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Provista Life Sciences Consolidates Management of GW Medical Technologies, RCP Diagnostics, Biomarker Technologies

Posted on: Thursday, 7 December 2006, 18:01 CST

Provista Life Sciences LLC (PLS) announced today it will consolidate and oversee the management and operations of three biotech diagnostic development companies: GW Medical Technologies LLC, Biomarker Technologies LLC and RCP Diagnostics LLC. Under this arrangement, the companies will share PLS' management team, grant writing, fund-raising and research & development resources while continuing to advance their independent areas of applied clinical study.

"Provista Life Sciences is an umbrella organization that identifies and acquires the rights to promising medical diagnostics technologies and then unifies their respective operational and business development activities under a singular management company," says PLS CEO William Gartner.

Gartner stated, "The goals and objectives behind PLS are to consolidate the necessary scientific development and business management resources to effectively accelerate the commercialization and licensing of these three extremely promising diagnostics technologies."

"Our company is designed to introduce these new diagnostics into the domestic and global marketplace. It also allows us to take advantage of new technology opportunities as they present themselves and feed those into our diagnostic pipeline," says Donald Weber, vice president of Strategic Alliances and Licensing. "We are advancing diagnostic technologies that have the potential for early disease state recognition as well as therapeutic drug development and efficacy monitoring," says Weber.

About GW Medical Technologies LLC

GW Medical Technologies is focused on the development of a blood diagnostic for the detection of Alzheimer's disease (AD). The LymPro Test® aims to provide a diagnosis of AD in a matter of days at a tenth the cost of current methods. There is no single definitive test for this disease at this time. The initial clinical study for the LymPro Test demonstrated high sensitivity and specificity with clinical diagnosis and the potential to diagnose AD before the appearance of clinical symptoms. A second clinical trial will begin in the first quarter of 2007 after which, upon successful completion, the firm intends to begin market introduction as a laboratory-developed test under CLIA. For more information, visit the company's web site at www.gwmedtech.com.

About Biomarker Technologies LLC

Biomarker Technologies is focused on the commercialization of an early detection blood diagnostic for breast cancer. The BT Test™ aims to improve accuracy and convenience for patients. Current mammography is widely accepted for breast cancer screening but the technology has shortfalls. The BT Test™, used in conjunction with or separate from other imaging techniques, could eventually address more difficult to diagnose cases and expand patient outreach to encompass both those women for whom mammograms are not suitable and younger women who presently do not fall under current recommended guidelines for mammography. A second clinical trial is underway after which, upon successful completion, the firm intends as a laboratory-developed test under CLIA. For more information, visit the company's web site at www.biomarkertech.com.

About RCP Diagnostics LLC

RCP Diagnostics is developing a screening diagnostic for women's estrogen-related cancers: ovarian, uterine, cervical and breast. The RCP-Dx Test™ is in development and initial clinical trials have demonstrated its potential as a cost-effective blood test to detect and improve the accuracy of existing diagnosis of these devastating diseases. A second clinical trial is underway after which, upon successful completion, the firm intends as a laboratory-developed test under CLIA. For more information, visit the company's web site at www.rcpdiagnostics.com.

Provista Life Sciences' Background

Provista Life Sciences was established in 2006 as a biotechnology mezzanine development organization that provides the scientific and operating management resources to rapidly advance the development and introduction of novel diagnostics technologies into the domestic and global marketplace. For more information, visit the company's web site at www.provistals.com or call 602-224-5500.

Source: Business Wire

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