Amarantus BioScience has licensed the LymPro Alzheimer's Disease Diagnostic Blood Test from Memory Dx LLC (MDx), growing Amarantus' existing diagnostic pipeline and positioning the company to participate in related future opportunities.
LymPro, designed to diagnose Alzheimer's in its mild to moderate stage, has completed two phase 1 clinical studies and is ready to move into a phase 2 validation study. If successful, Amarantus anticipates that LymPro can begin generating revenue as a laboratory-developed test within 18 months of study initiation, through commercial sales and sales to companies performing Alzheimer's disease clinical research.
"We believe LymPro has significant clinical and commercial potential as a diagnostic blood test for Alzheimer's disease," Gerald E. Commissiong, president and CEO of Amarantus stated in the press release. "It is clear that the path forward for treating Alzheimer's disease is to identify and initiate therapeutic intervention as early as possible. If proven effective, LymPro could provide physicians with a lower-cost, minimally-invasive intervention and reduce the need for costly brain imaging scans. This license expands our diagnostic pipeline and complements our strategic focus on neurodegenerative diseases. While we are not currently developing MANF for Alzheimer's disease, we believe that the cost-effective definitive identification of earlier-stage patients will create a significant opportunity for Amarantus to evaluate the MANF Program as a disease-modifying treatment in this large, underserved therapeutic indication."
Per the agreement, Amarantus will issue 2 million shares of restricted common stock to MDx, pay a development milestone upon successful completion of the phase 2 validation study, as well as pay a 9 percent royalty on sales.
Also as part of the deal, Amarantus will collaborate with MDx to perform the necessary validation study to gain Clinical Laboratory Improvement Amendments (CLIA) certification for LymPro. The companies' strategy also includes strengthening and leveraging their relationships with large pharmaceutical companies and obtaining additional grant funding for the further development of LymPro.
"Amarantus represents an excellent partner for Memory Dx because of its scientific focus on protein misfolding and aggregation, which we believe will continue to be critical in developing disease-modifying treatments for Alzheimer's," said William E. Gartner, president and CEO of MDx. "This agreement with Amarantus is the final step in the transition of Memory Dx from a diagnostic product developer into a contract CLIA lab focused on driving revenues. We look forward to working with Amarantus to advance LymPro and get it into the hands of physicians so we can help address the significant socioeconomic problems caused by Alzheimer's disease."
For more information, visit Amarantus.com
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