NanoString Technologies, Inc., a pioneer in life science tools for research, has signed anagreement with Patient Square Capital, a leading healthcare investment firm, to acquire the majority of NanoString’s global business assets for a sum of $220 million.

This acquisition is part of a strategic sale process under Section 363 of the Bankruptcy Code, which includes a court-approved bidding procedure that could potentially welcome superior bids.

Brad Gray, President and CEO of NanoString, expressed optimism about the agreement, stating, “This partnership with Patient Square ensures ongoing support for our scientific community and staff. It’s a crucial stride in our financial reorganization.”

He further emphasized Patient Square’s dedication to NanoString’s vision of mapping biological complexities and their readiness to invest in the company’s innovative product trajectory.

Patient Square Capital, with a robust $8 billion in managed assets as of the end of 2023, is renowned for its commitment to enhancing health through strategic partnerships with top-tier management teams and companies.

Their investment philosophy centers on fostering growth in entities that aim to better patient outcomes, strengthen communities, and contribute to a healthier society.

NanoString Technologies stands at the forefront of spatial biology, offering a suite of cutting-edge solutions that enable comprehensive biological mapping.

Their flagship product, the GeoMx® Digital Spatial Profiler, merges the capabilities of whole tissue imaging with intricate gene and protein data, paving the way for advanced spatial transcriptomics and proteomics.

This move marks a hopeful chapter for NanoString, as it seeks to navigate through its financial restructuring with a strong partner poised to support its mission and drive future growth.