ProteEx Acquired by Power3

The Woodlands, Texas-based start-up ProteEx has been acquired by Power3 Medical Products in exchange for 15 million shares of Power3 common stock, Power3 said today. ProteEx, previously known as Advanced Bio/Chem, develops biomarkers for breast cancer.

Ira Goldknopf, president and chief operating officer of ProteEx, will continue to develop ProteEx’s technology and will now serve as chief scientific officer of the company. The company will continue its R&D activities at Power3’s new laboratory facilities.

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