NanoString proposes $55 million follow-on

Diagnostics company NanoString Technologies Inc. (NASDAQ:NSTG) proposed to raise $55 million in a follow-on underwritten by JPMorgan; Morgan Stanley; Leerink; and Baird. Last year, NanoString launched its Prosigna Breast Cancer Prognostic Gene Signature Assay in the U.S., EU and Israel to subtype breast cancer tumors and estimate the probability of cancer recurrence in postmenopausal women. The intrinsic subtyping assay runs on NanoString's marketed nCounter Analysis System, an automated system for digital gene expression analysis, and uses the PAM50 gene signature, to which NanoString has exclusive, worldwide rights from Bioclassifier LLC (St. Louis, Mo.). ...