Mr. Michael Iverson reports

Nanosphere Health Sciences Inc. has arranged a non-brokered private placement for gross proceeds of approximately $234,000 and debt settlements in the amount of approximately $688,916, through the issuance of 4,857,454 units at a price of 19 cents per unit. Each unit comprises a common share and one-half of a share purchase warrant, with a whole warrant exercisable to purchase a common share at a price of 35 cents for a period of 24 months, subject to accelerated expiry if, upon expiry of the four-month hold period, the common shares trade or close at a price of 60 cents or more for 10 consecutive trading days. No finder fees are payable in connection with the transactions.

About Nanosphere Health Sciences Inc.

Nanosphere Health Sciences is a nanobiotechnology firm specializing in proprietary delivery systems for therapeutic agents. The company's patented technology transforms its strategic partner's good products into great products, further differentiating them in their respective markets.

We seek Safe Harbor.