Coeptis Pharma Enters
into Agreement to Acquire Elto
Pharma
New York, NY and Wexford, PA --
November 28,
2018 -- InvestorsHub NewsWire --
Coeptis
Pharmaceuticals, Inc., a diversified commercial
biopharmaceutical company, today announced that
it has entered into a binding agreement to acquire all outstanding
shares of Elto Pharma, Inc.
Elto
Phama
is developing
eltoprazine, a serotonergic agonist in Phase 2b development for the treatment
of Parkinson's disease levodopa-induced dyskinesias
(Parkinson's LID). Elto Pharma is a joint venture between
Amarantus
Bioscience Holdings, Inc. (OTCPK:
AMBS) and Psychogenics, Inc.
"Eltoprazine
will be a
key long-term growth driver for
Coeptis given its outstanding profile
as a potential therapy across several brain-related
conditions," said David Mehalick, President
& CEO of Coeptis. "As we focus on the near-term
commercialization of our 505(b)2 and generic pipeline, with the launch of our first
FDA-approved 505(b)2
product expected in 2019, Coeptis will
be strongly
positioned to successfully launch
its
products
across multiple
disease areas in the years ahead. Eltoprazine
has blockbuster potential as a new chemical entity treatment for
multiple neurological conditions, beginning with Parkinson's
LID."
"After a thorough
review of strategic options for Elto Pharma, we believe this
transaction with Coeptis represents the best outcome for
Amarantus and its various
stakeholders," said Gerald E. Commissiong,
President & CEO of Amarantus, and interim-CEO of Elto Pharma.
"Coeptis has a strong operational team and a robust pipeline of products preparing
to be commercialized that we believe will drive shareholder value
in the years ahead. We are very excited to become part of
the Coeptis organization.."
About Coeptis Pharma, Inc.
Coeptis
Pharmaceuticals,
Inc. is a privately
held biopharmaceutical company
engaged in the
acquisition,
development
and commercialization
of
branded
and generic pharmaceutical products, as well as
strategic investments in biologics.
Headquartered
near Pittsburgh, PA, the company holds a robust pipeline of
products in various
stages of development and commercialization.
About Elto Pharma,
Inc.
Elto Pharma, Inc.
is developing eltoprazine, an oral small
molecule 5HT1A/1B partial agonist in clinical development for the
treatment of Parkinson's disease levodopa-induced dyskinesia
(PD-LID), aggression in
Alzheimer's
disease
and adult attention
deficit hyperactivity disorder (adult ADHD). Eltoprazine has been
evaluated in over 680 human subjects to date, was well-tolerated and
showed promising efficacy results
in both cognitive
and movement disorders. Eltoprazine has received
orphan drug designation (ODD) from the US FDA for the treatment of
PD-LID.
Eltoprazine was
originally developed by Solvay (now Abbvie) for aggression-related indications.
The eltoprazine program was out-licensed to PsychoGenics, Inc.
(PGI). PGI licensed eltoprazine to Amarantus in 2014 after a
successful proof-of-concept trial in PD-LID.
In April 2017,
Amarantus incorporated the wholly-owned subsidiary Elto Pharma,
Inc. for the purpose of raising capital to finance the further
clinical development of eltoprazine.
About Amarantus Bioscience Holdings, Inc.
Amarantus
Bioscience Holdings (AMBS)
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.
AMBS' wholly-owned subsidiary Elto Pharma,
Inc. has
development rights to eltoprazine, a Phase 2b-ready small molecule
indicated for Parkinson's disease levodopa-induced dyskinesia,
Alzheimer's aggression and adult attention deficit hyperactivity
disorder, commonly known as ADHD. AMBS acquired the rights to the
Engineered Skin Substitute program, a regenerative medicine-based
approach for treating severe burns with full-thickness autologous
skin grown in tissue culture that is being pursued by AMBS'
wholly-owned subsidiary Cutanogen
Corporation.
AMBS' wholly-owned subsidiary MANF Therapeutics, Inc. owns key
intellectual property rights and licenses from a number of
prominent universities related to the development of the
therapeutic protein known as mesencephalic astrocyte-derived
neurotrophic factor ("MANF"). MANF Therapeutics,
Inc. is
developing MANF-based products as treatments for brain and
ophthalmic disorders. MANF was discovered by the Company's Chief
Scientific Officer John Commissiong, PhD. Dr. Commissiong
discovered MANF from AMBS' proprietary discovery engine
PhenoGuard. The Company also re-acquired
rights to the Alzheimer's blood
diagnostic LymPro Test , MSPrecise and NuroPro.
For further information please
visit www.Amarantus.com, or connect with the Amarantus
on Facebook,LinkedIn,Twitterand Google+.
Amarantus Investor and Media
Contact:
Howard
Gostfrand
American Capital
Ventures, Inc.
Office:
305-918-7000
Email:
hg@amcapventures.com
Source: Amarantus
Bioscience Holdings, Inc.
