NEW YORK, Sept. 11, 2015 (GLOBE NEWSWIRE) -- At a meeting with analysts and investors today, members of the senior management team of NanoString Technologies, Inc. (NASDAQ:NSTG), a provider of life science tools for translational research and molecular diagnostic products, plan to unveil the company's strategic roadmap to drive continued growth and expand the market for its nCounter® Analysis System and the related product portfolio.
"This is an exciting time for our company as we build upon our leadership position in the field of precision oncology," stated Brad Gray, President and Chief Executive Officer of NanoString. "We expect to continue raising our profile among academic researchers, biopharma companies and clinical laboratories focused on oncology by adding powerful 3D BiologyTM applications, broadening access with our new and affordable nCounter SPRINTTM Profiler and expanding our diagnostic menu to include 'gold standard' tests enabling key decisions in cancer treatment. With these innovations we estimate that our targeted market opportunity increases to $6 billion."
Introducing the Power of 3D Biology
Joe Beechem, Ph.D., Senior Vice President of Research & Development for NanoString, will introduce the latest developments in 3D Biology, a unique application of the company's proprietary optical barcoding technology for allowing measurement of any combination of DNA, RNA, and protein simultaneously on a single system. 3D Biology applications enable researchers to make entirely new observations about cancer biology while maximizing the data generated from precious samples. Building on the company's commercial launch of its first RNA:Protein application announced yesterday, Dr. Beechem will describe a newly-developed enhancement to the nCounter chemistry that enables measurement of single nucleotide polymorphisms, or SNPs, enabling cancer researchers to detect DNA mutations in the same experiment as RNA and protein expression. Dr. Beechem will also present data from a "first-of-its-kind" experiment using a 3D Biology assay to simultaneously measure DNA SNPs, RNA and protein expression in a model system commonly used in cancer research.
Expanding nCounter Market Opportunities
Barney Saunders, Ph.D., Senior Vice President of Sales & Marketing for NanoString, will highlight two major avenues being pursued to expand addressable markets—increased power from 3D Biology applications and expanded access provided by the company's new nCounter SPRINT Profiler. Dr. Saunders will introduce the newly launched RNA:Protein PanCancer Immune Profiling Panel, the company's first 3D Biology application. He will describe the market opportunity for 3D Biology and highlight additional 3D Biology applications planned for introduction in 2016 and 2017. Dr. Saunders will introduce the company's recently launched SPRINT Profiler (which will be displayed at the meeting) summarizing the resulting increased addressable market and the features that, together with access to 3D Biology applications, are expected to drive installed base growth in the coming years.
Building Diagnostic Menu
Brad Gray will summarize the company's strategy to build its diagnostic menu by continuing to source discoveries from research customers, and working collaboratively with biopharma companies to develop companion diagnostic tests. He will highlight the unique platform and capabilities that have been established through the development and commercialization of the Prosigna® Breast Cancer Assay and collaborations to date with Celgene and Merck, laying the foundation for future diagnostic menu. In addition, he will highlight the factors that make immuno-oncology a compelling opportunity for 3D Biology, including the potential for broad-based tests to support immuno-oncology therapies.
The meeting will include presentations by two guest speakers, Dr. Gordon Mills of the MD Anderson Cancer Center and Dr. McGarry Houghton of the Fred Hutchinson Cancer Research Center, who will provide relevant customer perspectives regarding the company's new 3D Biology applications.
A live webcast of the event will be accessible from the Investors page of the NanoString corporate website at www.nanostring.com. A replay will be available on the company's website following the event.
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 800 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 has also been applied to diagnostic use. 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.
For more information, please visit www.nanostring.com.
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 expected growth of the company's business, the capabilities of its current and future products, expanded market opportunities resulting from the launch of new products, and its ability to enhance the development of new cancer therapeutics and aid in the treatment of cancer patients. 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 or applications; delays or denials of reimbursement for diagnostic products; the impact of competition; the impact of expanded sales, marketing, product development and clinical activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or clinical studies; 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.
The NanoString Technologies logo, NanoString, NanoString Technologies, nCounter, nCounter SPRINT, 3D Biology and Prosigna are registered trademarks or trademarks of NanoString Technologies, Inc. in various jurisdictions.
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Source:NanoString Technologies, Inc.