Nanosphere rolls up additional $5M

Jan. 6, 2003 — Nanosphere Inc., a Northbrook, Ill., developer of nanoparticle-based diagnostic technologies, has received an additional $5 million in third round financing, according to Vijaya Vasista, chief operating officer. The additional financing brings the third round total to $15 million.

New investor NextGen Partners LLC joined existing investors Lurie Investments and Takara Bio Inc. The financing, which Vasista anticipates will last about 18 months, will be used to continue development of the company’s disease detection platform. She said the company expects to get its “first generation product in a few select customer sites and we’re well on track to do that.”

She also said the company intends to work more closely with Takara Bio, based in Kyoto, Japan, in order to sell products in Asia.

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