SAN FRANCISCO and GENEVA, May 6, 2014 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS), a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related to cell cycle dysregulation, endoplasmic reticulum stress, neurodegeneration and apoptosis, today announced that it has opened an office in Geneva, Switzerland, in preparation for the establishment of a Swiss affiliate. The main purpose of this office is to facilitate interaction with the European biotechnology, pharmaceutical Research and Development and investment communities.
"As we continue to implement our strategy of building a world class organization, the expansion of the Company into the European market represents an important corporate milestone for the Company," said Gerald E. Commissiong, President & CEO of Amarantus. "Amarantus is operating in a global environment, where our diagnostic and therapeutic product candidates will have impact around the world. Opening an office in Switzerland positions the Company in proximity to great innovation, as evidenced by neuroscience- and life science focused programs and initiatives such as the Human Brain Project (HBP) and Campus Biotech. HBP is part of the Future and Emerging Technologies Flagship Program, a new initiative launched by the European Commission, and it was recently announced that the HBP research will move to the Campus Biotech site in Geneva. The mission of Campus Biotech is to become a center of excellence and focal point for scientists and entrepreneurs in the life science sector. We believe Geneva and surrounding area will become an important center for innovation in the CNS space in the years ahead, and we are excited about our prospects going forward as a transatlantic company."
Concurrently, the Company has appointed Mr. Mark Wakefield as Head of Clinical Development across Amarantus' diagnostic and therapeutic divisions. Mr. Wakefield brings over 15 years of experience, of which the last 8 years focused on establishing and implementing development strategies and operations as Head of Clinical Development Operations at Addex Pharma SA (Switzerland).
"Mr. Wakefield brings significant experience in the Parkinson's disease Levadopa-Induced Dyskinesia ("PD-LID") area, having successfully conducted clinical development in this disease space," said Dr. David Lowe, member of the Amarantus Board of Directors. "As we prepare to interact with US and EU regulatory agencies regarding the proposed design of a Phase2/3 PD LID clinical trial for Eltoprazine, we believe it is important for Amarantus to have a presence in the emerging landscape of CNS biotechnology development in the Geneva area, and believe the opportunity is ripe for an international company such as Amarantus to gain exposure to the Swiss and international research and investment communities as we experience significant growth in the months and years ahead."
About Amarantus
Amarantus is a biotechnology company developing treatments and diagnostics for diseases associated with neurodegeneration and protein misfolding-related apoptosis. The Company has licensed Eltoprazine ("Eltoprazine"), a phase 2b ready indication for Parkinson's Levodopa induced dyskinesia and Adult ADHD. The Company 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. Amarantus is a Founding Member of the Coalition for Concussion Treatment (#C4CT), a movement initiated in collaboration with Brewer Sports International seeking to raise awareness of new treatments in development for concussions and nervous-system disorders. The Company also owns intellectual property for the diagnosis of Parkinson's disease ("NuroPro") and the discovery of neurotrophic factors ("PhenoGuard"). 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.
Investor/Media Contacts Aimee Boutcher, Director of Investor Relations Amarantus Bioscience Holdings, Inc. 408-737-2734 x 101
