Nanosphere
Inc. Awarded Two NIH Grants to Assess Genetic Risk Factors for Cancer and
Hypercoagulation Disorders
Northbrook,
IL-- September 17, 2002 -- Nanosphere Inc., a privately held
nanotechnology-based life sciences company, announced today it has been
awarded two grants from the National Institutes of Health (NIH) totaling
$1.5 million. These grants
will fund the development of SNP molecular diagnostic tests to assess
genetic risk factors for hypercoagulation disorders and colorectal cancer.
The
first NIH grant is focused on the development of a hypercoagulation
disorder panel consisting of SNPs in three genes (factor V, prothrombin,
and MTHFR). This panel is to be performed without target amplification
(i.e. PCR) on Nanosphere’s automated detection system. Colorectal cancer SNPs are the focus of the second NIH grant
and also will be performed on the company’s system with a simplified
target preparation, hybridization and detection protocol.
"Nanosphere
is pleased to be the recipient of these grants, and the timing for the
development of these tests coincides perfectly with the release of our
detection system geared toward the clinical diagnostic market," said
Vijaya Vasista, Nanosphere's Chief Operating Officer.
"The ability to test for coagulation disorders and propensity
for colorectal cancer demonstrates the breadth of tests that can be
performed on Nanosphere’s system,” she added.
The
company's ultra sensitive detection platform is designed to eliminate
traditional amplification methods, such as PCR.
Nanosphere's platform utilizes its well-published nanoparticle
probe technology in conjunction with a proprietary bio-molecular detection
system that exhibits extraordinary sensitivity while demonstrating 100,000
times greater specificity than current genomic detection systems.
Nanosphere,
a venture capital-backed company, is a nanotechnology-based life sciences
company in Northbrook, Illinois that is focused on developing assays for
research, clinical and point-of-care detection markets.
For more information, visit the company's web site at http://www.nanosphere-inc.com.
###
Wendy
Emanuel
Principal
Wellspring Communications, Inc.
2520 North Sheffield Avenue, Suite Q
Chicago, Illinois 60614
773-665-7650
wendy@wellspringcom.com
http://www.wellspringcom.com
