NanoString Technologies has agreed to be acquired by the healthcare investment firm Patient Square Capital for $220M pending approval by the US Bankruptcy Court. Patient Square has agreed to serve as the “stalking horse” bidder in a court-supervised sales process, during which the firm plans to purchase substantially all of NanoString’s global business operations as a going concern.
“Patient Square was attracted to NanoString for our technology portfolio, great people, and track record of serving customers in the scientific research community,” Brad Gray, NanoString’s president and CEO told GEN. “This agreement with Patient Square and our recent victory in the European patent court should ensure that our leading-edge platforms for spatial biology and gene expression will be available for many years to come.”