2005 - Power3 Medical Files Provisional Patent Application for Biomarker-based Method to Diagnose Alzheimer's Disease
THE WOODLANDS, Texas, Sept. 7 /PRNewswire-FirstCall/ -- Power3 Medical Products, Inc. (OTC: PWRM.PK) announced today that it has filed a provisional patent application with the United States Patent and Trademark Office for the Company's blood-based Alzheimer's disease (AD) specific diagnostic test. The patent application is being filed in conjunction with major research institutions in the Houston area, with Power3 having an exclusive license to commercialize the technology involved. This application is one of 13 provisional patent applications, 9 utility patents pending, and 1 issued patent, owned and/or licensed by Power3. The application is in support of the Company's planned third Pre-IDE application to be filed with the United States Food and Drug Administration (FDA) to seek their guidance on aspects of the approval process for the diagnostic tests being commercialized by the Company.
"The purpose of this blood serum test is to diagnose whether a patient has AD and distinguish that from geriatric patients who have no signs of dementia and from patients who have AD like symptoms but do not have AD," says Ira L. Goldknopf, Chief Scientific Officer of Power3 Medical. "The test is being developed for use by internists, psychiatrists, and general neurologists, and for AD specialists as well."
"Alzheimer's disease is difficult to diagnose, particularly in the early stages, because currently there are no objective blood serum tests available for the early diagnosis of AD," said Steven Rash, chairman and chief executive officer. "Our objective is to obtain patent protection for Power3's intellectual property rights used in this test, measuring changes among groups of biomarkers in blood serum. We believe that patent protection for the specific diagnosis of Alzheimer's disease will prove to be a strong asset in the Company's ever growing intellectual property portfolio, and thereby, serve to enhance shareholder value."
Power3's test comprises collecting a blood sample from a patient, separating the proteins present in the sample, analyzing a panel of protein biomarkers using proteomic techniques, and determining whether or not the patient has AD based on the quantity of the biomarkers in the patient's sample combined with biostatistical analysis. The Company also intends to extend the technology to high throughput immunodiagnostics suitable for clinical laboratories and doctors' offices.
The Power3 intellectual property portfolio includes other pending patents, provisional patent applications, and research and license agreements with leading medical research institutions in the areas of cancer, drug resistance, metabolic syndrome, and neurodegenerative disease.
About Power3 Medical Products
Power3 Medical Products, power3medical.com , is a leading proteomics company engaged in the discovery of protein footprints, pathways, and mechanisms of diseases. The Company's patent-pending technologies are being used to develop screening and diagnostic tests for the early detection and treatment of disease. The Company's identified protein biomarkers, drug targets, and diagnostic tests are targeted toward markets with critical unmet needs in areas such as breast cancer and neurodegenerative disease. The Company operates a state-of-the-art proteomics laboratory in The Woodlands, Texas.
This press release contains "forward-looking" statements, including statements related to the outcome of certain actions being taken by the Company and the anticipated timing and nature of filings with the Securities and Exchange Commission. Any statements in this press release, which are not statements of historical fact, may be deemed to be forward-looking statements. Words such as "will," "expects," "anticipates," "plans," and similar expressions are intended to identify these forward-looking statements. There are a number of important factors and uncertainties that could cause results to differ materially from those indicated by these forward-looking statements, including risks inherent in research and development activities; the ability to raise sufficient capital and obtain financing for the development activities; uncertainties associated with regulatory approvals; as well as other risks detailed from time to time in Power3's reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended December 31, 2003, and its reports on Form 10-QSB and Form 8-K. Power3 assumes no obligation to update forward-looking statements as a result of new information, future events or otherwise.
Contacts:
Steven B. Rash
Chairman and CEO
Power3 Medical Products, Inc.
T: 281-466-1600
SOURCE Power3 Medical Products, Inc.
Web Site: power3medical.com
Key(s): proteomics Power3
omniomix.com |
