/EINPresswire.com/ SUNNYVALE, Calif. Amarantus BioSciences, Inc. (OTCBB: AMBS.OB – News), a biotechnology company developing MANF, a first-in-class disease-modifying therapeutic protein, today provided shareholders with an update on the execution of its expanded corporate strategy, first announced on November 1st, 2011, to position Amarantus as a neurology-focused biotechnology company. Since that time, the Company has:
• Received grant funding for a Traumatic Brain Injury collaboration with Banyan Biomarkers from Brewer Sports International;
• Recruited seasoned neurology executive Mark Benedyk, PhD to advise the company on strategy and business development efforts;
• Received positive feedback on the Company’s updated business plan from investors who attended the Company’s presentation at the National Investment Banking Association conference in Las Vegas, NV on December 1st, 2011.
“Amarantus has made good progress since the announcement of the Company’s expanded corporate strategy, and management will work diligently to cause this trend will continue into 2012,” said Gerald Commissiong, Amarantus’ newly appointed President and CEO. “We will continue to focus our efforts on securing additional corporate partnerships, improving our pipeline and adding seasoned neurology-focused executives to the executive team in order to diligently build shareholder value and improve the standard of care for patients.”
Amarantus believes that it has a unique opportunity to effect meaningful improvements in the treatment of Parkinson’s disease for millions of patients worldwide. The Company expects to release additional results to the marketplace from its lead program for Parkinson’s disease in the first half of 2012.
About MANF (Mesencephalic-Astrocyte-derived Neurotrophic Factor)
MANF (Mesencephalic-Astrocyte-derived Neurotrophic Factor) is a protein that corrects protein misfolding, one of the major causes of apoptosis (cell death). This property provides a compelling rationale for the research and development of MANF-based products as therapeutics for human disease. The lead MANF product development effort is centered on a therapy for Parkinson’s disease, currently funded by a research grant from the Michael J. Fox Foundation for Parkinson’s Research. The Company also owns an inventory of 88 cell lines referred to as “PhenoGuard Cell Lines.” MANF was the first therapeutic protein discovered from a PhenoGuard Cell Line. It is anticipated that additional therapeutic proteins useful for various therapeutic approaches to the Central Nervous System will be identified from the Company’s inventory of PhenoGuard Cell Lines.
About Amarantus BioSciences, Inc.
Amarantus BioSciences, Inc. is a California-based 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 Parkinson’s disease and other human diseases. The Company owns the intellectual property rights to a therapeutic protein known as Mesencephalic-Astrocyte-derived Neurotrophic Factor (“MANF”). 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.