La società biotech di Seattle NanoString sarà acquisita da Bruker per $392M, mettendo fine al processo di bancarotta
NanoString Acquired by Bruker: A New Chapter Begins
NanoString, a Seattle-based company, is set to be acquired by Bruker, a Massachusetts-based life sciences research and diagnostic giant.
This acquisition marks the end of NanoString’s restructuring process, which involved a Chapter 11 bankruptcy plan.
The Acquisition Deal
Bruker, founded in 1960, will pay $392.6 million for NanoString.
The transaction is expected to be finalized next month.
NanoString had announced its Chapter 11 bankruptcy plan in February after facing a patent infringement case loss against 10X Genomics.
In March, NanoString received a “stalking horse” bidder during the bankruptcy proceedings.
However, Bruker outbid them last week with a significantly higher offer, a 78% increase in value compared to the previous bid.
Legal Troubles and Financial Impact
The legal battle with 10X Genomics resulted in a jury awarding more than $31 million in damages to the Pleasanton, Calif.
company.
This led NanoString to go through multiple rounds of layoffs, including a 9% reduction affecting 50 positions announced in January.
Despite reaching record-high shares above $80 in 2021, NanoString’s stock price declined over the following years.
By January, the company faced non-compliance issues with Nasdaq due to its stock price falling below the minimum $1 threshold for 30 consecutive business days.
A Look Back at NanoString
Established in 2003 as a spin-out from the Institute for Systems Biology, NanoString went public in 2013.
The company, focused on spatial biology and gene expression analysis, has been instrumental in advancing research in cancer, immunology, and neurology.
NanoString CEO Brad Gray expressed confidence in Bruker’s ability to uphold customer access to NanoString’s innovative platforms, emphasizing the importance of their technologies in critical disease research areas.
With Bruker’s acquisition, NanoString’s future seems poised for new opportunities and advancements in the field of life sciences research and diagnostics.
