Amarantus
Provides Update on Elto Pharma Capital Formation
Plan
New York,
NY -- June 07,
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 provided an update to
the marketplace on its capital formation plans for its wholly-owned
subsidiary Elto Pharma, Inc. Amarantus recently received an
independent third-party valuation report which valued the
Parkinson's disease levodopa-induced dyskinesia (PD-LID) indication
for Eltoprazine in the US and Europe at $316 million.
Amarantus management has outlined two distinct paths for Elto
Pharma to extract as much value for the Eltoprazine asset for
Amarantus as possible: 1) standalone private funding followed by a
US or Hong Kong-based IPO, or 2) a business combination with an
established clinical-stage biopharmaceutical company with strong
management and an exceptional pipeline in which Amarantus could
become a significant shareholder. Amarantus expects to make a final
determination on the capital formation plan for Elto Pharma in the
summer of 2018.
"The immediate focus for
Amarantus with regards to our wholly-owned subsidiary Elto
Pharma is to ensure that we maximize the current value inherent in
the eltoprazine asset, where a recent independent third party
valuation places the value of eltoprazine in PD-LID alone in the US
and Europe at approximately 30x the entire current market
capitalization of Amarantus," said Gerald E. Commissiong, President
& CEO of Amarantus and interim-CEO of Elto Pharma. "With the
capital restructuring of Amarantus nearing its final stages, we
believe we will soon be positioned to properly execute upon our
Elto Pharma strategy. Ultimately, we see value not
only from the PD-LID orphan indication for eltoprazine, which we
expect to appreciate significantly over time as the PD-LID
indication is further clinically de-risked, but we also intend to
see the Agitation in Alzheimer's disease and Adult
ADHD indications for Eltoprazine become valued by
the market as Elto Pharma executes upon its clinical development
strategy."
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, Twitter and 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.