Power3's technology assigns a probability score that reflects how closely a patient's sample fits a biostatistical model for a neurological disease (NuroPro(R)), and indicates if the patient should be recommended for further follow-up by the clinician. These technologies would join Transgenomic's robust portfolio of molecular diagnostics including tests for mitochondrial disorders, oncology and hematology, molecular pathology and inherited diseases.
Dr.
A final agreement is subject to due diligence investigation and negotiation of a definitive exclusive license and/or acquisition agreement and approval by the Boards of Directors of both companies.
About NuroPro(R)
NuroPro(R) is a test designed to diagnose Alzheimer's, Parkinson's, and
About Transgenomic
Transgenomic is a global biotechnology company that provides unique products and services of automated high sensitivity genetic variation and mutation analysis. Their offerings include systems, products, discovery and laboratory testing services to the academic and medical research, clinical laboratory and pharmaceutical markets in the fields of Pharmacogenomics and personalized medicine. Specific offerings include WAVE(R) DHPLC Systems, related consumables and assay kits, Cytogenetics automated systems, and Transgenomic Pharmacogenomics and Reference Laboratory Services. Transgenomic Pharmacogenomics and Laboratory Services utilize their technology and expertise to provide a menu of mutation scanning tests for over 700 cancer-associated genes and more than 60 validated diagnostic tests to meet the needs of pharmaceutical and biotech companies, research and clinical laboratories, physicians and patients. For more information about the innovative systems, products and services offered by Transgenomic, please visit: http://www.transgenomic.com.
About Power3 Medical
Power3 Medical Products, Inc. (OTCBB: PWRM, http://www.power3medical.com),
is a leading bio-medical company engaged in the commercialization of
neurodegenerative disease and cancer biomarkers, pathways, and mechanisms of
diseases through the development of diagnostic tests and drug targets.
Power3's patent-pending technologies are being used to develop screening and
diagnostic tests for the early detection and prognosis of disease, identify
protein biomarkers, and drug targets. Diagnostic tests are targeted toward
markets with critical unmet needs in areas such as neurodegenerative disease
(NuroPro(R)). Power3 expects to complete phase II and III clinical validation
trials of its blood serum diagnostics for Alzheimer's disease, AD-NuroPro(R),
in the third quarter of 2009 followed by completion of filing with the FDA.
Power3 operates a state-of-the-art CLIA certified laboratory in
Transgenomic Cautionary Statements
Certain statements in this press release constitute "forward-looking statements" of Transgenomic within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements include, but are not limited to, those with respect to management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results, including the ability of the Company to grow its involvement in the diagnostic products and services markets. The known risks, uncertainties and other factors affecting these forward-looking statements are described from time to time in Transgenomic's reports to the Securities and Exchange Commission. Any change in such factors, risks and uncertainties may cause the actual results, events and performance to differ materially from those referred to in such statements. Accordingly, the company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all statements contained in this press release. All information in this press release is as of the date of the release and Transgenomic does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
SOURCE Transgenomic, Inc.