SUNNYVALE, CA--(Marketwire - June 02, 2011) - Amarantus BioSciences, Inc. (OTCBB: JKIK), a biotechnology company developing first-in-class, disease-modifying treatments that address an underlying form of cell death known as apoptosis, today issued a corporate overview addressing the Company's development strategies as a newly listed public company to its new and current shareholders. Amarantus recently became public through an alternative listing process and will begin trading next week through a listing on the OTC Bulletin Board Exchange following a 25 for 1 forward split of its common stock. The Company will send out further information, once the new trading symbol and name change from Jumpkicks, Inc. to Amarantus BioSciences, Inc. become effective, following the completion of the forward split.
Since its founding, Amarantus has focused on the discovery and development of therapeutic proteins with the potential to address critically important biological pathways involved in the treatment of human diseases. Amarantus' lead product candidate is a first-in-class, naturally-occurring therapeutic protein known as MANF, which has broad potential applications in the treatment of devastating human diseases related to protein misfolding and apoptosis.
Amarantus' most advanced program is focused on developing MANF as a disease-modifying therapy for Parkinson's disease. This program is currently funded by the Michael J. Fox Foundation for Parkinson's Research through a research grant received in 2010. Amarantus will seek to initiate Phase I clinical studies in Parkinson's disease in 2012.
Since MANF's discovery in 2002, multiple peer-reviewed scientific papers published in leading academic journals from independent research groups in Japan, China, Finland and in the U.S. indicate that MANF has significant therapeutic potential in a wide range of indications, including neurological and cardiovascular disorders.
In 2010, Amarantus was granted a portfolio of patents throughout Europe covering the discovery of MANF. These issued patents' claims include compositions of matter and methods of use for MANF and related peptides. This patent complements Amarantus' existing portfolio of pending patent applications on MANF in the U.S. and abroad.
"The discovery process behind MANF provides an innovative and systematic approach to the identification of proteins with therapeutic potential for a myriad of human disorders," said John W. Commissiong, Amarantus' Scientific Founder who discovered MANF, and former Head of the Neurotrophic Factors Group at the National Institute of Neurological Disorders and Stroke at the NIH, where Amarantus' PhenoGuard technologies were first developed. "Our technologies will allow us to systematically discover additional new proteins with the potential to alter the underlying pathology of the diseases we will target."
MANF was initially discovered from the first of Amarantus' libraries of proprietary cells, known as PhenoGuard. These cells are the foundation of the Company's proprietary PhenoGuard Protein Discovery Engine that enables the discovery of novel therapeutic proteins with biological activity for specific neurological conditions, allowing for a more predictable, targeted discovery process.
Among the Company's goals, Amarantus intends to advance therapies that provide patients with treatment options that help curb the soaring healthcare costs associated with chronic illnesses. In an important step toward this goal, the Company recently announced a worldwide partnership agreement with Generex Biotechnology, a company focused on drug delivery technologies. Amarantus will leverage Generex' RapidMist™ buccal drug delivery technologies as a means of safely and conveniently delivering Amarantus' novel proteins for certain applications.
Generex and Amarantus will conduct joint research and development efforts in diabetes mellitus, for which Generex will fund up to $5 million in related costs. As part of the overall collaboration, Generex retains rights to license up to three products developed from the Companies' combined research efforts in diabetes. The collaboration will be advanced through Amarantus' wholly-owned subsidiary, Amarantus MA, based at the Pioneer Valley Life Sciences Institute, which is focused on MANF-based diabetes research.
Amarantus will pay Generex a fee of $10 million in Amarantus common stock as consideration for licensing Generex' technology. On June 1st, Generex announced that it intends to dividend a portion of these shares to its stockholders, pending certain conditions. Commenting on the Generex transaction and dividend announcement, Martin D. Cleary, Chairman and CEO of Amarantus said: "The combination of Amarantus' therapies and Generex' delivery system has enormous potential to create effective alternatives for people living with chronic disorders. We welcome the opportunity to educate Generex shareholders about Amarantus in the coming months."
About Amarantus BioSciences, Inc.
Amarantus BioSciences, Inc. is engaged in the research and development of first-in-class disease-modifying treatments that address the underlying cause of cell death, known as apoptosis, associated with a wide range of diseases. The Company's most advanced product candidate, MANF, is a therapeutic protein indicated for the treatment of Parkinson's disease and Myocardial Infarction. Currently incubating at the Parkinson's Institute in Sunnyvale, CA, Amarantus BioSciences is the recipient of a research grant from The Michael J. Fox Foundation for Parkinson's Research. See www.Amarantus.com.
About Generex Biotechnology Corporation
Generex is engaged in the research, development, and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist™ device. The Company's buccal insulin spray product, Generex Oral-lyn™ is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases. Antigen Express has pioneered the use of specific CD4+ T helper stimulation in immunotherapy. One of its platform technologies relies on inhibition of expression of the Ii protein. Antigen Express scientists, and others, have shown clearly that suppression of expression of the Ii protein in cancer cells allows for potent stimulation of T helper cells and prevents the further growth of cancer cells. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
Forward-Looking Safe-Harbor Statement:
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, statements about our plans, strategies, business prospects, and the ongoing and future development of disease modifying treatments. These forward-looking statements may be identified by the use of terms and phrases such as "anticipates," "believes," "can," "could," "estimates," "expects," "forecasts," "intends," "may," "plans," "projects," "targets," "will," and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as planned research and development and the regulatory approval, marketing, and sale of planned future and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.
These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a) the risk that our product candidate MANF, which is still under clinical development, may not obtain regulatory approval or be successfully commercialized; (b) the risk that extensive regulatory requirements may limit the scope of future sales or impede successful product commercialization even if we obtain regulatory approval for our product candidate; (c) the risk that we may be unable to arrange for the successful manufacture and commercial supply of our planned product; (d) the risk that MANF, if approved and brought to market, may not be accepted by the medical community; (e) the risk that we may not be successful in undertaking the steps currently planned in order to increase our liquidity and capital resources, resulting in inadequate funding for our planned research and development activities; and (f) other risks and uncertainties described in our filings with the Securities and Exchange Commission.
Neither management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC's web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.
