Amarantus BioScience Modifies Business Structure to Support Product Development Strategy

Corporation will change name to Amarantus Bioscience Holdings, Inc.

SUNNYVALE, Calif.–(BUSINESS WIRE)– Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis, today announced it will adopt a holding company structure with separate business units in order to more effectively develop its various assets. Reflecting the change in structure, the corporation will change its name to Amarantus Bioscience Holdings, Inc.

Initially, the Company will form two business units: Amarantus Therapeutics, centered on its patented therapeutic protein Mesencephalic Astrocyte Neurotrophic Factor (MANF), and Amarantus Diagnostics, focused on developing the LymPro Blood Test for Alzheimer’s disease and the NuroPro Blood Test for Parkinson’s disease. Currently, MANF is in preclinical testing as a potentially disease-modifying treatment for Parkinson’s disease, and the two diagnostic tests are being prepared for Phase 2 studies. The Company will also evaluate the acquisition/in-licensure of clinical-stage drug candidate to complement MANF within the Amarantus Therapeutics subsidiary, and may evaluate additional strategic significantly undervalued opportunities over time using its deep industry knowledge and connections.

“While our near-term development objectives remain the same, the new structure will allow us to allocate capital more efficiently, and form management teams specific to each business or product line,” said Gerald E. Commissiong, President and Chief Executive Officer of Amarantus BioScience. “We will also be able to create new business units to leverage other assets we already own, such as our PhenoGuard Protein Discovery platform, or that we may acquire. Additionally, we have decided not to spinoff Amarantus Diagnostics at this time, and will re-evaluate the potential spinoff of various business units as the situation with each entity unfolds.”

In conjunction with the new business structure and name change, the Company’s common stock will be given a new CUSIP code for the clearing and settlement of trades following confirmation with the various authorities. The Company will disclose the exact timing of this change in a future regulatory filing once final timing information is available.

About Amarantus BioScience

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 …read more

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