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January 17th, 2008
Breakthrough Technologies For 2008
Abstract:
Independent advances in molecular biology, nanotechnology and genetics over the past decade began to converge this year, signaling some notable breakthroughs in medical diagnostics and treatment. Most notable among the successes was the recent IPO of molecular diagnostics company, Nanosphere (nasdaq: NSPH - news - people ). The company's Verigene system leverages nanotechnology to move genetic and protein testing to the point of care, thereby overcoming the time--and cost-intensive limitations of conventional polymerase chain reaction tests.
Nanosphere's current menu of diagnostic tests is limited. I am optimistic long term. Piper Jaffray (nyse: PJC - news - people ) initiated coverage in December with a BUY rating and $17 price target. Meanwhile, analysts for both Credit Suisse and Leerink Swann gave Nanosphere outperform status. The company is a pure-play in the global molecular diagnostics market that, in 2006, measured $2.3 billion according to Boston Biomedical Consultants. The market is projected to grow more than 15% over the next five years.
Source:
forbes.com
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