Amarantus BioSciences Expands Corporate Strategy
November 01 2011 - 10:05AM
Business Wire
Amarantus BioSciences, Inc. (OTCBB:AMBS), a biotechnology
company developing MANF, a first-in-class disease–modifying
therapeutic protein, today provided shareholders with an update on
its corporate strategy. Amarantus will utilize its core scientific
understanding of Parkinson’s disease and related areas of
neuroscience to identify and advance product development
opportunities that fill gaps of significant unmet medical need. The
Company has initiated a corporate mandate to identify complementary
assets to diversify and strengthen its pipeline and will work with
its current stakeholders as well as experts in the field to execute
upon this strategy.
“Amarantus intends to seize upon the opportunities created by
inefficiencies in the marketplace for Parkinson’s disease and
Central Nervous System disorder-related product development
programs to dramatically alter the paradigm for patients suffering
from these terrible diseases,” said Gerald Commissiong, Amarantus’
newly appointed President and CEO. “By adjusting our corporate
strategy to potentially bolster our pipeline, we hope to reduce our
overall enterprise risk and shorten the time horizon of return on
investment for shareholders.”
Amarantus’ most advanced program is focused on developing MANF
as a disease-modifying therapy for Parkinson's disease. Amarantus
is currently developing its strategic plan for MANF’s translational
development in Parkinson’s disease and expects to update the
marketplace with projected milestones and timelines in early 2012.
The Company recently received a Notice of Allowance from the U.S.
Patent & Trademark Office covering MANF’s discovery and
therapeutic applications, which complements the Company’s existing
patent portfolio in Europe and global patent-pending portfolio.
About MANF (Mesencephalic-Astrocyte-derived Neurotrophic
Factor)
MANF (Mesencephalic-Astrocyte-derived Neurotrophic Factor) is a
protein that corrects protein misfolding, one of the major causes
of apoptosis (cell death). This property provides a compelling
rationale for the research and development of MANF-based products
as therapeutics for human disease. The lead MANF product
development effort is centered on a therapy for Parkinson's
disease, currently funded by a research grant from the Michael J.
Fox Foundation for Parkinson’s Research. The Company also owns an
inventory of 88 cell lines referred to as “PhenoGuard Cell Lines.”
MANF was the first therapeutic protein discovered from a PhenoGuard
Cell Line. It is anticipated that additional therapeutic proteins
useful for various therapeutic approaches to the Central Nervous
System will be identified from the Company’s inventory of
PhenoGuard Cell Lines.
About Amarantus BioSciences, Inc.
Amarantus BioSciences, Inc. is a California-based
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 Parkinson’s disease and other human diseases. The Company
owns the intellectual property rights to a therapeutic protein
known as Mesencephalic-Astrocyte-derived Neurotrophic Factor
("MANF"). 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.
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