Copyright 2005 PR Newswire Association LLC.
All Rights Reserved.
PR Newswire US
March 28, 2005 Monday 03:54 PM GMT
LENGTH: 1227 words
DATELINE: THE WOODLANDS, Texas March 28

THE WOODLANDS, Texas, March 28 /PRNewswire-FirstCall/ -- Power3 Medical Products, Inc. (OTC:PWRM) (BULLETIN BOARD: PWRM) a leading proteomics company, announced that it has entered into a collaborative research agreement with New Horizons Diagnostics Corporation for the development of antibody based diagnostic tests for neurodegenerative disease utilizing the Company's identified protein biomarkers. New Horizons Diagnostics is a leading developer and marketer of easy-to-use rapid diagnostic tests and instrumentation for applications in the clinical, environmental and food industries.

Power3 has discovered a method employing a series of tests for the differential diagnosis of neurodegenerative diseases utilizing blood serum, which was co-developed by neurologist Dr. Stan Appel, Chair of Neurology at the Methodist Hospital Neurological Institute and Professor of Neurology at Baylor College of Medicine in Houston, Texas and his team and Dr. Ira L. Goldknopf, a pioneer of proteomic discovery and Power3 Medical's Chief Scientific Officer and his team in The Woodlands, Texas.

Power3 intends to develop a series of tests, which involve monitoring the concentration of panels of proteins in the blood. Power3 has discovered unique groups of biomarkers whose profiles are relatively sensitive and specific in distinguishing patients with Amyotrophic Lateral Sclerosis (ALS), Alzheimer's disease (AD) and Parkinson's disease from each other, as well as from normal patients and patients with other neuromuscular and neurological disorders. In total, Power3 has identified 34 biomarkers for neurodegenerative diseases.

Dr. Goldknopf stated, "With New Horizons Diagnostics, we are now positioned to take our biomarkers into the high throughput immunodiagnostic test market. Their highly sensitive tests and instrument platforms are uniquely suited for doctors offices to accelerate the delivery of results and early treatment."

New Horizons Diagnostics will utilize specifically tailored monoclonal and polyclonal antibodies to the biomarkers, which will be incorporated into immunoassays. Once the assays are available, New Horizons Diagnostics will then develop and validate diagnostic tests on their platform, specifically designed to detect and discriminate among the neurodegenerative diseases.

Lawrence Loomis, President of New Horizons Diagnostics stated, "New Horizons Diagnostics has been successfully involved in test platform development before, but none of these projects are as important or timely as the collaboration with Power3. With an aging population and new therapies available, early detection is paramount. We are excited to have been chosen to be part of this elite team to make a new age of diagnostics available."

Steven Rash, Chairman and Chief Executive Officer of Power3, commented, "The development of an antibody based, high throughput test is a crucial step towards the commercialization of our proteomic tests. New Horizons Diagnostics' experience and innovative technology have enabled them to become a leader in assay development. We believe that by using our identified protein biomarkers for detection of neurodegenerative diseases coupled with New Horizons Diagnostics' assay expertise and platform, we can collectively develop a sensitive commercial test that will address critical unmet needs in diagnostic medicine. Our strategy is to create licensing opportunities with companies in the diagnostic sector and we look forward to a mutually beneficial collaboration."

Alzheimer's disease is the most common form of dementia affecting over 4 million Americans. AD affects one in ten people age 65, two in ten people age 75, and four in ten people age 85 and older. More than one million people in the U.S. have Parkinson's disease and it affects about one in 100 Americans over the age of 60. On a smaller scale, but equally devastating, 30,000 Americans are afflicted with ALS, with 5,000 new cases annually.