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Amarantus BioSciences, Inc. (AMBS) And Rainbow Biosciences Select NuPro As Product Candidate For Proposed Joint Venture

In an effort to move forward with their proposed joint venture, Amarantus BioSciences and Rainbow Coral Corp. subsidiary Rainbow Biosciences have selected Amarantus' NuroPro as their target product candidate. The pending joint-venture agreement will establish a partnership to commercialize NuroPro, which is in development for the diagnosis of Parkinson's disease.

The companies say the deal will enable completion of the final stages of the NuroPro program, which they anticipate will result in a commercially viable product.

NuroPro has already undergone a phase 1 human clinical trial, and the companies expect to initiate a phase 2 clinical study in 2013. Upon completion of the phase 2 trial, the joint venture will introduce NuroPro into the marketplace as a Laboratory Developed Test (LDT) in a Clinical Laboratory Improvement Amendment (CLIA) certified laboratory prior to engaging in the regulatory process with the U.S. Food and Drug Administration.

"Our focus on Parkinson's disease has allowed us to gain considerable traction with partners who understand the potential value of the technologies we have in-house," Gerald E. Commissiong, president & CEO of Amarantus stated in the press release. "This transaction will allow Amarantus to gain significant upside in revenues derived from the NuroPro asset while defraying the costs of the project in order to focus our internal resources on the MANF Program for Parkinson's disease. As NuroPro advances toward commercialization, it could become a key competitive advantage for our MANF clinical development program."

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