Navigation Links
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 bolstering our MANF program by allowing our clinical researchers to more efficiently select and monitor Parkinson's patients in our therapeutic program is what makes this attractive to Amarantus. The timing of initiating the JV will allow us to begin moving NuroPro forward in 2013."

The market for Parkinson's could grow to a value of $3.75 billion by 2015, according to a report last year by Visiongain analysts. RBCC expects its deal with Amarantus to help position the company to capitalize on that growth and generate revenue in the near-term.

For more information on Rainbow BioSciences, please visit www.rainbowbiosciences.com/investors.html.

About Rainbow BioSciences

Rainbow BioSciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (OTCBB: RBCC). The company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. For more information on our growth-oriented business initiatives, please visit our website at [http://www.RainbowBioSciences.com]. For investment information and performance data on the company, please visit www.RainbowBioSciences.com/investors.html.

About Amarantus BioSciences, Inc.

Amarantus BioSciences, Inc. (OTCBB: AMBS) is a development-stage biotechnology company founded in January 2008.  The Company focuses 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.

Notice Regarding Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contacts:

Amarantus BioSciences, Inc.
Gerald E. Commissiong
President & CEO
408-737-2734
info@amarantus.com

Rainbow Coral Corp.
Patrick Brown, 813-367-9511
President and CEO
info@rainbowcoral.com


'/>"/>
SOURCE Amarantus BioSciences, 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. Pressure BioSciences, Inc. and Target Discovery, Inc. Expand Strategic License Agreement and Collaboration Supporting TDIs Planned Offering of Personalized Medicine Clinical Diagnostic Services
5. Neurocrine Biosciences Announces Conference Call and Webcast to Present First Quarter 2012 Financial Results
6. Neurocrine Biosciences Reports First Quarter 2012 Results
7. Pressure BioSciences, Inc. to Discuss First Quarter 2012 Financial Results And Provide Business Update
8. Ambit Biosciences and Teva Announce Clearance of an Investigational New Drug (IND) Application for CEP-32496, A Novel BRAF(V600E) Inhibitor
9. Neurocrine Biosciences to Present at the Jefferies 2012 Global Healthcare Conference
10. 3-V Biosciences To Present at the Seventh Annual JMP Securities Healthcare Conference
11. Sofie Biosciences receives $1M Phase II SBIR grant from the DOE
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... Story Highlights: ... the health care industry is causing providers to review ... Deloitte offers a suite of solutions for health care ... cost optimization: labor resource analysis, revenue cycle optimization and ... outcomes and better economics ...
(Date:6/24/2016)... Dublin ... of the " Global Markets for Spectroscopy Equipment" ... This report focuses on the global ... including its applications in various applications. The report deals ... three main industries: pharmaceutical and biotechnology, food and beverage, ...
(Date:6/24/2016)... , June 24, 2016 Research and ... Market for Companion Diagnostic Tests" report to their offering. ... for Companion Diagnostics The World Market for ... personalized medicine diagnostics. Market analysis in the report includes the ... Market (In Vitro Diagnostic Kits) by Region (N. America, EU, ...
Breaking Medicine Technology:
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle Cell ... pain and the benefits of holistic treatments, Serenity Recovery Center of Marne, ... Cell Disease. , Sickle Cell Disease (SCD) is a disorder of the red blood ...
(Date:6/24/2016)... ... , ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys ... peers for this recognition are considered among the top 2 percent of lawyers practicing ... members of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. ...
(Date:6/24/2016)... ... ... of Topricin and MyPainAway Pain Relief Products, join The ‘Business for a Fair Minimum Wage’ ... 2020 and then adjusting it yearly to increase at the same rate as the median ... floor does not erode again, and make future increases more predictable. , The company is ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Haute Beauty ... Barry M. Weintraub as a prominent plastic surgeon and the network’s newest partner. ... and the most handsome men, look naturally attractive. Plastic surgery should be invisible.” ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm ... sciences executive with extensive sequencing and genomics experience, as Vice President of North American ... Hill will be responsible for leading the sales team in the commercialization of the ...
Breaking Medicine News(10 mins):