NORTHBROOK, Ill., April 30, 2012 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, today announced that it entered into a marketing and distribution agreement with Thermo Fisher Scientific Inc. for markets in Germany, Austria and France. Thermo Fisher, the world leader in serving science, has a broad portfolio of products for microbiological applications.
Nanosphere previously received the CE mark to sell the Verigene® System and a number of assays targeted at the microbiology market segment, a rapidly growing field in which Thermo Fisher has a significant market presence.
"Thermo Fisher's marketing, distribution and customer support expertise combined with the unique ability of Nanosphere's Verigene System to detect multiple targets in a single, automated test creates a significant competitive advantage in building a major presence in these key European markets," said Michael McGarrity, Nanosphere's chief commercial officer.
"The agreement will focus on Verigene products that provide rapid identification of infectious diseases and associated drug resistance, arming physicians and hospitals with clinically actionable results that improve patient care and reduce the cost of treating critical illnesses," commented Paul James, Thermo Fisher's European vice president and general manager for microbiology. "We are excited to be working with the Nanosphere team to bring these innovative molecular diagnostic products to our customers for the first time. Together with our existing range of Thermo Scientific microbiology products, they provide a comprehensive solution to diagnosis of serious infectious disease," concluded James.
With the commencement of this agreement, Nanosphere will possess distribution agreements in all of the major markets in Europe, a key step in its global expansion strategy.
About Nanosphere, Inc.
Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene® System, for direct genomic and ultra-sensitive protein detection. This easy to use and cost effective platform enables simple, low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.
The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344
Except for historical information, the matters discussed in this press release are "forward-looking statements" and are subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (i) Nanosphere's ability to develop commercially viable products; (ii) Nanosphere's ability to achieve profitability; (iii) Nanosphere's ability to produce and market its products; (iv) Nanosphere's ability to obtain regulatory approval of its products; (v) Nanosphere's ability to protect its intellectual property; (vi) competition and alternative technologies; and (vii) Nanosphere's ability to obtain additional financing to support its operations. Additional risks are discussed in the Company's current filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.