Veracyte Signs an Exclusive License Agreement with NanoString for its nCounter FLEX System

Shots:

• NanoString to receive $40M in cash & $10M in Veracyte’s stock along with $10M as milestones.  Veracyte to get an exclusive global right to develop and commercialize diagnostic tests on NanoString’s nCounter FLEX system
• Veracyte will expand nCounter-based diagnostic portfolio utilizing its own test and has obtained rights to NanoString’s 510(k)-cleared Prosigna breast cancer prognostic test and research-use LymphMark lymphoma assay and will distribute the nCounter FLEX system for diagnostic purposes
• NanoString will retain an exclusive right to commercialize nCounter products and will manufacture test kits for Prosigna, LymphMark and new tests developed by Veracyte or its partners for use on the nCounter FLEX platform. Additionally, Veracyte will buy diagnostic assay kits and nCounter systems under a different supply agreement

Click here to­ read full press release/ article | Ref: Businesswire | Image: Owler