt1385. PMID 18278033.