Amarantus Bioscience Holdings, Inc. (OTC: AMBS), a biotechnology holding company pursuing proprietary therapeutics and diagnostics through its subsidiaries, today announced that it has completed an exclusive worldwide sublicense agreement for development rights of Cutanogen Corporation’s and MANF Therapeutics, Inc.’s pipelines to Emerald Organic Products (OTC: EMOR, or “Emerald”), a diversified cannabidiol (“CBD”)-focused health sciences company. Emerald now has development rights to Engineered Skin Substitute (ESS), mesencephalic astrocyte-derived neurotrophic factor (MANF) and PhenoGuard for all applications. RHK Capital, a boutique Connecticut-based investment bank, advised Emerald on the transaction.
Amarantus Bioscience Holdings is a JLABS alumnus biotechnology company developing treatments and diagnostics for diseases in the areas of neurology, regenerative medicine and orphan diseases through its subsidiaries. The Company‘s 80.01%-owned subsidiary Breakthrough Diagnostics, Inc., currently a joint venture with Todos Medical, Ltd. has licensed intellectual property rights to the Alzheimer’s blood diagnostic LymPro Test ® from Leipzig University that was originally developed by Dr. Thomas Arendt, as well as certain rights to multiple sclerosis diagnostic MSPrecise™ and Parkinson’s diagnostic NuroPro. Amarantus entered into a joint venture agreement with Todos Medical, Ltd. to advance diagnostic screening assets, and Todos has exercised its exclusive option to acquire Amarantus’ remaining ownership in Breakthrough in exchange for approximately 50% ownership of Todos. The transaction is expected close before the end of the first quarter of 2020. Amarantus also owns approximately 30% of the common shares of Avant Diagnostics, Inc., a healthcare data-generating technology company that specializes in biomarker assay services that target multiple areas of oncology.
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