Amarantus BioSciences, Inc. Modifies Business Structure to Support Product Development Strategy
4/5/2013 9:51:57 AM
SUNNYVALE, Calif.--(BUSINESS WIRE)--Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis, today announced it will adopt a holding company structure with separate business units in order to more effectively develop its various assets. Reflecting the change in structure, the corporation will change its name to Amarantus Bioscience Holdings, Inc. Initially, the Company will form two business units: Amarantus Therapeutics, centered on its patented therapeutic protein Mesencephalic Astrocyte Neurotrophic Factor (MANF), and Amarantus Diagnostics, focused on developing the LymPro Blood Test for Alzheimer’s disease and the NuroPro Blood Test for Parkinson’s disease. Currently, MANF is in preclinical testing as a potentially disease-modifying treatment for Parkinson’s disease, and the two diagnostic tests are being prepared for Phase 2 studies. The Company will also evaluate the acquisition/in-licensure of clinical-stage drug candidate to complement MANF within the Amarantus Therapeutics subsidiary, and may evaluate additional strategic significantly undervalued opportunities over time using its deep industry knowledge and connections.