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Amarantus Biosciences and RBCC Outline Terms for NuroPro Parkinson's Blood Test Joint Venture
Date:11/9/2012

NOKOMIS, Fla., and SUNNYVALE, Calif., Nov. 9, 2012 /PRNewswire/ -- Rainbow BioSciences, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), and Amarantus BioSciences, Inc. (OTCQB: AMBS), a biotechnology company developing new disease-modifying treatments and diagnostics for Parkinson's disease and Traumatic Brain Injury, have finalized the framework of their proposed joint venture (JV) and expect to execute material definitive agreements within 30 days, subject to closing documents.

The JV's first priority will be to advance Amarantus' NuroPro Parkinson's Diagnostic Blood Test ("NuroPro") towards commercialization. NuroPro works by identifying differentiated levels of proteins and peptides in the blood of patients who have Parkinson's disease, versus those who do not.

Under the terms of the pending agreement, RBCC will invest $150,000 over a 6 month period in various funding tranches to re-establish the NuroPro 2D Gel platform and re-analyze samples from the previous Phase 1 clinical trial. Thereafter, the JV will further fund the Phase 2 clinical trial. RBCC will be repaid for their investment out of proceeds from the sales generated by NuroPro and will share revenues once the initial investment is repaid. RBCC has received a commitment from private, outside sources to provide the capital necessary to fund the JV.

NuroPro has completed a Phase 1 human clinical trial, and the JV will initiate a Phase 2 clinical study upon successfully repeating the Phase 1 trial. Upon completing Phase 2, RBCC and Amarantus expect NuroPro to begin generating revenue through sales under a Clinical Laboratory Improvement Amendment (CLIA) certification.

"We've identified valuable upside in NuroPro, and we expect this project to begin paying for itself within a relatively short period of time," said Amarantus President & CEO Gerald Commissiong. "The ability to advance NuroPro in a manner that will simultaneously generate revenue while bol
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SOURCE Amarantus BioSciences, Inc.
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