Navigation Links
Amarantus BioScience Secures an Additional $1.4 Million in Financing Commitments

SUNNYVALE, Calif., Jan. 31, 2013 /PRNewswire/ -- Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with the neurodegeneration and apoptosis centered around its patented therapeutic protein MANF, today announced it has secured an additional $1.4 million of financing commitments through an amendment of the initial Convertible Note with Dominion Capital.  The original $600,000 note, dated November 14, 2012, was amended to a face value of $2,000,000 before deducting placement agent fees and other offering expenses.  Proceeds will be used to provide funding for Amarantus' lead asset Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF"), the advancement of the Company's diagnostic platforms, and for general working capital. 

"With our recently reported positive efficacy data on MANF, and our newly acquired diagnostic platforms, this additional funding positions Amarantus to advance these assets for the potential treatment and diagnosis of Parkinson's disease and other apoptosis-related disorders," said Gerald E. Commissiong , President and CEO of Amarantus.  "This also provides us the opportunity to explore additional indications where our product candidates may be beneficial." 

In November 2012, Amarantus issued a Convertible Promissory Note to Dominion Capital, LLC in the principal amount of $600,000. On January 28, 2013, the note was amended to increase the principal amount of the note to $2,000,000.  The Note bears interest at the rate of ten percent (10%) per annum, is convertible into common stock at $0.10 per share, and is pre-payable at the company's option at any time. The financing commitments will be realized by Amarantus under the note in six separate tranches of $200,000 to $250,000, subject to certain milestone achievements. Dominion has agreed to a "no shorting" provision.

"Amarantus has made tremendous progress since our initial investment last year.  We believe in the assets and the direction of the Company, and are pleased we can contribute to the Company's future growth," added Mikhail Gurevich , Managing Partner, Dominion Capital, LLC.

About Amarantus BioScience, Inc.

Amarantus BioScience, 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, Ischemic Heart Disease 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. The Company also owns intellectual property and licenses for the diagnostis of Parkinson's disease and Alzheimer's disease. For further information please visit

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.


Amarantus Bioscience, Inc.

Investor/Media Contact:
IR Sense, LLC
Remy Bernarda
(408) 737-2734 x109

SOURCE Amarantus Bioscience, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Amarantus BioSciences to Present at the New York Biotechnology Association (NYBA) 21st Annual Meeting on May 2nd, 2012
2. Amarantus BioSciences Announces MANF Demonstrates Superiority over GDNF in Neurorestoration Behavioural Animal Model of Parkinsons Disease
3. Amarantus BioSciences Appoints Amgen Co-Founder Dr. Joseph Rubinfeld to Advisory Board
4. Amarantus Biosciences and RBCC Outline Terms for NuroPro Parkinsons Blood Test Joint Venture
5. Amarantus BioSciences Appoints Dr. Robert J. Zimmerman as Product Development Advisor
6. Pressure BioSciences, Inc. and Target Discovery, Inc. Expand Strategic License Agreement and Collaboration Supporting TDIs Planned Offering of Personalized Medicine Clinical Diagnostic Services
7. Neurocrine Biosciences Announces Conference Call and Webcast to Present First Quarter 2012 Financial Results
8. Neurocrine Biosciences Reports First Quarter 2012 Results
9. Pressure BioSciences, Inc. to Discuss First Quarter 2012 Financial Results And Provide Business Update
10. Ambit Biosciences and Teva Announce Clearance of an Investigational New Drug (IND) Application for CEP-32496, A Novel BRAF(V600E) Inhibitor
11. Neurocrine Biosciences to Present at the Jefferies 2012 Global Healthcare Conference
Post Your Comments:
(Date:6/24/2016)... N.J. , June 24, 2016  Collagen ... the design, development and manufacturing of collagen and ... regeneration announced today that Bill Messer ... and Marketing to further leverage the growing portfolio ... medical devices. Bill joins the Collagen ...
(Date:6/24/2016)... Mass. , June 24, 2016   ... Spaulding Rehabilitation Network,s Dean Center for Tick ... Physical Medicine and Rehabilitation, MIT Hacking Medicine, University ... for Innovation, today announced the five finalists of ... for Lyme disease.  More than 100 scientists, clinicians, ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... addition of the "Structural Electronics 2015-2025: Applications, ... In-Mold Electronics, Smart ... Integrated Photovoltaics Structural electronics involves ... as load-bearing, protective structures, replacing dumb structures such ...
Breaking Medicine Technology:
(Date:6/26/2016)... PLAINSBORO, N.J. (PRWEB) , ... June 27, 2016 , ... ... same sources, yet in many ways they remain in the eye of the beholder, ... Oncology (EBO), a publication of The American Journal of Managed Care. For the full ...
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... ... fertility once they have been diagnosed with endometriosis. These women need a treatment ... also require a comprehensive approach that can help for preservation of fertility and ...
(Date:6/25/2016)... ... 25, 2016 , ... First Choice Emergency Room , the largest network ... the Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased ... location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/24/2016)... ... 24, 2016 , ... A recent article published June 14 on ... article goes on to state that individuals are now more comfortable seeking to undergo ... such as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Global law firm ... 2016 Legal Elite. The attorneys chosen by their peers for this recognition are considered ... Seven Greenberg Traurig Shareholders received special honors as members of this year’s Legal Elite ...
Breaking Medicine News(10 mins):