Navigation Links
Amarantus BioSciences Secures $1.1 Million in Financing
Date:11/14/2012

SUNNYVALE, Calif., Nov. 14, 2012 /PRNewswire/ -- Amarantus BioSciences, Inc. (OTCQB: AMBS), a biotechnology company developing new treatments and diagnostics for Parkinson's disease and Traumatic Brain Injury centered on its proprietary anti-apoptosis therapeutic protein MANF, today announced it has secured over $1.1 million in funding through two separate transactions.  Proceeds will be used to provide funding for the Company's lead asset, Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF"), reconcile certain of Amarantus' outstanding payables, and for general working capital. 

"Amarantus is at a pivotal stage in our corporate development, and these transactions provide us with capital to advance our research collaborations, continue our efforts to progress MANF into clinical trials, as well as strengthen the Company's balance sheet, making the Company more attractive to the investment community," said Gerald E. Commissiong, President and CEO of Amarantus.  "Interim data for MANF showed promising results in behavioural animal models of Parkinson's disease, and we expect final data to be available in December. With this financing, the Company can make more substantial progress with our product candidates, allowing management to market the MANF opportunity to potential partners as well as look at creative financing structures to ensure MANF and NuroPro's further development. We remain focused on moving our Parkinson's assets towards clinical trials to explore the potential benefits for patients, and we will also begin to explore additional applications for the MANF technology which may address larger markets, and/or address smaller orphan drug markets that have more rapid paths to commercialization."

Amarantus issued a Convertible Promissory Note to an undisclosed institutional investor (the "Investor") in the principal amount of $600,000. The Note bears interest at the rate of ten percent (10%) per annum until paid in full and can convert into shares of the Company's common stock at a price of $0.10 per share, subject to certain provisions.  The note is not convertible into common shares for 6 months, and the Company has the option to pay the note in cash at its discretion at any time. Monies will be paid to Amarantus under the note in four separate tranches of $150,000 over a 6 week period, subject to certain milestones. The Investor agreed to "no shorting" provisions.

Amarantus entered into an unrelated equity financing arrangement with a separate long-only institutional fund (the "Fund") that assists public companies in financing operations and expansion.  The Company settled over $500,000 in accounts payable, which the fund had acquired from various creditors of the Company, in exchange for shares of common stock. The transaction substantially reduced the Company's liabilities, including a portion of its outstanding accounts payable balance. The Fund agreed to "no shorting" provisions.

About Amarantus BioSciences, Inc.

Amarantus BioSciences, Inc. is a development-stage biotechnology company founded in January 2008.  The Company has a focus on developing certain biologics surrounding the intellectual property and proprietary technologies it owns to treat and/or diagnose Parkinson's disease, Traumatic Brain Injury and other human diseases.  The Company 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. The Company also 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. For further information please visit www.Amarantus.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the possible benefits of MANF therapeutic applications and/or advantages presented by Amarantus' PhenoGuard technology, as well as statements about expectations, plans and prospects of the development of Amarantus' new product candidates. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the risks that the anticipated benefits of the therapeutic drug candidates or discovery platforms, as well as the risks, uncertainties and assumptions relating to the development of Amarantus' new product candidates, including those identified under "Risk Factors" in Amarantus' most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in other filings Amarantus periodically makes with the SEC. Actual results may differ materially from those contemplated by these forward-looking statements Amarantus does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this presentation. This press release does not represent an offer to buy or sell securities.

Amarantus BioSciences, Inc.
(408) 737-2734
pr@amarantus.com

Investor/Media Contact:
IR Sense, LLC
Remy Bernarda
415-203-6386
remy@irsense.com


'/>"/>
SOURCE Amarantus BioSciences, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Correction: Amarantus BioSciences Updates Shareholders on Timing of Michael J. Fox Foundation Grant Data Release
2. Amarantus BioSciences Updates Shareholders on Timing of Michael J. Fox Foundation Grant Data Release
3. Amarantus BioSciences Corporate Overview to be Webcast Live Today from OneMedForum 2012 Conference in NYC
4. TheStockRadio.com Interviews Amarantus BioSciences President & CEO Gerald E. Commissiong
5. Amarantus BioSciences Featured in BioWorld Today, Brewer Sports Symposium and Opportunist Magazine
6. Amarantus BioSciences to Present at the 2012 National Investment Banking Association Conference in New Orleans
7. IntelliCell BioSciences Announces It Will Present and Run Workshop at the 10th Annual Commercialization of Regenerative Medicine in London
8. Sangamo BioSciences Announces Presentation At The Lazard Capital Markets Healthcare Conference
9. Neurocrine Biosciences Reports Third Quarter 2012 Results
10. IntelliCell BioSciences Announces Myron Z. Holubiak Joins the IntelliCell BioSciences Board of Directors
11. AMRI Announces Strategic Contract with Knopp Biosciences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... 2016 , ... While the majority of commercial spectrophotometers and fluorometers use the ... models are higher end machines that use the more unconventional z-dimension of 20mm. ... the bottom of the cuvette holder. , FireflySci has developed several Agilent flow ...
(Date:6/23/2016)... Wausau, WI (PRWEB) , ... June 23, 2016 ... ... probiotic supplements, is pleased to announce the launch of their brand, UP4™ Probiotics, ... supplements for over 35 years, is proud to add Target to its list ...
(Date:6/23/2016)... , June 23, 2016 A person commits a ... crime scene to track the criminal down. An ... Food and Drug Administration (FDA) uses DNA evidence to track ... Sound far-fetched? It,s not. The FDA has increasingly ... support investigations of foodborne illnesses. Put as simply as possible, ...
(Date:6/23/2016)... Calif. , June 23, 2016  The Prostate Cancer Foundation ... increasingly precise treatments and faster cures for prostate cancer. Members of the Class ... across 15 countries. Read More About the Class of ... ... ...
Breaking Biology Technology:
(Date:6/2/2016)... The Department of Transport Management (DOTM) ... million US Dollar project, for the , Supply ... Enrolment, and IT Infrastructure , to ... implementation of Identity Management Solutions. Numerous renowned international vendors participated ... was selected for the most compliant and innovative ...
(Date:5/20/2016)... 20, 2016  VoiceIt is excited to announce ... By working together, VoiceIt and VoicePass ... and VoicePass take slightly different approaches to voice ... security and usability. ... new partnership. "This marketing and technology ...
(Date:4/28/2016)... and BANGALORE, India , April 28, ... Systems, a product subsidiary of Infosys (NYSE: INFY ... announced a global partnership that will provide end ... use mobile banking and payment services.      (Logo: ... key innovation area for financial services, but it also plays ...
Breaking Biology News(10 mins):