Power3 Medical Products, Inc. Launches BC-Serapro, The First Proteomics-Based Blood Serum Diagnostic Test For Breast Cancer
Houston, TX - Power3 Medical Products, Inc. , has signed its first distribution agreement to provide BC-SeraPro , its breast cancer blood serum diagnostic test, in twelve Middle Eastern countries before the end of 2007. The agreement with Financial Advisory House's Medical Equipment Suppliers division (FAH), a Bahrain-based medical instrument distribution company, allows for the marketing and distribution of the BC-SeraPro breast cancer diagnostic test in: Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Saudi Arabia, Oman, Qatar, Syria, United Arab Emirates, and Yemen.
BC-SeraPro is the first proteomics-based blood serum diagnostic test to be used for the early screening and diagnosis of breast cancer. As part of the agreement, FAH will market and distribute the BC-SeraPro diagnostic test to clinics and physicians in these Middle Eastern countries, with the tests analyzed in Power3's Houston-based, CLIA (Clinical Laboratory Improvement Amendment) certified proteomic laboratory.
"The agreement with Financial Advisory House is an important milestone in our development and transition from a research and development company to a diagnostic company with commercially viable products," said Steven Rash, Chairman and Chief Executive Officer of Power3. "It is especially exciting for us to announce our initial distribution agreement and product launch during Breast Cancer Awareness Month."
Mr. Rash continued: "We selected the Middle East as our initial market because the healthcare systems in these particular countries are open to providing a test that offers new and innovative technologies for earlier detection of breast cancer. These markets also have a particular need for additional methods of early detection due to their high incidence rates of breast cancer. We expect that the launch of the BC-SeraPro diagnostic test will be a major catalyst in making 2008 a significant year for our company. We are seeking other distributors for the BC-SeraPro and are currently in discussions with several international and domestic partners as we implement our strategic plan to expand our geographical distribution of the test and other diagnostic tests currently in the pipeline."
Mr. Ebrahim Al-Lengawi, Chairman and Chief Executive Officer of Financial Advisory House, said: "Our medical division was founded to acquire the latest available technologies in the world to benefit the citizens of Bahrain. Through Financial Advisory House's network of affiliates in other Middle Eastern countries, we are able to distribute new technologies, like the BC-SeraPro diagnostic test, in partnership with our affiliates.
"The Power3 technology and the results of the BC-SeraPro diagnostic test are what attracted us to approach Power3 Medical to obtain distribution rights to this test in the Middle East. Due to the high incidence rates of breast cancer in Middle Eastern countries we have a particular need for additional methods of early detection. With this innovative technology, breast cancer patients and physicians will have a powerful new tool for use in the earlier detection and treatment of breast cancer in combination with other existing technologies."
In addition, Power3 expects to announce preliminary results of the product launch during the first quarter of 2008 and plans on publishing peer reviewed articles about BC-SeraPro later in the year.
SOURCE: Power3 Medical Products, Inc.