NanoString Technologies Prices IPO; VC firms Clarus, DFJ and OVP Poised for Payout

Venture-backed NanoString Technologies Inc. on Tuesday said that it is pricing its initial public offering of 5.4 million shares at $10 per share. The company, which makes life science tools for translational research and molecular diagnostic products, has raised a total of $82 million in venture capital since its founding in 2003. Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners as a group own 7.4 million pre-IPO shares, or 79% of the company, according to its S-1 filing.

Adapx Completes New, $3M Round

Adapx, a Seattle-based company whose software aims to speed data capture and collaboration by turning natural speech, sketch, and handwriting into actionable data in Microsoft Office and other back-end systems, has raised $3 million from existing investors OVP Venture Partners, Paladin Capital Group, Pelion Ventures, and Northwest Tech Ventures.

NanoString Technologies Completes Series E

NanoString Technologies, a provider of life science tools for translational research and developer of molecular diagnostic products, has completed a $15.3 million Series E Preferred Stock issuance. New investors in the transaction included Morgan Stanley Expansion Capital and AllianceBernstein Alternative Investment Management Group. All previous venture investors participated including Clarus Ventures, Draper Fisher Jurvetson, OVP Venture Partners, GE healthymagination Fund, BioMed Ventures, and Henri Termeer.

NanoString Technologies Appoints New CFO

NanoString Technologies, a provider of life science tools and developer of molecular diagnostics, has appointed James A. Johnson as the company’s new chief financial officer. Johnson assumes this role from Wayne Burns who will remain with the company in his new position as senior vice president, operations and administration. NanoString Technologies is backed by GE, BioMed Ventures, Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners.

W Fund Officially Launches to Invest in Washington-Based Start-ups

Seattle-based W Fund, a $20 million, university-focused  fund that officially closed on May 31, officially launched today, according to its managing directors. The fund aims to back startups spun out of the University of Washington and other state research institution and its decisions will be made by an investment committee that Tom Alberg and Greg […]

Fate Therapeutics Appoints chairman and interim CEO

San Diego headquartered biotech company Fate Therapeutics has appointed William H. Rastetter as chairman and interim CEO. Rastetter is also a partner in venture capital firm Venrock. Fate Therapeutics has secured venture backing from OVP Venture Partners, Astellas Venture Management, Genzyme Ventures, ARCH Venture Partners, Polaris Venture Partners and Venrock. PRESS RELEASE Fate Therapeutics, Inc. […]

Groove Biopharma Raises $6 Mln

Groove Biopharma has raised $6 million in series B financing from Alexandria Venture Investments, ARCH Venture Partners, OVP Venture Partners, Versant Ventures, and WRF Capital. Seattle-based Groove Biopharma is a privately held biotech.

Aruba Networks Buy VC-Backed Avenda Systems

Avenda Systems, a network security company backed by OVP Venture Partners, has been acquired by publicly traded Aruba Networks Inc. Terms of the deal were not released. Avenda employees join Aruba at its campuses in Sunnyvale, Calif., and Bangalore, India, the company said.

NanoString Inks $20M Series D

Seattle-based NanoString Technologies, a provider of tools for translational research and developer of molecular diagnostics, has raised $20 million in Series D financing. New investors include GE; BioMed Ventures; and Henri Termeer, the former chief executive of Genzyme Corp. All previous venture investors in NanoString also participated in the financing, including Clarus Ventures, Draper Fisher Jurvetson and OVP Venture Partners, the company said.

Lucid Commerce Sees $8M C Round

Lucid Commerce, the TV targeting and measuring company, raised $8 million from a group of investors including Rho Ventures, StarVest Partners, Positec USA, OVP Venture Partners and Greycroft Partners LLC. Rho led the round. Doug McCormick, venture partner at Rho Ventures, will join the company’s board as part of the transaction.

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