SUNNYVALE, Calif., Sept. 3, 2013 (GLOBE NEWSWIRE) -- Amarantus Bioscience Holdings, Inc. (OTCQB:AMBS) a biotechnology company focused on the discovery and development of novel diagnostics and therapeutics related to neurodegeneration and apoptosis, today announced the appointment of Dr. Colin Bier to its Corporate Advisory Board to assist in the commercialization of the LymPro Test® as an aid in the diagnosis of the Alzheimer's type. Dr. Bier brings over 35 years of clinical expertise to the Company, having participated in numerous clinical trials, including trials in Alzheimer's disease as well as having been associated with the commercialization of several diagnostic tests.
"Dr. Bier brings significant expertise to the Company in the commercialization of diagnostic tests both through CLIA and through the FDA," said Gerald E. Commissiong, President & CEO of Amarantus. "Dr. Bier is one of the few people who has experience at the FDA concerning the intricacies of bringing a diagnostic test to market for Alzheimer's disease. We believe this regulatory experience will be highly valuable as we navigate the regulatory landscape and seek to bring LymPro to the broader physician-patient community."
Dr. Bieris managing and scientific director of ABA BioResearch, an independent bioregulatory consulting company providing expertise for technology assessment, fairness evaluation, due diligence and technical representation. Dr. Bier has extensive regulatory experience in the strategic management and development of pharmaceuticals, biopharmaceuticals, medical devices and diagnostics. Dr. Bier received his doctorate in experimental pathology from Colorado State University in 1978 and then pursued additional training as a Medical Research Council Postdoctoral Fellow and the Dr. Douglas James Fellow in the Department of Pathology, McGill University. Dr. Bier has extensive management experience in the biomedical sector having held senior scientific and executive management positions in the contract research industry as well as private industry and is a Senior Advisor to several venture funds and global biopharmaceutical companies. Dr. Bier is Chairman of the Advisory Committee for Technology Transfer of the Jewish General Hospital in Montreal, is on the scientific advisory board of three companies and serves as a director of two private companies and is a member of the Board of Trustees of Mount Sinai Hospital in Montreal, Canada. Dr. Bier will be working closely with Dr. Adam Simon, current member of the Company's Corporate Advisory Board, to finalize and implement the Company's commercialization strategy for LymPro to both maximize potential revenue and position LymPro as a potential companion diagnostic for therapeutic Alzheimer's programs.
"I am delighted to join Amarantus at a time when the Company is preparing for the introduction of this highly specific and sensitive diagnostic assay for Alzheimer's disease into the marketplace. Market launch of diagnostic products requires significant strategy in regards to initial commercial sales, regulatory matters, reimbursement and other important considerations. I am looking forward to helping the team at Amarantus make value-building decisions for both the short-term and long-term success of LymPro commercial launch and ultimate regulatory approval for widespread use."
AD represents approximately 10% of overall healthcare spend in the US, a penetration that is expected to deepen as an aging population and improved medicine leads to increased diagnoses. Healthcare spending in the US ranks higher than that of any other country, spending roughly $2 trillion, or 18% of GDP, on healthcare. In 2012, 15.4 million caregivers provided an estimated 17.5 billion hours of unpaid care, valued at more than $216 billion beyond the actual healthcare expenses. AD represents a large portion of this capital expenditure. It is estimated that the cost of caring for people with AD and other dementia's will rocket northwards from an estimated $203 billion in 2013 to a projected $1.2 trillion per year by 2050, with Medicare covering approximately 70% of costs.
The Company has estimated that peak sales for LymPro will exceed $500 million. On June 13, 2013 , the Company entered into a Laboratory Services Agreement with Becton Dickinson for the development of LymPro using BD Biosciences Custom Technology Team, and LymPro development remains on track to initiate a pivotal clinical study in early 2014 to support commercial launch of LymPro as a Laboratory-Developed Test ("LDT") under the Clinical Laboratory Improvements Act ("CLIA") in the second half of 2014. For more information on LymPro, please read the whitepaper posted on the home page of the Company's website.
Amarantus 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, Alzheimer's disease, Traumatic Brain Injury, and other human diseases. The Company has an exclusive worldwide license to the Lymphocyte Proliferation test ("LymPro Test®") for Alzheimer's disease and 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. The Company also owns intellectual property for the diagnosis of Parkinson's disease ("NuroPro") and the discovery of neurotrophic factors ("PhenoGuard"). For further information please visit www.Amarantus.com, or connect with the Company on Facebook, LinkedIn, Twitter and Google+.
CONTACT: Russell Miller, Director of Investor Relations 408.737.2734 x 109 email@example.com
Source:Amarantus BioScience Holdings, Inc.