SAN FRANCISCO and GENEVA, Sept. 2, 2014 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS), a biotechnology company focused on the development of diagnostic and therapeutic interventions for Alzheimer's disease, Parkinson's disease and orphan ophthalmological disorders, announced it has entered into a Master Services Agreement with ICON for global therapeutic and diagnostic clinical development services. Amarantus has submitted an initial work order to ICON for delivery of the Fit for Purpose Flow Cytometry Assay Validation of the company's flagship Alzheimer's blood diagnostic LymPro Test® at ICON's CLIA-certified Central Laboratory facility in Farmingdale, NY.
ICON offers central laboratory testing and biomarker services to the biopharmaceutical industry and has central laboratories and support staff in the United States, Ireland, Singapore, China and India. The Master Services Agreement covers all of ICON's laboratory sites worldwide.
"This agreement represents a major milestone for Amarantus, as we can now prepare LymPro for launch with a top-tier commercial development organization with the required CLIA capabilities as the backbone for launch in the United States and abroad," said Gerald E. Commissiong, President & CEO at Amarantus. "We are extremely pleased to be working with ICON, and we anticipate completion of the Fit for Purpose Flow Cytometry Assay Validation in the fourth quarter."
About Alzheimer's disease
It is estimated that over 5.4 million people in the United States suffer from Alzheimer's disease and over 500,000 patients are diagnosed annually, with nearly one in eight older Americans affected by the disease. Alzheimer's 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 and the total payments for care are estimated at over $200 billion annually, including $140 billion in cost to Medicare and Medicaid. It is estimated that the expenditures in the United States will exceed $1.4 trillion by 2050.
The Lymphocyte Proliferation Test (LymPro Test ®) is a diagnostic blood test that measures the ability of peripheral blood lymphocytes to withstand an external mitogenic stimulation inducing them to enter the cell cycle. It is hypothesized 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. LymPro is unique in the use of peripheral blood lymphocytes (PBLs) as a surrogate for neuronal cell function, suggesting a common immune-based relationship between PBLs and neurons in the brain. LymPro is currently enrolling LP-002, clinical trial to evaluate the feasibility of LymPro to correctly diagnose Alzheimer's disease. LymPro is being developed as a diagnostic blood test for Alzheimer's disease and is being evaluated as a test for Traumatic Brain injury and Chronic Traumatic Encephalopathy.
About Amarantus BioScience Holdings, Inc.
Amarantus BioScience Holdings (AMBS) is a biotechnology company developing treatments and diagnostics for diseases associated with neurodegeneration and protein misfolding-related apoptosis. AMBS has licensed Eltoprazine ("Eltoprazine"), a phase 2b ready small molecule indicated for Parkinson's Levodopa induced dyskinesia and Adult ADHD. AMBS has an exclusive worldwide license to the Lymphocyte Proliferation test ("LymPro Test(R)") for Alzheimer's disease and owns the intellectual property rights to a therapeutic protein known as Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF") and is developing MANF-based products as treatments for brain disorders. AMBS also owns intellectual property for the diagnosis of Parkinson's disease ("NuroPro") and the discovery of neurotrophic factors ("PhenoGuard"). Amarantus operations are located at Janssen Labs @QB3 in San Francisco, CA. For further information please visit www.Amarantus.com, or connect with the company on Facebook, LinkedIn, Twitter and Google+.
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 include, 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. CONTACT: Amarantus Bioscience Holdings, Inc. Aimee Boutcher, Investor Relations 408.737.2734 x 101 email@example.com Planet Communications Deanne Eagle, Media Contact (917) 837-5866
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