A year after closing on a $30 million offering, Nanosphere said yesterday that it’s hired an investment bank to examine the proverbial "strategic alternatives," including a possible sale of the molecular diagnostics technology business.
Nanosphere makes molecular diagnostics devices, including the Verigene system, which uses gold nanoparticles to detect pathogens and drug-resistant marker by mapping bacterial genomes.
Almost exactly a year ago, the Northbrook, Ill.-based company put up a $1.75-per-share offering that brought in $30.2 million. Yesterday Nanosphere said it hired Jefferies LLC as its financial advisor "to assist it in the development and evaluation of a full range of potential strategic alternatives," according to a press release.
"There can be no assurance that Nanosphere will enter into any strategic transaction in the future. Nanosphere does not plan to disclose or comment on developments regarding its strategic alternatives review process until further disclosure is deemed necessary or appropriate," according to the release.