Amarantus Biosciences, Inc., a biotech company focused on developing a first-in-class disease–modifying therapeutic protein for the treatment of Parkinson’s disease, today announced it has signed an exclusive worldwide license agreement with Power3 Medical Products, Inc. for the NuroPro® Blood Test as it relates to Parkinson’s disease diagnosis.
Per the initial one-year agreement, Amarantus has an exclusive license to develop, manufacture, have manufactured, use, market, sell and import medical devices and methods under the Power3 Parkinson’s Disease Intellectual Property (IP). Amarantus now also has an exclusive, royalty-free, fully paid-up worldwide license to Power3 know-how, patents and patent applications which relate to medical devices and methods for the treatment of neurodegenerative disease as it relates to Parkinson’s disease.
The NuroPro Blood Test is a diagnostic platform designed to assist physicians to more accurately diagnose disease and monitor progression, and has the ability to accurately detect and distinguish between Alzheimer’s disease, ALS (Lou Gehrig’s disease), and Parkinson’s disease. Amarantus’ license is focused on the further development to specifically target the early diagnosis and ongoing monitoring of Parkinson’s disease.
The licensing agreement enhances Amarantus’ market position and advances its MANF (Mesencephalic-Astrocyte-derived Neurotrophic Factor) therapeutic, for which it currently was awarded the composition of matter patent by the U.S. Patent & Trademark Office.
“The in-license of the NuroPro Blood Test for Parkinson’s disease expands our product offering as we strive to become the leader in the evaluation and treatment of Parkinson’s disease,” Gerald Commissioning, president and CEO of Amarantus stated in the press release. “Now that we will be able to tailor our therapeutic development pathway towards a companion diagnostic product that we control, Amarantus is positioned to build a strategic advantage over competitors as the execution of our clinical and regulatory strategy continues to advance MANF as a disease-modifying treatment for Parkinson’s disease.”
The NuroPro Blood Test has undergone proof-of-concept and phase 1 clinical validation studies for Parkinson’s disease application, and Amarantus said it plans to initiate a phase 2 clinical validation study in the first half of 2012.
Per the agreement, Amarantus paid a $25,000 exclusivity fee in common stock on November 11, 2011, and will issue to Power3 $475,000 worth of common stock. Amarantus has an option to purchase all of the Parkinson’s Disease IP owned by Power3 for $500,000 worth of common stock and maintains a Right of First Refusal to acquire the balance of the NuroPro platform for Alzheimer’s, ALS and all other neurodegenerative diseases.
For more information visit www.amarantus.com
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