Amarantus BioScience Licenses LymPro Alzheimer's Disease Diagnostic
Blood Test
SUNNYVALE, Calif., Dec. 14, 2012 /PRNewswire/ -- Amarantus
BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering
and developing treatments for diseases associated with protein
misfolding and apoptosis, today announced that it has licensed the
LymPro Alzheimer's Disease Diagnostic Blood Test (LymPro) from
Memory Dx, LLC (MDx), formerly known as Provista Life Sciences,
Inc. LymPro originated from the University of Leipzig in Germany and has received over $3 million in research grants from the National
Institutes of Health (NIH).
LymPro was designed with the purpose of diagnosing Alzheimer's
in its mild to moderate stage, a population of patients currently
being tested in numerous clinical studies with amyloid-beta
targeting strategies. LymPro works by identifying immune-based
biomarkers in the blood of Alzheimer's patients, diagnosing
Alzheimer's and allowing physicians to definitively differentiate
Alzheimer's disease from other forms of dementia. This
patient-specific identification has the potential to become an
invaluable tool for Alzheimer's disease clinical trials, where
there has been a well-documented history of patient recruitment
errors related to inaccurate diagnosis of Alzheimer's. LymPro has
completed two Phase 1 clinical studies in over 80 patients, showing
98% sensitivity and 96% specificity for Alzheimer's disease
diagnosis. LymPro is ready to move into a Phase 2 validation
study. If successful, LymPro can begin generating revenue as
a laboratory developed test ("LDT") within 18 months of study
initiation through commercial sales and through sales to companies
performing Alzheimer's disease clinical research.
"We believe LymPro has significant clinical and commercial
potential as a diagnostic blood test for Alzheimer's disease," said
Gerald E. Commissiong, President and
CEO of Amarantus. "It is clear that the path forward for treating
Alzheimer's disease is to identify and initiate therapeutic
intervention as early as possible. If proven effective, LymPro
could provide physicians with a lower-cost, minimally-invasive
intervention and reduce the need for costly brain imaging
scans. This license expands our diagnostic pipeline and
complements our strategic focus on neurodegenerative diseases.
While we are not currently developing MANF for Alzheimer's disease,
we believe that the cost-effective definitive identification of
earlier-stage patients will create a significant opportunity for
Amarantus to evaluate the MANF Program as a disease-modifying
treatment in this large, underserved therapeutic indication."
Under the terms of the agreement, Amarantus has agreed to issue
two million shares of restricted common stock to MDx, pay a
development milestone upon successful completion of the Phase 2
validation study, as well as pay a nine percent royalty on sales.
In addition, Amarantus has agreed to retain MDx to perform the
necessary validation study to gain Clinical Laboratory Improvement
Amendments (CLIA) certification for LymPro. Together, Amarantus and
MDx will expand their relationships with large pharmaceutical
companies, and will also seek additional grant funding for the
further development of LymPro. Amarantus has the right to assign or
sub-license LymPro to a third party of its choosing at any
time.
"Amarantus represents an excellent partner for Memory Dx because
of its scientific focus on protein misfolding and aggregation,
which we believe will continue to be critical in developing
disease-modifying treatments for Alzheimer's," said William E. Gartner, President and CEO of Memory
Dx, LLC. "This agreement with Amarantus is the final step in the
transition of Memory Dx from a diagnostic product developer into a
contract CLIA lab focused on driving revenues. We look forward to
working with Amarantus to advance LymPro and get it into the hands
of physicians so we can help address the significant socioeconomic
problems caused by Alzheimer's disease."
About Alzheimer's Disease
It is estimated that over 5.4 million people in the United States suffer from Alzheimer's
disease and over 300,000 patients are diagnosed annually, with
nearly one in eight older Americans affected by the disease.
Alzheimer's is the sixth leading cause of death in the United States. The estimated cost of
unpaid care in the United States
is estimated at over $210 billion
annually and the total payments for care are estimated at over
$200 billion annually, including
$140 billion in cost to Medicare and
Medicaid. It is estimated that these figures will double by 2050.
Amarantus believes the market opportunity for an effective
Alzheimer's disease diagnostic far exceeds $500 million annually.[1]
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 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.
[1]
http://www.alz.org/alzheimers_disease_facts_and_figures.asp
MEDIA CONTACTS
Amarantus Bioscience, Inc.
(408) 737-2734
pr@amarantus.com
Investor/Media Contact:
IR Sense, LLC
Remy Bernarda
415-203-6386
remy@irsense.com
SOURCE Amarantus BioScience, Inc.