Applied NeuroSolutions and Nanosphere Sign Research Agreement; Companies Seek to Develop Next-Generation Tests for Alzheimer's Disease

BIOWIRE2K
VERNON HILLS, Ill. & NORTHBROOK, Ill.--(BUSINESS WIRE)--Feb. 13, 2006--Applied NeuroSolutions, Inc. (OTCBB:APNS), a Company focused on the development of an integrated product portfolio for the diagnosis and treatment of Alzheimer's disease, and Nanosphere, Inc., a nanotechnology-based molecular diagnostics company, today announced a research collaboration for the development of diagnostic tests for Alzheimer's disease.

Today there are no FDA-approved diagnostic tests to detect Alzheimer's disease; it can only be confirmed post-mortem. A definitive diagnostic test may lead to earlier detection of the disease and enable better medical intervention as well as help distinguish Alzheimer's from other forms of age-related dementia. A diagnostic test could also greatly aid research and development of new pharmaceuticals to treat the disease.

“Nanosphere has developed a groundbreaking platform for the detection of nucleic acids and proteins at extraordinary low concentrations, and we believe this collaboration could lead to better diagnostic tests for Alzheimer's disease, strengthening our product pipeline and potentially allowing us to utilize other bodily fluids for an Alzheimer's test”

This research program will apply Nanosphere's proprietary Biobarcode(TM) technology for ultra-sensitive protein detection to Applied NeuroSolutions' proprietary biomarkers, which have been shown to be 85 to 95 percent accurate in the detection of Alzheimer's disease. Ultra-sensitive detection of these markers has the potential to lead to the next generation of diagnostic tests for Alzheimer's disease.

"Nanosphere has developed a groundbreaking platform for the detection of nucleic acids and proteins at extraordinary low concentrations, and we believe this collaboration could lead to better diagnostic tests for Alzheimer's disease, strengthening our product pipeline and potentially allowing us to utilize other bodily fluids for an Alzheimer's test," said John DeBernardis, Ph.D., President and Chief Executive Officer of Applied NeuroSolutions.

"Applied NeuroSolutions has achieved significant progress with the development of its cerebrospinal fluid (CSF) test to detect p-tau, a biomarker for Alzheimer's disease," said William Moffitt, President and Chief Executive Officer of Nanosphere, Inc. "Using our proprietary technology could lead to the development of a more sensitive and specific test for future clinical use, potentially leading to the earlier detection of Alzheimer's disease."

About Applied NeuroSolutions

Applied NeuroSolutions, Inc. (OTCBB:APNS) is developing products to diagnose and treat Alzheimer's disease based on a novel hypothesis of AD pathology. In partnership with Dr. Peter Davies and a scientific team at Albert Einstein College of Medicine, Applied NeuroSolutions has developed a cerebrospinal fluid (CSF) test to detect Alzheimer's disease at a very early stage with 85%-95% accuracy in nearly 3,500 patient samples. There are approximately 2 million new patients annually worldwide who are candidates for an AD CSF diagnostic test, according to Datamonitor. The company is also developing a blood serum-based screening test, as well as a new class of therapeutics to treat AD. Alzheimer's disease currently afflicts over 4 million Americans, and the market for AD therapy is expected to grow to 21 million patients by 2010 in the seven major pharmaceutical markets (USA, France, Germany, Italy, Spain, U.K. and Japan) according to BioPortfolio, Ltd. There are currently no FDA-approved diagnostic tests to detect Alzheimer's disease. For more information, visit www.appliedneurosolutions.com.

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(TM) 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.us.

This press release contains forward-looking statements. Applied NeuroSolutions wishes to caution the readers of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, the risks associated with new product development and commercialization, clinical trials, intellectual property, regulatory approvals, potential competitive offerings, and access to capital. For further information, please visit the company's websites at www.appliedneurosolutions.com, and review the company's filings with the Securities and Exchange Commission.

Contacts

Applied NeuroSolutions, Inc.
John DeBernardis, Ph.D., 847-573-8000
or
Financial Dynamics
Julie Huang/Courtney Wen, 212-850-5600
apns@fd-us.com
or
Monarch Communications
Jeff Siegel, 516-569-4271
jeffs@monarchcomminc.com
or
Nanosphere, Inc.
Ken Bahk, Ph.D., 847-400-9000
kbahk@nanosphere.us
or
Schwartz Communications, Inc.
Erin Walsh, 781-684-0770
nanosphere@schwartz-pr.com

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