Amarantus Enters Into Agreement to License Diverse Therapeutics Portfolio to CBD-focused Emerald Organic Products
25 October 2019 - 12:52AM
InvestorsHub NewsWire
Amarantus Enters Into Agreement to License Diverse Therapeutics
Portfolio to CBD-focused Emerald Organic Products
- Amarantus is receiving Emerald Preferred Stock with a
minimum value of $100M in 2022
- Treatment candidates are for Alzheimer’s, ADHD,
Parkinson’s, severe burns and vision loss
- Portfolio includes two Phase 3-ready
programs
NEW YORK, NY -- October 24, 2019 -- InvestorsHub NewsWire --
Amarantus Bioscience Holdings, Inc. (OTC Pink: AMBS) (“Amarantus,”
or AMBS), a US-based JLABS-alumnus biotechnology holding company
developing proprietary orphan neurologic, regenerative medicine and
ophthalmic therapies and diagnostics through its subsidiaries,
today announced it has entered into a binding term sheet to license
its therapeutic assets to Emerald Organic Growth, Inc. (OTCPK:
EMOR) (“Emerald” or EMOR), a fully-integrated, CBD-based health
sciences company launching branded products via its nationwide
distribution channels. Amarantus will receive Emerald Preferred
Stock to be valued at a minimum of $100M in 2022, and up to double
digit royalties (in addition to passthrough royalties and
milestones) in exchange for worldwide, exclusive development and
commercial rights to eltoprazine, engineered skin substitute (ESS),
mesencephalic astrocyte-derived neurotrophic factor (MANF) and
PhenoGuard. Key Amarantus team members will incubate Emerald’s
emerging life sciences unit. The transaction is subject to
customary closing conditions and the consent of certain Amarantus
stakeholders.
“We see tremendous value in Amarantus’ diverse portfolio of
therapeutic assets that has received a total of over $150 million
in research & development investment to date, and has produced
two Phase 3-ready product candidates in the areas of neurology and
severe burns that together have received combined independent
valuations of over $500 million and are targeting market
opportunities of over $35B annually,” said Ian Parker, President
& CEO of Emerald. “With the addition of the Amarantus portfolio
and key personnel, we are furthering our commitment to changing the
paradigm of health and wellness. We believe there will be
tremendous synergies over time between our consumer health and
biopharmaceutical divisions, and can imagine a time when the
combination of consumer cannabis-based products and FDA-regulated
drugs could lead to improved outcomes for consumers and patients at
lower costs. The teams at Emerald and Amarantus will be working to
help shape this vision together.”
“After a careful evaluation of all of our options to create
shareholder value given Amarantus’ debt and capital structure,
we are thrilled to be able to have a clear path towards
delivering value for the various Amarantus stakeholders, while also
becoming a significant part of the story of an emerging leader in
the fast-growing legal cannabis industry, led by an astute and
seasoned management focused on delivering meaningful benefit to
consumers and patients,” said Gerald Commissiong, President &
CEO of Amarantus. “The emerging CBD industry is expected to grow to
between $15B-$20B within the next 5 years. Emerald is building a
best-in-breed health sciences company that is harnessing the new
CBD category to deliver convenient and meaningful products for
consumers seeking to improve their health. The addition of
FDA-regulated programs and personnel will mark a significant
milestone towards Emerald’s objective of becoming a diversified
health sciences company.”
Pursuant to the agreement, upon certain conditions, Emerald
intends to initiate a tender offer to acquire all outstanding
shares of Amarantus. Concurrent with this announcement, Amarantus
and Coeptis Pharmaceuticals have mutually agreed to terminate the
pending merger of Elto Pharma and Coeptis.
About Emerald Organic Growth, Inc.
Emerald Organic Products, Inc. (OTC:EMOR), through its Pura Vida
brand, has developed and recently commercialized a line of vitamins
and supplements with certain proprietary cannabidiol (CBD) health
and wellness products which will be marketed nationally and in
certain foreign countries through various marketing and sales
distribution channels including experienced wholesale distributors
and a professional e-commerce platform. These hemp-based
proprietary Pura Vida CBD products include CBD vitamins, chewable
CBD gummies, and gummy bears, vaporization CBD liquids, drinks, CBD
tinctures, CBD cosmetics, and others.
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. 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 the diagnostic assets, and Todos
recently exercised its exclusive option to acquire Amarantus’
remaining ownership in Breakthrough in exchange for approximately
50% ownership of Todos. The transaction is expected to close in the
summer of 2019. AMBS’ 50%-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.
Elto Pharma entered into an agreement to be acquired by specialty
pharmaceutical company Coeptis Pharmaceutical, Inc. that is
commercializing the FDA-approved Consensi in late 2019. Under the
terms of the agreement, AMBS would own approximately 25% of the
combined company post-acquisition. The AMBS
acquired Cutanogen
Corporation from Lonza Group in 2015. Cutanogen
is preparing for pivotal studies with Engineered Skin Substitute
(ESS) for the treatment of pediatric life-threatening severe burns.
ESS is a regenerative medicine-based, autologous full-thickness
skin graft technology originally developed by the Shriner’s
Hospital that can be used to treat severe burns, as well as several
other catastrophic and cosmetic dermatological indications. 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
is developing MANF-based products as treatments for
ophthalmological disorders such as Wolfram Syndrome, Retinitis
Pigmentosa and Glaucoma, as well as neurodegenerative diseases such
as Parkinson’s disease. MANF was discovered by the Company’s Chief
Scientific Officer John Commissiong, PhD. Dr. Commissiong
discovered MANF from AMBS’ proprietary discovery engine PhenoGuard,
and believes several other neurotrophic factors remain to be
discovered. Amarantus also owns approximately 30% of the common
shares of Avant Diagnostics,
Inc.
For further information please visit www.Amarantus.com, or
connect with the Amarantus
on Facebook, LinkedIn, Twitter and Google+.
Amarantus Investor and Media Contact:
Gerald Commissiong
President & CEO
Office: 650-862-5391
Email: gerald@amarantus.com
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