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Amarantus BioSciences Announces Partnership Agreement with Generex Biotechnology

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Amarantus BioSciences, Inc. (“Amarantus”), a biotechnology company developing first-in-class, disease-modifying treatments that address an underlying cause of cell death known as apoptosis, today announced a licensing agreement under which Amarantus will in-license Generex Biotechnology, Inc.’s (“Generex”) drug delivery technologies in all therapeutic areas, excluding diabetes mellitus, where Generex and Amarantus will pursue a joint research collaboration.

Under the terms of the partnership agreement, Generex will grant Amarantus a non-exclusive worldwide license for the clinical and regulatory development and commercialization of Generex’ buccal delivery technologies, known as RapidMist, in combination with Amarantus’ proprietary MANF and PhenoGuard technologies for all disease indications except diabetes mellitus. For diabetes mellitus, Generex and Amarantus will jointly pursue the research and development of Amarantus technologies, where Generex will fund up to $5 million in research and development costs associated with this disease. As part of the overall collaboration, Generex retains rights to license up to three products developed from the Companies’ research efforts in the field of diabetes mellitus. The collaboration will be advanced through Amarantus’ wholly-owned subsidiary, Amarantus MA, based at the Pioneer Valley Life Sciences Institute, which is focused on MANF-based diabetes research.

MANF, a protein newly discovered by the scientific team at Amarantus, mediates the biological process known as apoptosis (programmed cell death) throughout the body. This special property has been scientifically demonstrated in various pre-clinical models of human disease, indicating that MANF-based products could have a significant impact on the treatment of a myriad of human diseases as first-in-class therapies, including diabetes. Amarantus’ most advanced product development program for MANF centers on the development of a disease-modifying therapy for Parkinson’s disease which is currently funded by the Michael J. Fox Foundation for Parkinson’s Research.

“Our partnership with Generex represents an important step forward for our development efforts in diabetes mellitus and other diseases mediated by MANF. The combination of Generex’ delivery systems and Amarantus’ technologies allows us to offer more comprehensive disease management solutions for patients as we look to develop new and novel therapies in various diseases. In particular, we look forward to working with Generex to advance the standards of care for people with diabetes,” commented Martin D. Cleary, Amarantus’ Chairman and CEO.

“One of the next goals of diabetes treatment is to change the progression rate of beta cell failure,” said John W. Commissiong, Amarantus’ founding scientist. “The validation of novel targets such as MANF, which we believe plays a critical role in the underlying pathophysiology of diabetes, will greatly facilitate the development of better medicines to treat and potentially arrest the progression of this disease and its often disabling complications.”

Source: Amarantus Generex