NanoString Technologies
| Company type | Public (until 2024) |
|---|---|
| Industry | Biotechnology |
| Founded | 2003 |
| Founder | Krassen Dimitrov, Amber Ratcliffe, Dwayne Dunaway |
| Defunct | April 19, 2024 |
| Fate | Acquired by Bruker Corporation and merged into Bruker Spatial Biology |
| Headquarters | Seattle , United States |
| Products | nCounter Analysis System, GeoMx Digital Spatial Profiler, CosMx Spatial Molecular Imager, AtoMx Spatial Informatics Platform |
Number of employees | (unknown, but had 20% workforce reduction in late 2023) |
| Parent | Bruker Corporation (from April 2024) |
NanoString Technologies, Inc. was a biotechnology firm focused on discovery and translational research. It has since been incorporated into Bruker Spatial Biology.
Among NanoString's principal offerings were the nCounter® Analysis System, GeoMx® Digital Spatial Profiler, CosMx™ Spatial Molecular Imager, and AtoMx™ Spatial Informatics Platform. These solutions facilitate comprehensive gene and protein expression profiling within tissue environments. The platforms utilize digital molecular barcoding technology originally developed at the Institute for Systems Biology in Seattle under the guidance of Dr. Leroy Hood.
History
The original patent for the nCounter Analysis System was developed at the Institute for Systems Biology. The business strategy, crafted by Amber Ratcliffe and Aaron Coe, secured initial funding through various competitions. Established in 2003 by Krassen Dimitrov, Amber Ratcliffe, and Dwayne Dunaway, NanoString released its nCounter Analysis System in 2008 and began global sales of multiplexed gene expression assays.
Following the unexpected departure of CEO Perry Fell in 2009, Wayne Burns took over as interim CEO until Brad Gray—previously with Genzyme—was appointed in 2010. Although the company was not yet profitable at that time, it announced plans to enter the clinical diagnostics market. By 2012, NanoString added executives experienced with public companies as part of its preparations for an IPO. The 2013 public offering generated funds to enhance sales and marketing operations.
NanoString launched its inaugural spatial biology platform, the GeoMx DSP, in 2019. The company introduced the CosMx Spatial Molecular Imager in 2022, which enables multiplexed RNA and protein detection at single-cell resolution. Commercial distribution of both CosMx and its companion AtoMx platform commenced in December 2022.
Confronted with financial difficulties, NanoString filed for Chapter 11 bankruptcy protection on February 4, 2024, following a workforce reduction of 20% in late 2023. The company evaluated restructuring strategies including a possible sale.
On April 19, 2024, Bruker Corporation acquired NanoString’s assets for $392.6 million in cash. Subsequently, Bruker formed Bruker Spatial Biology by combining NanoString’s operations with Canopy Biosciences and Bruker Spatial Genomics (formerly Acuity Spatial Genomics), thereby broadening its capabilities in spatial biology technologies.
Technology and products
The name NanoString initially referred to a barcoded DNA probe created in the early 2000s at the Institute for Systems Biology designed for direct digital nucleic acid detection. Following commercialization, NanoString Technologies adopted this name as both its corporate identity and platform brand, marketing their instrument as the nCounter Analysis System. In scientific literature, “NanoString” can denote the probes themselves, the nCounter platform, or the company. Core products encompass the nCounter Analysis System—which profiles hundreds of genes, proteins, miRNAs, or copy number variations—and the CosMx Spatial Molecular Imager that allows researchers to visualize single cells within their native tissue contexts.