Amarantus
Re-acquires Rights to
Alzheimer's Blood
Diagnostic LymPro
Test
- Company also re-acquires remaining rights to
MS diagnostic MSPrecise
San Francisco, CA and New York,
NY -- April 5, 2018 -- InvestorsHub NewsWire --
Amarantus
Bioscience Holdings, Inc. (OTC
Pink:
AMBS) (the "Company"
or AMBS),
a
US-based
JLABS-alumnus biotechnology
holding
company
developing
first-in-class orphan neurologic, regenerative medicine and
ophthalmic therapies through its
subsidiaries, today announced
that it has
re-acquired all rights held by Avant
Diagnostics,
Inc. (OTC
Pink: AVDX) to neurology-focused diagnostic
tests LymPro
Test, MSPrecise and NuroPro. Under the terms of the
agreement, Amarantus agreed to cancel all liabilities
(approximately
$722,500) Avant owed to Amarantus and
issue Avant 1,000,000 shares of Amarantus common
stock. Avant agreed to issue to
Amarantus an additional 30,092,073 Avant common shares
in satisfaction of
certain
amounts owed under
the original acquisition agreement. Amarantus intends to assign
these diagnostic assets to a new subsidiary
that
aligns with Amarantus' holding company business
model.
"The science underpinning the
LymPro Test for Alzheimer's disease
has continued to
mature during the intervening period of our ownership
by virtue of
the improved
understanding of the immune system's involvement
in
the underlying
mechanisms of cell death in Alzheimer's
disease,"
said Gerald Commissiong, President & CEO of Amarantus. "Going
forward, we believe there is an opportunity to move the neurology
assets via a focused subsidiary and key additions to
management with
experience to take it forward. We continue to be excited by
Avant's Theralink platform and its potential to
dramatically improve cancer prescription accuracy, both in
terms of positive and negative predictive value, using its industry
leading proprietary Reverse-Phase Protein Array (RPPA) platform
that evaluates phospho-protein activation in tumor
tissue."
About Alzheimer's
Disease
According to the Alzheimer's
Association, it is estimated that over 5.4 million people in the
United States suffer from Alzheimer's disease. Over 500,000
patients are diagnosed annually, with nearly one-in-eight older
Americans affected by the disease. Alzheimer's disease is the third
leading cause of death in the United States. The cost of unpaid
care in the United States is estimated at over $210 billion
annually. Total payments for care are estimated at over $200
billion annually, including $140 billion in cost to Medicare and
Medicaid. Alzheimer's expenditures in the United States are
expected to exceed $1.2 trillion by 2050. There is no cure or
effective treatment for Alzheimer's disease. Worldwide, about 35.6
million individuals have the disease and, according to the World
Health Organization, the number will double every 20 years to 115.4
million people with Alzheimer's by 2050.
About LymPro
Test
The Lymphocyte Proliferation
Test (LymPro Test) is a diagnostic blood test
that determines the ability of peripheral blood lymphocytes
(PBLs)
and monocytes to
withstand an exogenous mitogenic stimulation that induces them to
enter the cell cycle. It is believed that certain diseases, most
notably Alzheimer's disease, are the result of compromised cellular
machinery that leads to aberrant cell cycle re-entry by neurons
which then leads to apoptosis. LymPro is unique in the
use of peripheral
blood lymphocytes as a surrogate for neuronal cell function,
suggesting a common relationship between PBLs and neurons in the
brain.
About MSPrecise
MSPrecise is a proprietary
next-generation DNA sequencing (NGS) assay for the identification
of patients with relapsing-remitting multiple sclerosis (RRMS) at
first clinical presentation. MSPrecise utilizes next-generation
sequencing to measure DNA mutations found in rearranged
immunoglobulin genes in immune cells initially isolated from
cerebrospinal fluid. MSPrecise would augment the current standard
of care for the diagnosis of multiple sclerosis by providing a more
accurate assessment of a patient's immune response to a challenge
within the central nervous system. This novel method of measuring
changes in adaptive human immunity may also be able to discern
individuals whose disease is more progressive and requires more
aggressive treatment.
About Amarantus Bioscience
Holdings, Inc.
Amarantus Bioscience
Holdings (AMBS), a JLABS alumnus
company, is
a biotechnology company developing treatments and diagnostics for
diseases in the areas of neurology, regenerative medicine and
orphan diseases through its subsidiaries. AMBS' wholly-owned
subsidiary Elto Pharma, Inc. has development rights to
eltoprazine, a Phase 2b-ready small molecule indicated for
Parkinson's disease levodopa-induced dyskinesia, Alzheimer's
aggression and adult attention deficit hyperactivity disorder,
commonly known as ADHD. AMBS acquired the rights to the Engineered
Skin Substitute program, a regenerative medicine-based approach for
treating severe burns with full-thickness autologous skin grown in
tissue culture that is being pursued by AMBS' wholly-owned
subsidiary Cutanogen Corporation. AMBS' wholly-owned subsidiary
MANF Therapeutics, Inc. owns key intellectual property rights and
licenses from a number of prominent universities related to the
development of the therapeutic protein known as mesencephalic
astrocyte-derived neurotrophic factor ("MANF"). MANF
Therapeutics, Inc. is developing MANF-based
products as treatments for brain and ophthalmic disorders. MANF was
discovered by the Company's Chief Scientific Officer John
Commissiong, PhD. Dr. Commissiong discovered MANF from AMBS'
proprietary discovery engine PhenoGuard.
