SUNNYVALE, Calif., Oct. 10, 2012 /PRNewswire/ -- Amarantus BioSciences, Inc. (OTCQB: AMBS), a biotechnology company developing new treatments and diagnostics for Parkinson's disease and Traumatic Brain Injury centred on its proprietary anti-apoptotis therapeutic protein MANF, today provided the following update to shareholders from its President & CEO Gerald E. Commissiong:
"The fundamental progress the Company has made since our First Annual CEO Letter was released in May has been quite significant. We have achieved the following milestones:
While these developments are of significant importance for the Company, advancing MANF as a disease-modifying treatment for Parkinson's disease continues to be our primary focus. We anticipate announcing interim results from on-going delivery experiments by the end of October. The Company is working to secure funding to advance MANF towards an Investigational New Drug filing for Parkinson's disease with the Food and Drug Administration.
As new and exciting proof-of-concept data for MANF in secondary therapeutic indications continues to be published by research laboratories throughout Europe, China, Japan and North America, the value of our intellectual property ("IP") portfolio is steadily increasing. We are continually expanding our IP portfolio for MANF by filing and aggregating new patents.
As we further carve-out our position as the partner of choice for any MANF-based product development effort, we expect that we will be successful in attracting the necessary financial commitments to move MANF into clinical testing based upon the success of experiments already underway. As we continue to show progress in Parkinson's disease, we will likely be in a good negotiating position with potential partners seeking to commercialize MANF both in Parkinson's and other medical conditions, which could create multiple partnering opportunities for the Company.
Amarantus' license for NuroPro, our clinical-stage Parkinson's disease diagnostic blood test, has several potential positive benefits for our MANF Parkinson's program including the identification of patients most likely to respond to MANF treatment. We intend to immediately pursue a partnering strategy for NuroPro and expect to update the marketplace once definitive agreements are reached. NuroPro could become a significant source of revenue for the Company within a relatively short period of time and its further development could have a major impact on the way Parkinson's disease is diagnosed and managed by physicians.
In closing, the team at Amarantus has been working tirelessly to complete the goals we put out to our shareholders several months ago. We are making progress and expect that we will be able to successfully execute on our plans. Going forward, the Company will have greater communication with its shareholders and looks forward to the months ahead as we gain a broader audience for our programs by continuing to execute on our corporate strategy."
About Amarantus BioSciences, Inc.
Amarantus BioSciences, 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.
Amarantus BioSciences, Inc.
Gerald E. Commissiong
SOURCE Amarantus BioSciences, Inc.