Veracyte’s $50 Million Acquisition Of nCounter FLEX System

Perella Weinberg Partners L.P. acted as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati served as legal counsel to NanoString.

NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for translational research, announced a strategic transaction to exclusively license select nCounter-based diagnostic assets and rights to Veracyte Inc. for $50 million in cash and Veracyte stock, plus up to $10 million in cash upon satisfaction of future potential milestones.

Under the terms of the agreement, Veracyte has obtained exclusive global rights to develop and commercialize diagnostic tests on NanoString’s nCounter® FLEX system. Veracyte plans to expand the portfolio of nCounter-based diagnostic products using its own proprietary tests. Veracyte has also obtained the rights to the NanoString 510(k)-cleared Prosigna® Breast Cancer Assay and nCounter Dx LymphMark™ assay, which is currently available for research and investigational use only. Veracyte will also distribute the nCounter FLEX system for diagnostic purposes. NanoString will retain the exclusive right to commercialize nCounter products for research and investigational use.

NanoString will manufacture test kits for Prosigna, LymphMark and new tests developed by Veracyte or its partners for use on the nCounter FLEX platform. Diagnostic assay kits and nCounter systems will be sold to Veracyte at preset prices under supply agreements between NanoString and Veracyte.

The Wilson Sonsini team included by Farah Gerdes (Picture), Manja Sachet, James Silver, Lee Strasburger, Ethan Lutske, Ross Tanaka, Elia Perez Villamarin, Michael Nordvedt, Bryan King, David Hoffmeister, Eva Yin, Matt Staples, Scott McCall, Michelle Wallin, Mark Cornillez-Ty, Rebecca Stuart, Meaghan Snyder, Myra Sutanto Shen and Sunny Dhaliwal.

Involved fees earner: Farah Gerdes – Wilson Sonsini Goodrich & Rosati; Ethan Lutske – Wilson Sonsini Goodrich & Rosati; Manja Sachet – Wilson Sonsini Goodrich & Rosati; James Silver – Wilson Sonsini Goodrich & Rosati; Lee Strasburger – Wilson Sonsini Goodrich & Rosati; Ross Tanaka – Wilson Sonsini Goodrich & Rosati;

Law Firms: Wilson Sonsini Goodrich & Rosati;

Clients: NanoString;

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Author: Ambrogio Visconti