Power3 Medical Products, Inc. (OTC:PWRM)
Power3 Medical Products Inc. have signed a definitive agreement recently to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. PWRM plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into PWRM, with PWRM remaining as the surviving company in the merger.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
Alzheimer's is one, among the common sort of dementia, an over-all term regarding loss of memory and various other intellectual abilities serious enough to interfere with routine daily life. Alzheimer's condition is the reason for 50 to 70 percent of dementia cases.
Alzheimer's disease just isn't an everyday aspect of increasing age, although the most significant identified risk factor is increasing age, and the most of individuals with Alzheimer's are 65 and older. Alzheimer's is not just an illness connected with senior years. As much as 5 percent of people with the actual condition have early-onset Alzheimer's (also called younger-onset), which frequently appears in an individuals 40's or 50's.
PWRM, a bio-technology company, engages in the development and marketing of diagnostic tests in the fields of cancer, and neurodegenerative and neuromuscular diseases in the United States. PWRM’s products include BC-SeraPro, a proteomic blood serum test for the early detection of breast cancer; and NuroPro, a serum test for the detection of neurodegenerative diseases, such as amyotrophic lateral sclerosis, Alzheimer’s disease, and Parkinson’s disease. PWRM’s products analyze proteins and their mutations to assess an individual’s risk for developing disease later in life or a patient’s likelihood of responding to a particular drug; assess a patient’s risk of disease progression and disease recurrence; and measure a patient’s exposure to drug therapy. PWRM was formerly known as Surgical Safety Products, Inc. and changed its name to Power3 Medical Products, Inc. in September 2003. PWRM was founded in 1992 and is based in The Woodlands, Texas.
To learn more about PWRM visit: http://www.Power3Medical.com
Following the annual meeting of its stockholders, Vermillion, Inc. (Nasdaq:VRML) announced that its stockholders approved the reappointment of Gail S. Page, John F. Hamilton and Dr. William C. Wallen as directors of the Company. In addition, shareholders approved the 2010 Stock Incentive Plan and ratified Pricewaterhouse Coopers LLP as its independent registered public accounting firm.
Gail S. Page joined Vermillion in January 2004. She has been a director since 2005 and currently holds the position of Chief Executive Officer. In this role, she is responsible for leading Vermillion and its development and commercialization of the OVA1™ Test. From December 2005 to March 2009, Ms. Page was President and Chief Executive Officer. On March 27, 2009, Gail Page was asked to step down as President and Chief Executive Officer to conserve Vermillion's resources due to Vermillion's Chapter 11 bankruptcy filing. In connection with Vermillion's emergence from bankruptcy, however, Ms. Page was reappointed as Chief Executive Officer of Vermillion on February 1, 2010.
John F. Hamilton has been a member of the Board of Directors since April 2008. He previously served as Vice President and Chief Financial Officer of Depomed, Inc., from 1997 until his retirement in 2007.
Dr. William C. Wallen was appointed to the Board of Directors on February 1, 2010, and serves as Chairman of the Company's Nominating and Governance Committee. He is also a member of Vermillion's Audit Committee and Compensation Committee, and served on its Scientific Advisory Board from April 2006 until February 2010 when he joined the Board of Directors. Dr. Wallen served as the Senior Vice President and Chief Scientific Officer of IDEXX Laboratories, Inc. from September 2003 until his retirement from IDEXX on March 3, 2010.
The stockholders also approved the 2010 Stock Incentive Plan, which had been previously approved by the Board of Directors on February 8, 2010. The 2010 Plan will be administered by the Compensation Committee of the Board. The Company's employees, directors, and consultants are eligible to receive awards under the 2010 Plan. The 2010 Plan permits the granting of a variety of awards, including stock options, share appreciation rights, restricted shares, restricted share units, unrestricted shares, deferred share units, performance and cash-settled awards, and dividend equivalent rights. The Company is authorized to issue up to 1,322,983 shares of common stock, par value $0.001 per share under the 2010 Plan, subject to adjustment as provided in the Plan.
Vermillion, Inc. and its subsidiaries engage in the discovery, development, and commercialization of diagnostics tests that help physicians to diagnose and treat patients. The company develops novel diagnostic tests in the fields of oncology, hematology, cardiology, and women?s health with the initial focus on ovarian cancer. Its lead product includes the OVA1 ovarian tumor triage test (the ?OVA1 Test?), which addresses presurgical identification of women who are at high risk of having a malignant ovarian tumor. The company has collaborations with various academic and research institutions, including The Johns Hopkins University School of Medicine; The University of Texas M.D. Anderson Cancer Center; University College London; The University of Texas Medical Branch; The Katholieke Universiteit Leuven; Clinic of Gynecology and Clinic of Oncology, Rigshospitalet; Copenhagen University Hospital; The Ohio State University Research Foundation; Stanford University; and the University of Kentucky. It also has strategic alliance agreement with Quest Diagnostics Incorporated to develop and commercialize up to three diagnostic tests. Vermillion, Inc. primarily serves clinical reference laboratories. The company was formerly known as Ciphergen Biosystems, Inc. and changed its name to Vermillion, Inc. in August 2007. Vermillion, Inc. was founded in 1993 and is based in Fremont, California.
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