For further information please
visit www.Amarantus.com, or connect with the
Amarantus on
Facebook, LinkedIn, Twitter and Google+.
About Elto Pharma, Inc.
Elto Pharma, Inc. is
developing Eltoprazine, an oral small molecule 5HT1A/1B partial
agonist in clinical development for the treatment of Parkinson's
disease levodopa-induced dyskinesia (PD-LID), Alzheimer's aggression
and adult
attention deficit hyperactivity disorder (adult ADHD). Eltoprazine has been
evaluated in over 680 human subjects to date, and has a
well-established safety profile, with statistically
significant efficacy results across multiple central nervous system
indications. Eltoprazine has received orphan
drug designation (ODD) from the US FDA for the treatment of
PD-LID.
Eltoprazine was originally
developed by Solvay (now Abbvie) in aggression-related
indications. The eltoprazine program was
out-licensed to PsychoGenics, Inc. (PGI). PGI licensed eltoprazine to
Amarantus in
2014 after a successful proof-of-concept
trial in
PD-LID.
In April 2017, Amarantus
incorporated the wholly-owned subsidiary Elto Pharma, Inc. for the
purpose of raising capital to finance the further clinical development of
Eltoprazine.
About Cutanogen
Corporation
Engineered Skin Substitute
(ESS) is a tissue-engineered skin prepared from autologous
(patient's own) skin cells. It is a combination of cultured
epithelium and a collagen-dermal fibroblast implant that produces a
skin substitute which contains both epidermal and dermal
components. This model has been shown in preclinical studies to
generate a functional skin barrier. Most importantly, because ESS
is composed of a patient's own cells, it is less likely to be
rejected by the immune system of the patient, unlike with porcine
or cadaver grafts in which immune system rejection is a
possibility. A non-GMP version ESS has been used in
investigator-initiated and compassionate-use clinical settings in
over 150 human subjects, primarily pediatric patients, for the
treatment of severe burns up to 95% of total body surface area. The
non-GMP version has also been used in the treatment of two patients
with Giant Congenital Melanocytic Nevi (GCMN).
In July 2015, Amarantus'
acquired Lonza Walkersville's wholly-owned subsidiary Cutanogen
Corporation, the sole licensor of intellectual property rights to
ESS from Cincinnati's Shriner's Hospital for Children and the
University of Cincinnati. Cutanogen Corporation is a wholly-owned
subsidiary of Amarantus.
About MANF Therapeutics,
Inc.
MANF
(mesencephalic-astrocyte-derived neurotrophic factor) is believed
to have broad potential because it is a naturally-occurring protein
produced by the body to reduce/prevent apoptosis (cell death) in
response to injury or disease, via the unfolded protein response.
By administering exogenously produced MANF the body, Amarantus is
seeking to use a regenerative medicine approach to assist the body
with higher quantities of MANF when needed. Amarantus is the
frontrunner and primary holder of intellectual property around
MANF, and is initially focusing on the development of MANF-based
protein therapeutics.
In April 2017, Amarantus
incorporated the wholly-owned subsidiary MANF Therapeutics, Inc. to
focus on the preclinical and clinical development of MANF. MANF's
lead indication is retinitis pigmentosa, and additional indications
including Parkinson's disease, diabetes and Wolfram's syndrome are
envisioned. Further applications for MANF may include Alzheimer's
disease, traumatic brain injury, myocardial infarction,
antibiotic-induced ototoxicity and certain other orphan
diseases.
Forward-Looking
Statements
Certain statements, other than
purely historical information, including estimates, projections,
statements relating to our business plans, objectives, and expected
operating results, and the assumptions upon which those statements
are based, are forward-looking statements. These forward-looking
statements generally are identified by the words "believes,"
"project," "expects," "anticipates," "estimates," "intends,"
"strategy," "plan," "may," "will," "would," "will be," "will
continue," "will likely result," and similar expressions.
Forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties which may
cause actual results to differ materially from the forward-looking
statements. Our ability to predict results or the actual effect of
future plans or strategies is inherently uncertain. Factors which
could have a material adverse effect on our operations and future
prospects on a consolidated basis includes but are not limited to: changes in
economic conditions, legislative/regulatory changes, availability
of capital, interest rates, competition, and generally accepted
accounting principles. These risks and uncertainties should also be
considered in evaluating forward-looking statements and undue
reliance should not be placed on such statements.
Amarantus
Investor and Media Contact:
Ascendant Partners,
LLC
Richard Galterio
+1-732-410-9810
rich@ascendantpartnersllc.com
Source: Amarantus Bioscience
Holdings, Inc.