NORTHBROOK, Ill., Aug. 11, 2009 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (Nasdaq:NSPH - News), a leader in the development and commercialization of advanced molecular diagnostics systems, announced today that it has entered into an agreement with Eli Lilly and Company (NYSE:LLY - News) to collaborate in connection with employing pharmacogenetic assays in drug development initiatives. The two companies have signed the agreement and the financial terms were not disclosed.
Nanosphere is developing the pharmacogenetic assays for use with its new Verigene SP(r) system -- a sample-to-result, bench top molecular diagnostics instrument. The turnkey and random access system uses whole blood and requires no PCR. It allows for broad dissemination to recruitment sites which have no molecular laboratories or to facilities already performing genetic testing.
About Nanosphere, Inc.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene(r) System, for direct genomic and ultra-sensitive protein detection. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.
The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344
Except for historical information, the matters discussed in this press release are “forward-looking statements” and are subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (i) Nanosphere’s ability to develop commercially viable products; (ii) Nanosphere’s ability to achieve profitability; (iii) Nanosphere’s ability to produce and market its products; (iv) Nanosphere’s ability to obtain regulatory approval of its products; (v) Nanosphere’s ability to protect its intellectual property; (vi) competition and alternative technologies; and (vii) Nanosphere’s ability to obtain additional financing, if and when necessary, to support its operations. Additional risks are discussed in the Company’s current filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Contact:
Nanosphere, Inc. Investors: Roger Moody, Chief Financial Officer 847-400-9021 rmoody@nanosphere.us Business Development: Winton Gibbons, Senior Vice President, Business Development 847-400-9029 wgibbons@nanosphere.us
The Torrenzano Group Media: Rick Anderson 212-681-1700, Ext. 115 randerson@torrenzano.com
