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Transgenomic to Buy Rights to Power3's Neurodegenerative Disease Tests

NEW YORK (GenomeWeb News) - Transgenomic said today that it has signed a letter of intent to buy the rights to Power3 Medical Products’ neurodegenerative biomarkers, including NuroPro, a blood serum-based diagnostic for Alzheimer’s, Parkinson’s, and Lou Gehrig’s disease.
Transgenomic plans to offer NuroPro through its CLIA-certified molecular diagnostics lab.
The Power3 technology assigns a probability score that links a patient’s sample to a biostatistical model for neurodegenerative disease, and it indicates if the patient should then consult a physician.
Transgenomic’s molecular diagnostic portfolio currently includes tests for mitochondrial disorders, oncology and hematology, molecular pathology and inherited diseases.
The firm said that a final agreement is dependent on the companies negotiating a definitive exclusive license agreement, acquisition agreement, or both, and by winning approval from both companies’ boards of directors.
Transgenomic CEO Craig Tuttle said in a statement that Power3’s tests for early detection of these diseases may be particularly useful when used in combination with Transgenomics' detection and disease susceptibility tests.

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