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Nanosphere Names Dr. Peter G. Schultz to Board of Directors

Posted on: Tuesday, 27 September 2005, 12:00 CDT

Nanosphere, Inc., a nanotechnology-based molecular diagnostics company, today announced Peter G. Schultz, Ph.D., has joined its board of directors. Dr. Schultz's widely recognized scientific knowledge will enable him to provide strategic guidance to Nanosphere as it prepares to introduce the first system that enables ultra-sensitive detection of DNA, RNA and proteins on a single platform.

Dr. Schultz is internationally known as a pioneer in organic chemistry and biomedical research. He is on the faculty at The Scripps Research Institute in La Jolla, Calif., where he holds the Scripps Family Chair as a professor of chemistry, and is director of the Genomics Institute of the Novartis Research Foundation, also in La Jolla.

He has developed many of the tools and techniques used today in the field of combinatorial chemistry, which merges the tools and principles of chemistry with the molecules and processes of living cells to create molecules with new properties and functions. Dr. Schultz is a founder of Affymax Research Institute, Symyx Technologies, Ambrx, Syrrx Inc., Kalypsys, Phenomix, and Ilypsa. He is a member of the National Academy of Sciences and the Institute of Medicine of the National Academy of Sciences.

"Dr. Schultz brings to Nanosphere's board a clear record of success in commercializing products based on molecular mechanisms of complex biological and chemical systems," said William Moffitt, president and chief executive officer, Nanosphere. "We believe his insight will be invaluable as we develop our nanoparticle-based systems and take them to a broad market. Dr. Schultz offers a uniquely valuable perspective on moving technologies into production for global life sciences and medical organizations and will help Nanosphere deliver significant customer and shareholder value."

Dr. Schultz said: "Nanosphere possesses a rare mix of truly cutting-edge technology, high-caliber management and clear market need for its product. I'm pleased to join the company's board at an exciting time in Nanosphere's development, as it moves from early customer use of its core technology to broader deployment in the coming months."

Dr. Schultz received bachelor's and doctoral degrees from the California Institute of Technology. He completed his postdoctoral fellowship at the Massachusetts Institute of Technology and has served on the faculty of the University of California at Berkeley.

About Nanosphere, Inc.

Nanosphere is a life sciences company applying proprietary nanotechnology to create new standards in medical care and public safety. With a universal Verigene(R) product platform for the detection of nucleic acids and proteins at extraordinarily low concentrations, Nanosphere is rapidly advancing the development of assays for genomic and proteomic research, clinical laboratories and point-of-care markets. The privately held company is based in Northbrook, Illinois. Additional information is available at www.nanosphere-inc.com.

Source: Business Wire

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