Nanosphere nets $1.5M in grants

Sept. 19, 2002 — Nanosphere Inc. said it will use two grants worth $1.5 million to develop diagnostic tests to assess genetic risk factors for cancer and hypercoagulation disorders.

Nanosphere, a Chicago area life sciences startup, said the grants from the National Institutes of Health coincide with the launch of a detection system geared toward the clinical diagnostic market. The company’s system incorporates nanoparticle probe technology in a biomolecular detection system that is designed to eliminate traditional amplification methods, according to a news release.

The firm has licensed technology from Northwestern University’s Institute for Nanotechnology. Chad Mirkin, the center’s director, co-founded Nanosphere.

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