Restructuring and Litigation FAQs
Why is NanoString initiating Chapter 11 restructuring?
- 10x Genomics, one of the largest companies in our marketplace, has deployed an unfair multijurisdictional patent litigation campaign against us and multiple other companies in our marketplace in an effort to control life sciences research tools.
- The litigation has been extraordinarily costly.
- Chapter 11 allows us to preserve critical legal rights and renegotiate with creditors.
How will this impact customers?
- There will be no change to how we work with customers. The restructuring process prioritizes our normal operations and continuity of commercial activities.
Should I be concerned about NanoString’s financial position if I am considering a purchase?
- No, you should select our leading-edge instruments and products because they are the most advanced tools in the genomics and spatial biology space.
- The primary objective of the restructuring is to protect our business so we can continue to provide our innovative products and services to our valued customers. We’re confident that we’ll emerge from this process in a better position to serve your research needs for years to come.
Like NanoString, I’m concerned that one company is pursuing an anticompetitive and misguided business strategy to the detriment of innovation and science. How can I support NanoString?
- The best way to support us is to continue to adopt our leading-edge products.
- You can raise awareness for freedom of choice through your networks including social media, conferences and within your institutions.
- Choose #innovationNOTlitigation
What are the likely outcomes of the restructuring process?
- NanoString could emerge as independent company or owned by an acquirer.
- Either outcome will provide continuity for technology innovation and continued support for our customers.
How will this impact vendors and suppliers?
- We will continue to serve customers and maintain normal operations. Suppliers and vendors are important partners.
- The risk of business disruptions is in fact LESS now that we are in Chapter 11 than it was previously.
- There is an efficient Court-supervised process to ensure vendors and suppliers are paid.
How can I stay up to date on the process?
- Reach out to your normal business contact.
- Additional information can be found at the website administered by our claims agent, Kroll Restructuring Administration LLC or by calling the Company’s restructuring hotline, toll-free in the U.S., at (844) 596-1372.
- We will issue press releases as developments warrant.