NanoString and Lam Research Announce Strategic Development Collaboration to Advance Hyb & Seq Next Generation Sequencing Plat...
August 08 2017 - 4:05PM
NanoString Technologies, Inc. (Nasdaq:NSTG), a provider of life
science tools for translational research and molecular diagnostic
products, and Lam Research Corporation (Nasdaq:LRCX), a global
supplier of innovative wafer fabrication equipment and services to
the semiconductor industry, today announced a strategic
collaboration to develop NanoString’s proprietary Hyb & Seq™
next-generation sequencing platform.
This collaboration brings together NanoString’s
proprietary sequencing chemistry and Lam’s expertise in advanced
systems engineering to enable nanoscale manufacturing, with the
goal of building a clinical sequencer with the simplest workflow in
the industry. The objectives of the collaboration are to complete
the development of the Hyb & Seq single molecule sequencing
chemistry, design and engineer a clinical sequencing instrument,
develop clinical assay panels, and secure the necessary regulatory
approvals. In addition, the companies intend to explore
methods for coupling the sequencing chemistry with advanced
semiconductor fabrication processes to optimize the performance of
molecular profiling platforms.
Under the terms of the collaboration, Lam will
provide up to $50 million of funding intended to cover the costs of
development and regulatory approval over a development period
expected to last approximately three years, as well as advanced
engineering and technical support. Lam will receive a warrant to
purchase one million shares of NanoString common stock at $16.75
per share, as well as a royalty on all products developed under the
collaboration. NanoString retains all rights to commercialize the
resulting Hyb & Seq products, and the parties will share
ownership rights in jointly developed intellectual property.
“We are excited to collaborate with Lam
Research, in a partnership that brings together leading innovators
in our respective fields,” said Brad Gray, NanoString’s President
and Chief Executive Officer. “By combining our Hyb & Seq
technology with Lam’s advanced engineering expertise, we intend to
fully resource the development of the industry’s simplest clinical
sequencer, and enable open-ended innovation at the intersection of
semiconductors and genomics.”
“Our vision is to create value from natural
technology extensions, including nanoscale applications enablement,
chemistry, plasma, fluidics, and advanced systems engineering,”
stated Martin Anstice, Lam Research’s President and Chief Executive
Officer. “We are excited to collaborate with NanoString to advance
the development of their novel Hyb & Seq system and chemistry
to meet the challenge of increasing our understanding of human
genetics, and we envision a number of strategic benefits
by aligning our complementary respective strengths. This
is a compelling opportunity for the whole to be significantly
greater than the sum of its parts; it is an accelerator of
enablement and value for both companies.”
Interested parties can access a presentation
summarizing details of the collaboration using the link
below.http://investors.nanostring.com/events.cfm
About Hyb & Seq
Hyb & Seq is a novel single molecule
sequencing technology being developed by NanoString. The platform
enables a workflow that is simpler and faster than current
sequencing methods because it does not require library preparation,
enzymes or amplification. Hyb & Seq technology’s simplicity,
flexibility, and accuracy offer the potential for an ideal
sample-to-answer solution for clinical sequencing. In
proof-of-concept experiments, the Hyb & Seq chemistry has
demonstrated:
- A low intrinsic error rate and the ability to provide high
consensus accuracy at low coverage by non-destructively sequencing
the same native molecule multiple times
- Simultaneous capture and sequencing of DNA and RNA molecules in
a single experiment
- Both short and long read capabilities, with demonstrated read
lengths up to 33kb and no theoretical upper limit
- Total processing time from FFPE sample to start of sequencing
of under 60 minutes, and hands-on time of less than 15 minutes
Hyb & Seq technology is currently for
research use only and is not for use in diagnostic procedures.
About NanoString Technologies,
Inc.NanoString Technologies provides life science tools
for translational research and molecular diagnostic products. The
company's nCounter® Analysis System has been employed in life
sciences research since it was first introduced in 2008 and has
been cited in more than 1,600 peer-reviewed publications. The
nCounter Analysis System offers a cost-effective way to easily
profile the expression of hundreds of genes, proteins, miRNAs, or
copy number variations, simultaneously with high sensitivity and
precision, facilitating a wide variety of basic research and
translational medicine applications, including biomarker discovery
and validation. The company's technology is also being used in
diagnostics. The Prosigna® Breast Cancer Prognostic Gene Signature
Assay together with the nCounter Dx Analysis System is FDA 510(k)
cleared for use as a prognostic indicator for distant recurrence of
breast cancer. In addition, the company is collaborating with
multiple biopharmaceutical companies in the development of
companion diagnostic tests for various cancer therapies, helping to
realize the promise of precision oncology.
For more information, please
visit www.nanostring.com.
NanoString, NanoString Technologies, the
NanoString logo, nCounter and Prosigna are trademarks or registered
trademarks of NanoString Technologies, Inc. in various
jurisdictions.
About Lam Research
CorporationLam Research Corp. is a global supplier of
innovative wafer fabrication equipment and services to the
semiconductor industry. As a trusted, collaborative partner to the
world’s leading semiconductor companies, Lam combines superior
systems engineering capability, technology leadership, and
unwavering commitment to customer success to accelerate innovation
through enhanced device performance. In fact, today, nearly every
advanced chip is built with Lam technology. Lam Research
(Nasdaq:LRCX) is a FORTUNE 500® company headquartered in Fremont,
Calif., with operations around the globe. Learn more at
www.lamresearch.com. (LRCX-B)
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934 and
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include statements regarding the
development of Hyb & Seq chemistry and related products, the
funding and expected timing for such development, regulatory
approvals and expected product capabilities and commercial
opportunity for such products. Such statements are based on current
assumptions that involve risks and uncertainties that could cause
actual outcomes and results to differ materially. These risks and
uncertainties, many of which are beyond our control, include market
acceptance of our products; delays or denials of regulatory
approvals or clearances for products; the impact of competition;
the impact of expanded sales, marketing, product development on
operating expenses; delays or other unforeseen problems with
respect to manufacturing and product development; adverse
conditions in the general domestic and global economic markets; as
well as the other risks set forth in the company's filings with the
Securities and Exchange Commission. These forward-looking
statements speak only as of the date hereof. NanoString
Technologies disclaims any obligation to update these
forward-looking statements.
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