Nanosphere blueprints $100 million IPO

Apparently undaunted by a sour stock market, molecular diagnostic player Nanosphere has signed up for a $100 million IPO. But at least one analyst says it all could be a bit of a ploy as the company positions itself to merge with a larger rival with deeper pockets. Nanosphere is looking to market a test to assess the way individuals metabolize warfarin as well as their risk of blood clots. Other molecular diagnostic tests are in the works. Lux Research analyst Mark Bunger tells Red Herring that the filing might prompt a giant in the field like Roche, Abbott or Becton, Dickinson to make a buyout proposal. Roche, for one, has been eager to shell out the big bucks to expand its presence in the field of personalized medicine.

- check out the report from Red Herring

Related Articles:
Nanosphere pockets $57M in VC. Report
A closer look at the biotech IPO. Report
M&A activity heats up as biotech IPOs struggle. Report
Biotech IPOs losing their attraction. Report