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Power3, Biosite to Develop Protein Biomarker-based Diagnostics

NEW YORK, July 12 (GenomeWeb News) - Proteomic tool shop Power3 Medical Products will give Biosite access to certain of its protein biomarker antibody targets and intellectual property as part of an alliance to evaluate and develop diagnostic tests, the companies said today.

Terms of the agreement call for Biosite to develop and commercialize all potential immunodiagnostic tests based on the Power3 biomarker antibody targets it licensed from the company.

Power3's IP portfolio includes pending patents, provisional patent applications, and research and license agreements with medical research institutions in the areas of cancer, drug resistance, neurodegenerative disease, and metabolic syndrome, the company said.

The financial terms of the agreement were not disclosed.

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