MedTech Dive February 5, 2024
The life science tools company said it is evaluating whether to sell all or part of its business after attracting interest from potential buyers.
Dive Brief:
- Nanostring Technologies, a maker of life science research tools, said it has filed for Chapter 11 bankruptcy protection and is exploring strategic alternatives in connection with the proceedings, including a potential sale of the company or product lines.
- CEO Brad Gray, in a statement Sunday, said large damages awarded by a jury in November in a patent lawsuit brought by competitor 10x Genomics forced Nanostring to take steps to protect its business.
- Nanostring said it has received “multiple preliminary indications” of interest from potential acquirers and is currently evaluating them.
Dive Insight:
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Topics: Medical Devices