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Diagnostics Company Lands $20 Million Investment Round

$100 bills in a circle (Photos8.com)

(Photos8.com)

NanoString Technologies Inc., a Seattle-based privately held developer of medical science diagnostic tools, says it has closed a $20 million equity deal to finance the company’s continued growth. The series D round — the company’s fourth funding cycle after start-up — includes the first investment by GE’s healthymagination Fund.

NanoString Technologies makes molecular diagnostic equipment for genomics analysis, and is developing an assay specifically for breast cancer. The company says results from the first clinical study evaluating its breast cancer assay will be presented next month at the 2011 San Antonio Breast Cancer Symposium.

New investors in this round include GE’s healthymagination Fund, BioMed Ventures, and former Genzyme Corp. chairman Henri Termeer. They join current investors Clarus Ventures, Draper Fisher Jurvetson, and OVP Venture Partners.

Participation in the round by GE is the first for the new fund, announced in September, although specific contributions in this case were not disclosed. GE Healthcare supervises the $250 million fund along with GE Capital. In addition to diagnostics, the healthymagination Fund expects to invest in health care information technology and biopharmaceutical manufacturing technologies.

Read More: Diagnostics Start-Up Closes $33.5M Early-Stage Financing

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