NanoString, the Seattle-based biotech company that initiated a Chapter 11 bankruptcy process last month, announced late Sunday it agreed to a deal with healthcare investment firm Patient Square Capital.
- The Silicon Valley-based firm will pay $220 million for NanoString assets. Patient Square Capital will serve as the “stalking horse” bidder, with other competing offers to be considered until April 12.
- NanoString filed for bankruptcy following a patent battle with 10X Genomics and subsequent layoffs.
- “This agreement with Patient Square provides continuity for our scientific customers and employees, and represents an important step in our financial restructuring,” NanoString President and CEO Brad Gray said in a statement.
