March 12, 2007
President and CEO
How has your company adapted and responded to the changing economic climate in the past five years when so many others companies did not?
As a privately held, development stage company engaged in research and development of novel nanotechnology applications in the field of biodiagnostics, we have been primarily concerned with sources of funding. While government grants have played a role in funding specific programs, we have been largely dependent upon venture capital and private equity markets. Fortunately, although the hurdles for investment are higher due to the economic climate, there is a growing pool of capital both in the US and abroad available to those companies that possess solid technology bases targeting significant market opportunities.
What is your vision for the future of the life sciences market over the next several years?
In the first half of the twentieth century, in vitro diagnostic (IVD) tests were predominantly confirmatory in nature, as technology had not advanced to the level required to support a physician in the timeframe of initial diagnosis. In the last 50 years, diagnostic tests have become important diagnostic tools as technology has moved testing closer to the physician-patient setting and new tests have been developed with greater sensitivity.
In the future, we believe IVDs will continue to increase in importance as a tool for earlier diagnosis of disease, accurately targeting patient specific therapies and monitoring patient status. Technology will move molecular diagnostics from the realm of the esoteric to mainstream medicine and ultra-sensitive detection methods will facilitate the discovery and commercialization of new biomarkers, leading to earlier detection of disease.
What products and services does your company provide and what special capabilities do they offer the life sciences market?
Our nanotechnology-based direct probe and detection system addresses the need for earlier detection of disease and decentralization of molecular diagnostic testing with a simplicity of operation and cost that will enable adoption by mainstream medicine. We are simplifying genetic testing by eliminating the need for target amplification systems such as PCR and the requisite costly equipment and lab space and associated specialized training. Our technology also enables direct high count multiplexing, something that cannot be achieved today without integrating more complex technologies. Our technology also enables ultra-sensitive protein detection, which can lead to earlier diagnosis of cardiovascular disease, cancer and neurological disorders such as stroke and Alzheimer’s disease. Moreover, both genetic and protein tests run on the same platform, a combination unique in the industry.
Partnerships are an effective way to track life science advances and ensure that your company delivers timely products and services. Which life sciences companies or organizations have you partnered with or invested in and why?
Nanosphere has partnered with several companies and research laboratories to validate and commercialize new biomarkers for diseases where diagnostic tests today are insufficient or do not exist. We have also developed relationships with renowned leaders in medicine to demonstrate and validate the clinical significance of ultra-sensitive detection for specific diseases in the field of cardiovascular medicine and oncology.
What are your most exciting products and initiatives in development, and how will they improve life science research?
The Verigene System, which Nanosphere will launch this summer, will incorporate two core technologies. Nanosphere’s direct genomic detection and ultra-sensitive protein detection. Ease of use and low-cost operation will facilitate decentralization of heretofore complex molecular diagnostics. Ultra-sensitive protein detection will lead to earlier detection of disease and the development of new biomarkers and diagnostic tests for diseases where none exist today. Combined, these technologies will advance the state of the art in diagnostic medicine toward earlier detection of disease and more targeted therapies.
Where do you see your company in five years?
We see Nanosphere as a technology and market leader in molecular diagnostics. Over the next five years, Nanosphere’s technology will play a significant role in advancing the capabilities of several of the highest growth segments of the life sciences industry and will enable the development of new, more sensitive and specific diagnostic tests.