You can loop through the chars in the string and use Char.IsLetter to check whether the character is a letter.
Using the Where extension and the String constructor that takes an array of Char, the code would look as follows.
Dim letters = "MSE001243".Where(Function(c) Char.IsLetter(c)).ToArray()
Dim word = New String(letters)
Alternatively, you could use your pre-defined set of characters and use Contains instead.
Dim allowed = "abcde...ABCDE..."
Dim letters = "MSE001243".Where(Function(c) allowed.Contains(c)).ToArray()