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Posted On: 10/11/2012 9:00:39 AM
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Posted By: lucyinthesky

AMBS News



Amarantus BioSciences Acquires Option to License LymPro Alzheimer's Diagnostic Blood Test



2012-10-11 07:00 ET - News Release


 




SUNNYVALE, Calif., Oct. 11, 2012 /PRNewswire/ -- Amarantus BioSciences, Inc. (OTCQB: AMBS), a biotechnology company developing new treatments and diagnostics for Parkinson's disease and Traumatic Brain Injury centred on its proprietary anti-apoptotis therapeutic protein MANF


, today announced that it has acquired an exclusive option to license the LymPro Alzheimer's Diagnostic Blood Test from Memory Dx, LLC (MDx), formerly known as Provista Life Sciences, LLC. Under the terms of the agreement, Amarantus agreed to pay 500,000 restricted shares of its common stock to MDx for exclusive negotiating rights through December 31st, 2012 to the LymPro blood test.

"Coming off our recent success in securing the license for the NuroPro Parkinson's Diagnostic Blood Test, the LymPro Alzheimer's Diagnostic Blood Test option agreement will give Amarantus additional leverage over the next few months in negotiations as we look to partner our diagnostic assets," said Gerald E. Commissiong, President & CEO of Amarantus. "The market opportunity for a minimally-invasive Alzheimer's blood test capable of detecting the disease early on is tremendous given recent Phase III clinical data produced by Pfizer, Johnson & Johnson and Eli Lilly all suggesting that patients with mild cases of Alzheimer's disease are the best sub-population of clinical candidates for beta-amyloid targeting disease-modifying treatments, a potential blockbuster target for each of these companies. We expect that NuroPro and LymPro will create a compelling investment package for potential partners."




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