Power3 Medical Products, Inc. (OTC.BB:PWRM) released that it has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010. Completion of the merger is subject to customary closing conditions, including receipt by the parties of all necessary board and shareholder approvals and third party consents. There can be no assurance that these conditions will be met or that the merger will be completed.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig's disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases.
Alzheimer's declines ultimately. Alzheimer's is a progressing sickness, in which symptoms gradually worsen over a period of time. Continuing, memory loss is minor, but with late-stage Alzheimer's, people will not be able to hold on a conversation and respond to their natural environment. Alzheimer's disease is the 6th major cause of loss of life in the USA. Some people that have Alzheimer's live life an average of eight years after their indications come to be noticeable to other people, but survival can range from 3 to 20 years, based on maturity and various health conditions.
Through these processes, Power3 has developed a portfolio of products including BC-SeraPro™, a proteomic blood serum test for the early detection of breast cancer for which Power3 has completed Phase I clinical trials, and NuroPro®, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer's, Parkinson's and ALS diseases, for which Power3 is currently engaged in Phase II clinical trials. These tests are designed to analyze an individual's proteins to detect the presence of disease, a patient's disease progression, a patient's response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.
Bioanalytical Systems Inc. (Nasdaq:BASI) has hired on Dec 11, 2010 veteran Lafayette-area journalist Sue Scott as its Marketing Communications Manager. The addition is part of the life science company's effort to increase marketing and global business development efforts. Scott's primary role with BASi will be to help develop news releases, presentations, and other promotional items and activities for the company. BASi is a leader in drug development services and research instrumentation.
Bioanalytical Systems, Inc. provides contract development services and research equipment to pharmaceutical, medical research, and biotechnology companies and institutions worldwide.
Pacific Capital Bancorp (Nasdaq:PCBC) announced on Dec 13, 2010 the results of the semi-annual evaluation of the NASDAQ OMX ABA Community Bank Index, which will become effective prior to market open on Monday, December 20, 2010. These five securities will be added to the Index: Abington Bancorp, Inc. , First Interstate BancSystem, Inc., Pacific Capital Bancorp, Sterling Financial Corporation, and ViewPoint Financial Group, Inc.
Pacific Capital Bancorp operates as the holding company for Pacific Capital Bank, N.A., which provides a range of commercial and consumer banking services to households, professionals, and businesses primarily in the central coast of California.
Inhibitex Inc. (Nasdaq:INHX) reported on Dec 13, 2010 top-line safety and efficacy data from its Phase II clinical trial of FV-100, an oral antiviral compound being developed to treat herpes zoster, more commonly referred to as shingles. The study was the first clinical trial to assess the antiviral activity of FV-100, included 350 shingles patients and compared two once-daily doses of FV-100 (200 mg and 400 mg) to an active control, valacyclovir, one of the most commonly-used antiviral drugs to treat shingles.
Inhibitex, Inc., a biopharmaceutical company, focuses on the development of differentiated anti-infective products to prevent or treat serious infections, primarily shingles and chronic infections caused by hepatitis C virus (HCV).
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