Power3 Medical Products , And

July 7, 2010 - PRLog -- Power3 Medical Products, Inc.  business focus is the development of commercial applications for their proprietary technologies. The scientific team is on the leading edge of the proteomics industry through their discovery of protein footprints, pathways, and mechanisms of disease. These discoveries are being used to develop screening and diagnostic tests for the early detection and treatment of disease. The protein biomarkers, drug targets, and diagnostic tests are targeted toward markets with critical unmet needs in areas such as breast cancer, neurodegenerative disease and drug resistance in cancer. The Company is in a strong competitive position with over 190 identified biomarkers and a state-of-the-art proteomics laboratory.

Originally formed as a medical device company, Power3 Medical Products, Inc. has since transitioned to an innovative holding company strategically positioned to acquire specialty healthcare and biotechnology assets. On May 18, 2004, Power3 purchased the assets and intellectual properties of ProteEx of The Woodlands, TX. The company was founded in 2000 by two seasoned medical biotechnology veterans with extensive protein expertise and a successful pioneering track record. The company has established a state-of-the-art proteomics laboratory and developed a proprietary process for the discovery, analysis, and identification of proteins. The most significant accomplishments to date are the development and proof-of-concept for a non-invasive breast cancer test and a blood test for neurodegenerative diseases. In addition, the Company is discovering proteins and protein patterns associated with many diseases including, but not limited to, prostate cancer, breast cancer, Alzheimer’s disease, ALS (Lou Gehrig’s disease), Parkinson’s disease, and gastrointestinal disease.

Through years of expertise, Power3 has developed a structured approach to the discovery and development of protein footprints and biomarkers of human disease. The company’s Discovery Platform is a 7-step process that creates intellectual property through clinically focused, precise, and controlled analysis.

Power3 pursues an aggressive intellectual property strategy to protect its inventions and discoveries made on its own and with its collaborators. Power3 works with key physician scientists at major medical research and treatment centers. With access to decisive human clinical samples and superior trade secret proteomic methodologies, the Company provides solutions to pressing challenges in diagnosis and treatment of patients and has concluded research agreements, technology license agreements, and filed provisional and utility patents. Power3 is also adding additional layers of research and license agreements, patent filings, and trade secrets, as its technology and product portfolio develops.



Elite Pharmaceuticals, Inc.  today announced the Company will host a conference call with investors on Thursday, July 8, 2010 at 4:15 PM EDT to review quarterly and year-end 2010 results. Company executives will also conduct a question and answer session following their remarks.

Elite Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the research, development, manufacture, and license of orally administered controlled release drug delivery systems and products in the United States. It offers two daily allergy products, Lodrane 24 and Lodrane 24D. The company also develops a pipeline of five drug candidates, including ELI 154 and ELI 216 for various therapeutic areas, including pain management, allergy, and infection. Elite Pharmaceuticals has a strategic alliance agreement with Epic Pharma, LLC and Epic Investments, LLC. It also has a product development and commercialization agreement with IntelliPharmaCeutics Corp. for the co-development and commercialization of a controlled-released generic product; and a product collaboration agreement with The PharmaNetwork, LLC for the development of the generic product equivalent of a synthetic narcotic analgesic drug product. In addition, Elite Pharmaceuticals involves in the contract research and development on behalf of other pharmaceutical companies. The company was founded in 1984 and is based in Northvale, New Jersey.

Elite can develop and manufacture oral solid dosage forms such as tablets and capsules. Elite’s facility in Northvale, NJ includes administrative offices, R&D labs, analytical labs and manufacturing suites. The GMP manufacturing facility is DEA registered for research, development, and manufacturing. Elite is capable of taking a project from concept to commercialization.

The facility is equipped with fully validated equipment including a fluid bed dryer, blender, granular, coater, instrumented tablet press, capsule filler, and tablet coater. The facility is also supported by in-house analytical capabilities including HPLC, GC, IR, UV, automated dissolution systems and scanning electron microscope.


GlaxoSmithKline  and Genmab A/S announced today an amendment to the ofatumumab co-development and commercialization agreement. Under the terms of the amendment, GSK will take responsibility for developing ofatumumab in autoimmune indications whilst continuing to jointly develop ofatumumab with Genmab in oncology indications.

Genmab will receive an up front payment of GBP 90 million (DKK 815 million) from GSK. Genmab’s future funding commitment for the development of ofatumumab in oncology indications will be capped at a total of GBP 145 million (DKK 1,314 million), including a yearly spending cap of GBP 17 million (DKK 154 million) for each of the next six years starting with 2010. Future milestones due to Genmab under the oncology development program will be reduced by 50%. There will be no change in royalty tiers to Genmab in the oncology program.

GlaxoSmithKline is currently planning a number of Phase II clinical studies to take ofatumumab forward in autoimmune indications. “Autoimmune diseases represent an area of high unmet medical need. GSK’s growing biopharmaceutical capabilities coupled with our deep therapy area expertise will greatly facilitate the development of ofatumumab in these indications,” said Ian Tomlinson, Senior Vice President, Biopharmaceutical R&D, GSK. GSK will be solely responsible for funding the development in these indications. As a result, Genmab will forego development milestones for autoimmune indications and the first two sales milestones while retaining a double digit royalty on sales.

“The amendment to the ofatumumab agreement clearly highlights Genmab and GSK’s commitment to further develop this important product,” said Prof. Jan G.J. van de Winkel, Ph.D., Chief Executive Officer of Genmab. “We have a really excellent partner in GSK. Their flexibility has allowed us to not only ensure that we extract the best possible value from ofatumumab, but also strengthen the financial security of Genmab.”

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