Amarantus Retains Weild & Co.
to Advise on JOBS Act Funding
Mr. Heng Fai Chan converts secured
debt into common equity
New York, NY
-- May 22,
2018 --
InvestorsHub NewsWire -- Amarantus Bioscience Holdings,
Inc. (OTC Pink:
AMBS) (the "Company," or AMBS), a US-based JLABS-alumnus
biotechnology holding company, developing first-in-class orphan
neurologic, regenerative medicine and ophthalmic therapies
and
diagnostics through its
subsidiaries, today announced that it
retained Weild & Co.
to advise the
Company for planned capital raises using mechanisms created under
the JOBS Act. The Company is evaluating strategies to capitalize
both the parent company Amarantus, as well as subsidiaries Elto
Pharma, Inc., Cutanogen Corporations and MANF
Therapeutics.
"Weild & Co.,
led by Mr. David Weild, brings tremendous experience in the capital
markets, and specifically understands newly-created mechanisms
under the JOBS Act that allow for Alternate Reporting companies
such as Amarantus to gain access to pools of capital that were
previously unreachable for us," said Gerald E. Commissiong,
President & CEO of Amarantus.
Mr. Weild is
Founder, Chairman and CEO of Weild & Co. The studies that he
co-authored have documented the long-term decline in equity capital
formation in the United States and provided the core arguments that
gave rise to the JOBS Act and many of the specific provisions
contained in the JOBS Act. For these reasons, he
is
frequently called "The father of the JOBS
Act." Mr.
Weild is a
former Vice Chairman and executive committee member of The NASDAQ
Stock Market and spent years running major Wall Street investment banking
and equity capital markets businesses. He holds an MBA from the Stern
School of Business and a BA from Wesleyan University. He studied on
exchange at The Sorbonne, Ecole des Haute Etudes
Commerciales
and The Stockholm
School of Economics. He is also the Chairman Emeritus and a Board Member of Tuesday's Children,
the charity that
provides long-term recovery services to 9/11 family members, first
responders, and widows and orphans of US military.
"Amarantus
has acquired some very important product candidates that have the
potential to improve outcomes for some of the most challenging
human health conditions, including Parkinson's and severe burns,"
said David Weild, Chairman & CEO of Weild & Co. "We look forward to helping
the management team prepare offerings that have the potential to be
accretive to shareholder value."
Concurrent with
this announcement, the Company disclosed that Mr. Heng Fai Chan's
affiliated entities, including Xpress Group
International, have converted their $350,000
senior secured convertible debenture into common stock of
Amarantus. Mr. Chan and affiliated entities now own 72,610,667
shares of common stock, representing approximately 37% of the
outstanding common stock of Amarantus.
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.