$AMBS News from 12/21 Form 8-K/A for AMARANTUS BIOSCIENCES, INC.
21-Dec-2012
Entry into a Material Definitive Agreement, Financial Statements an
Item 1.01 Entry into a Material Definitive Agreement.
On December 14, 2012, Amarantus Bioscience, Inc. (the "Company" or "Registrant") entered into an exclusive license agreement (the "License Agreement" attached hereto as Exhibit 10.01) with Memory Dx, LLC ("MDx") under which MDx granted to the Company an exclusive worldwide license to develop, manufacture, market, sell and import medical devices under MDx's intellectual property pertaining to Alzheimer's disease diagnosis (the "License").
Pursuant to the terms of the License Agreement, Registrant will issue 2,000,000 shares of its common stock to MDx and will provide MDx with a royalty equal to 9% of the net proceeds of all sales resulting from the License. Further, MDx and Registrant agreed to complete a validation study regarding a blood test for the detection of Alzheimer's disease. To prepare the laboratory for this study, Registrant shall pay to MDx $15,000 upon the execution of the License Agreement, an additional $15,000 within 30 days following the execution of the License Agreement, and $20,000 within 60 days following the execution of the License Agreement. Registrant will also assist MDx in its fund raising strategy, and, upon successful completion of the validation study, provide MDx $1,000,000, payable in cash or Company's stock, as defined in the License Agreement. The Company may sell, sub-license or assign the License Agreement and has an option to terminate the License Agreement upon 30 days written notice if MDx is unable to meet its obligations regarding the validation study.
The above summary of the material terms of the License Agreement does not purport to be complete and provides only a general description of the License Agreement and, thus, should be read together with, and is qualified in its entirety by reference to, the entire License Agreement, which has been filed as Exhibit 10.01 hereto, and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
10.01 Exclusive License Agreement, effective December 14th, 2012, by
and between Amarantus Bioscience and Memory Dx, LLC
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