Will offer proteomic tests to identify Alzheimer’s and Parkinson’s disease

OMAHA, Neb. and HOUSTON, Dec. 2 — Transgenomic, Inc. (OTC Bulletin Board: TBIO – News) and Power3 Medical Products, Inc. (OTC Bulletin Board: PWRM – News) today announced that Transgenomic has signed a letter of intent to acquire exclusive rights for Power3 Medical’s Neurodegenerative Biomarkers, which include NuroPro®, a proposed diagnostic for Alzheimer’s and Parkinson’s disease. Transgenomic plans to offer NuroPro® in its CLIA-certified molecular diagnostics laboratory as well as support the tests with development resources.

Power3’s technology assigns a probability score that reflects how closely a patient’s sample fits a biostatistical model for a neurological disease (NuroPro®), 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.

Craig Tuttle, CEO of Transgenomic, said, “Physicians face a common challenge when treating patients with these devastating diseases — how to diagnose them earlier and more accurately so their patients can receive treatment sooner and receive greater benefit from treatment. In this respect, the proteomic tests for detection of early disease developed by Power3 are very attractive; particularly when combined with our company’s demonstrated strength in robust and sensitive genomics tests for detection of increased disease susceptibility. Moreover, as we are already calling on neurologists with our current lab sales organization, these new assays will add significant depth to our neurological sales portfolio.”

Dr. Ira L. Goldknopf, President and Chief Scientific Officer of Power3 Medical Products, Inc., said, “It is critical to have the ability to diagnose Alzheimer’s disease more accurately, earlier, and faster than currently available. If physicians can intervene earlier, before the patients suffer debilitation and irreversible damage, the drugs currently used to slow disease progression can be more effective. In addition, the ability to detect Alzheimer’s disease processes early and monitor disease progression in the patients’ blood will ultimately lead to more effective and personalized treatments.”

Helen R. Park, Power3’s CEO, said, “This potential agreement will propel the NuroPro® diagnostic test to the next level affording the ability to commercialize a physician sought after test for Alzheimer’s and Parkinson’s Diseases. It is a win/win for both companies.”

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.