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NANOSPHERE/TAKARO BIO FORM DEVELOP/DISTRIBUTE ALLIANCE.

Nanosphere, Inc., Northbrook, Ill., a privately held nanotechnology-based life sciences company, has signed a letter of intent to form a development and distribution alliance with Takara Bio Inc., one of Japan's leading biotechnology companies.

In the alliance, Takara will have exclusive distribution rights for certain Nanosphere products in Asia and non-exclusive rights in European countries. The alliance also includes the development of highly sensitive, selective and portable detection systems that combine Nanosphere's proprietary nanoparticle DNA probe technology with Takara's proprietary ICAN(TM) isothermal gene amplification technology. Takara also will be making an equity investment in Nanosphere.

"Nanosphere is very pleased to be working with Takara, an established leader in biotechnology product development and distribution. This alliance provides Nanosphere with a premier distribution partner in Asia and access to robust ICAN technology that will enable rapid market introduction of a powerful research system in the Asian marketplace," said Bill Athenson, Nanosphere's vice president of Business Development.

Nanosphere's technology utilizes state-of-the-art bio-diagnostic nanoparticle probes and proprietary bio-molecular detection systems to provide rapid and effective processes for nucleic acid and protein identification. As published in the February 22, 2002 issue of "Science," the technology has 1,000 times more sensitivity and 100,000 times greater specificity than current genomic detection systems.

Takara Bio Inc., Otsu, Japan, focuses on research and development of products and technologies in biotech research, gene and cell therapy, and nutraceuticals. Takara has a proven track record of high growth through research discoveries, technology development and the creation of strategic alliances with other industry leaders. Takara Bio's parent company is Takara Holdings, a $1.5 billion publicly traded company since 1949.

For more information, visit http://www.takara.co.jp/english.

Nanosphere, Inc. is a nanotechnology-based life sciences company in Northbrook, Illinois that is focused on developing assays for genomic and proteomic research, clinical laboratories and point-of-care markets. For more information about Nanosphere, visit http://www.nanosphere-inc.com or call 773-665-7650.
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Publication:Worldwide Biotech
Geographic Code:1USA
Date:Sep 1, 2002
Words:321
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