FDAnews Device Daily Bulletin

FLUSH WITH FUNDING, NANOSPHERE AIMS FOR DIAGNOSTICS MARKET

May 24, 2006
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Molecular diagnostic tests are the essential tools needed to closely match a more careful diagnosis at an early stage with new drugs that are designed to precisely target disease in carefully identified patient groups. That kind of personalized medicine is expected to greatly increase the response rate that patients have to a drug, which today is often a hit-and-miss approach, and advance the response time to treating disease. And Nanosphere just raised $57 million from investors who believe that the company's use of nanotechnology in the ultra-sensitive pursuit of molecular materials can offer a big improvement over the current generation of diagnostic tools on the market. Small Times (http://www.smalltimes.com/document_display.cfm?document_id=11560)