On December 3, 2019, NanoString Technologies, 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 for $50 million in cash and Veracyte stock, plus up to $10 million in cash upon satisfaction of future potential milestones. The transaction closed on December 3, 2019. Wilson Sonsini Goodrich & Rosati represented NanoString in the transaction.

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 representing NanoString in the transaction includes:

Technology Transactions
Farah Gerdes
Manja Sachet

Mergers & Acquisitions
Ethan Lutske
Ross Tanaka
Elia Perez Villamarin

Corporate
Michael Nordtvedt
Bryan King

Regulatory
David Hoffmeister
Eva Yin

Privacy & Cybersecurity
Matt Staples

Employee Benefits and Compensation
Scott McCall
Michelle Wallin
Mark Cornillez-Ty

Employment Litigation
Rebecca Stuart

Tax and Tax Equity
Myra Sutanto Shen

For more information, please see NanoString Technologies' press release.