Transgenomic, Inc. (OTCBB: TBIO) and Power3 Medical Products, Inc. (OTCBB: PWRM) today announced that, following mediation through the offices of the United States District Court for the District of Nebraska, all pre-existing litigations and disputes between the companies have been resolved and terminated, effective immediately.

The dispute related to a license agreement for Power3 Medical's neurodegenerative biomarker platform technology. With its termination all scientific and commercial agreements between Transgenomic and Power3 are also terminated, all commercial rights subject to the agreement revert to Power3 and both companies become subject to terms of the mediation proceedings which include, among other provisions, an equity-based payment to Transgenomic.

About Transgenomic, Inc.

Transgenomic, Inc. (www.transgenomic.com) is a global biotechnology company advancing personalized medicine in cancer and inherited diseases through its proprietary molecular technologies and world-class clinical and research services. The Company has three complementary business divisions: Transgenomic Pharmacogenomic Services is a contract research laboratory that specializes in supporting all phases of pre-clinical and clinical trials for oncology drugs in development. Transgenomic Clinical Laboratories specializes in molecular diagnostics for cardiology, neurology, mitochondrial disorders, and oncology. Transgenomic Diagnostic Tools produces equipment, reagents, and other consumables that empower clinical and research applications in molecular testing and cytogenetics. Transgenomic believes there is significant opportunity for continued growth across all three businesses by leveraging their synergistic capabilities, technologies, and expertise. The Company actively develops and acquires new technology and other intellectual property that strengthen its leadership in personalized medicine.

About Power3 Medical Products, Inc.

Power3 Medical Products, Inc. is a leading biotechnology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig's disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases. Through these processes, Power3 has developed a portfolio of products including BC-SeraPro?, a proteomic blood serum test for the early detection of breast cancer for which it has completed Phase I clinical trials, and NuroPro®, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer's, Parkinson's, and ALS diseases, for which it is currently engaged in Phase II clinical trials. These tests are designed to analyze an individual's proteins to detect the presence of disease, a patient's disease progression, a patient's response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.

For Transgenomic:
Argot Partners
David Pitts, 212-600-1902
david@argotpartners.com