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JavaScript
alert("<TD><B><B>13COB251</B> - Desired String</B></TD>".replace(/(<[A-Z]+>)+13COB251(<\/[A-Z]>) - ([A-Za-z ]+)(<\/[A-Z]+>)+/gi, "$3"))
alert("<TD><B><B>13COB251</B> - Desired String</B></TD>".replace(/(<[A-Z]+>)+13COB251(<\/[A-Z]>) - ([A-Za-z ]+)(<\/[A-Z]+>)+/gi, "$3"))