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 announced that it has acquired an exclusive option to license the LymPro Alzheimer's Diagnostic Blood Test from Memory Dx, LLC (MDx), formerly known as Provista Life Sciences, LLC. Under the terms of the agreement, Amarantus agreed to pay 500,000 restricted shares of its common stock to MDx for exclusive negotiating rights through December 31st, 2012 to the LymPro blood test.
"Coming off our recent success in securing the license for the NuroPro Parkinson's Diagnostic Blood Test, the LymPro Alzheimer's Diagnostic Blood Test option agreement will give Amarantus additional leverage over the next few months in negotiations as we look to partner our diagnostic assets," said Gerald E. Commissiong, President & CEO of Amarantus. "The market opportunity for a minimally-invasive Alzheimer's blood test capable of detecting the disease early on is tremendous given recent Phase III clinical data produced by Pfizer, Johnson & Johnson and Eli Lilly all suggesting that patients with mild cases of Alzheimer's disease are the best sub-population of clinical candidates for beta-amyloid targeting disease-modifying treatments, a potential blockbuster target for each of these companies. We expect that NuroPro and LymPro will create a compelling investment package for potential partners."
The LymPro Alzheimer's diagnostic blood test works by identifying immune-based biomarkers in the blood of Alzheimer's patients. It allows physicians to differentiate Alzheimer's disease from other forms of dementia based upon these biomarkers; potentially making it an invaluable tool in patient recruitment for Alzheimer's disease therapeutic clinical trials where there has been a well-documented history of patient recruitment miscues.
LymPro originates with the University of Leipzig in Germany and has been funded primarily through private investors and research grants from the National Institutes of Health ("NIH"). LymPro has completed two human clinical studies to date, and is set to move immediately into the Phase 2 validation study required to begin generating revenue as a laboratory developed test ("LDT") at an already-selected Certified Laboratory Improvement Amendments ("CLIA") certified laboratory. Thereafter, we anticipate LymPro will begin its regulatory process with the Food and Drug Administration towards approval.
Amarantus BioSciences, Inc.