Emerald Organic Products to License Therapeutics Portfolio from Amarantus Bioscience Holdings
Portfolio includes treatments for Alzheimer's disease, ADHD, Parkinson's disease, vision loss and severe burns Amarantus to receive Emerald Organics Preferred Stock for the exclusive worldwide license Emerald Organic CEO Ian Parker: "Emerald Organic will bring breakthrough therapies - and hope - to burn victims and those suffering from Alzheimer's and Parkinson's."
NEW YORK, Oct. 25, 2019 /PRNewswire/ --
Emerald Organic Products, Inc. and Amarantus Bioscience Holdings today announced a principal agreement for the exclusive, worldwide license of several cutting-edge treatments, including Phase 3-ready therapies for ADHD and skin regeneration.
Under the terms of the agreement, Emerald Organic (OTC: EMOR), a health science company that is a market leader in CBD products, will license the therapeutic portfolio from Amarantus Holdings (OTC: AMBS) in exchange for Emerald preferred stock and on-going, sales-based royalties. The preferred stock will convert into 50 million shares of common stock on April 30, 2022, with a non-stock, accelerated royalty based on sales if the common shares are below $100 million at the time of conversion.
The transaction, which was led by boutique investment bank Advisory Group Equity Services, Ltd. (dba RHK Capital), is expected to become effective in the fourth quarter of 2019 and is subject to customary conditions and the receipt of consents from certain Amarantus stakeholders. Key Amarantus personnel will move over to incubate Emerald's emerging life sciences division.
"Emerald believes in the powerful healing ability of the body and has smartly invested in products and companies that have life-changing potential," said Ian Parker, CEO of Emerald Organic Products. "Amarantus' revolutionary therapies do exactly that – bringing hope and relief to long-suffering victims. Together, we see this acquisition as the first step toward combining consumer cannabis-based products and FDA-regulated drugs to improve outcomes for patients."
Specifically, Emerald Organic is licensing the following therapies:
Eltoprazine: Emerald Organic intends to bring to market Phase 3-ready eltoprazine for the treatment of ADHD. The treatment of ADHD works by activating specific serotonin receptors in the brain, leading to a calming effect that has resulted in a positive Phase 2 trial result.
Skin Regeneration: Emerald Organic will also bring to market a Phase 3-ready Engineered Skin Substitute, a life-saving treatment for pediatric burn victims that could be used in a large number of skin replacement procedures.
MANF: Emerald will also develop a treatment for neurodegeneration in the eyes. The unique neurotrophic factor repairs damaged neuronal cells and serves as a potential solution for retinal-and dopaminergic cell death. MANF may serve as a treatment for Glaucoma, macular degeneration, Parkinson's disease and the orphan diseases Wolfram's Syndrome and retinitis pigmentosa.
Amarantus CEO Gerald Commissiong said, "This opportunity allows us to leverage Emerald Organic's platform to bring our critical therapeutics to market. Not only will we drive value to our investors and shareholders, but we will deliver meaningful treatments and hope for patients. We are proud to begin working with Emerald Organic to continue to develop these pioneering medical treatments."
https://investorshangout.com/recentnews/EMOR#ixzz64YrB1rkf
Much Aloha
Portfolio includes treatments for Alzheimer's disease, ADHD, Parkinson's disease, vision loss and severe burns Amarantus to receive Emerald Organics Preferred Stock for the exclusive worldwide license Emerald Organic CEO Ian Parker: "Emerald Organic will bring breakthrough therapies - and hope - to burn victims and those suffering from Alzheimer's and Parkinson's."
NEW YORK, Oct. 25, 2019 /PRNewswire/ --
Emerald Organic Products, Inc. and Amarantus Bioscience Holdings today announced a principal agreement for the exclusive, worldwide license of several cutting-edge treatments, including Phase 3-ready therapies for ADHD and skin regeneration.
Under the terms of the agreement, Emerald Organic (OTC: EMOR), a health science company that is a market leader in CBD products, will license the therapeutic portfolio from Amarantus Holdings (OTC: AMBS) in exchange for Emerald preferred stock and on-going, sales-based royalties. The preferred stock will convert into 50 million shares of common stock on April 30, 2022, with a non-stock, accelerated royalty based on sales if the common shares are below $100 million at the time of conversion.
The transaction, which was led by boutique investment bank Advisory Group Equity Services, Ltd. (dba RHK Capital), is expected to become effective in the fourth quarter of 2019 and is subject to customary conditions and the receipt of consents from certain Amarantus stakeholders. Key Amarantus personnel will move over to incubate Emerald's emerging life sciences division.
"Emerald believes in the powerful healing ability of the body and has smartly invested in products and companies that have life-changing potential," said Ian Parker, CEO of Emerald Organic Products. "Amarantus' revolutionary therapies do exactly that – bringing hope and relief to long-suffering victims. Together, we see this acquisition as the first step toward combining consumer cannabis-based products and FDA-regulated drugs to improve outcomes for patients."
Specifically, Emerald Organic is licensing the following therapies:
Eltoprazine: Emerald Organic intends to bring to market Phase 3-ready eltoprazine for the treatment of ADHD. The treatment of ADHD works by activating specific serotonin receptors in the brain, leading to a calming effect that has resulted in a positive Phase 2 trial result.
Skin Regeneration: Emerald Organic will also bring to market a Phase 3-ready Engineered Skin Substitute, a life-saving treatment for pediatric burn victims that could be used in a large number of skin replacement procedures.
MANF: Emerald will also develop a treatment for neurodegeneration in the eyes. The unique neurotrophic factor repairs damaged neuronal cells and serves as a potential solution for retinal-and dopaminergic cell death. MANF may serve as a treatment for Glaucoma, macular degeneration, Parkinson's disease and the orphan diseases Wolfram's Syndrome and retinitis pigmentosa.
Amarantus CEO Gerald Commissiong said, "This opportunity allows us to leverage Emerald Organic's platform to bring our critical therapeutics to market. Not only will we drive value to our investors and shareholders, but we will deliver meaningful treatments and hope for patients. We are proud to begin working with Emerald Organic to continue to develop these pioneering medical treatments."
https://investorshangout.com/recentnews/EMOR#ixzz64YrB1rkf
Much Aloha
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