Transgenomic, a biotechnology company, and Power3 Medical Products, a bio-medical company, have signed a definitive collaboration and exclusive licensing agreement for the rights to Power3 Medical’s neurodegenerative biomarkers.
The agreement grants Transgenomic exclusive rights in the US and certain international markets to neurodegenerative biomarkers from Power3 Medical, including NuroPro, a proposed diagnostic for Alzheimer’s and Parkinson’s diseases based on Power3’s proteomics platform. Transgenomic will pay Power3 Medical an up-front license fee, milestone payments, royalties, and will also provide development funding and resources.
The NuroPro tests will be offered by Transgenomic in its Clinical Laboratory Improvement Amendments-certified molecular diagnostics laboratory and will add to Transgenomic’s portfolio of molecular diagnostics used for mitochondrial disorders, oncology, hematology molecular pathology, and inherited diseases.
NuroPro was developed by Power3 Medical to monitor the concentration of a panel of blood serum protein biomarkers, using biostatistical analysis to assign a probability score reflecting the likelihood a patient may have a neurodegenerative disease.
Power3 Medical is currently conducting prospective clinical validation studies of NuroPro in Alzheimer’s and Parkinson’s diseases, with results indicating sensitivities and specificities of 85-95% for both disorders.
Helen Park, CEO of Power3 Medical, said: This new licensing agreement provides Transgenomic with the support to offer the NuroPro test for Alzheimer’s and Parkinson’s diseases, addressing critical unmet needs in two large markets.