Amarantus BioSciences Inc., Rainbow Coral deal

Amarantus and Rainbow Coral's Rainbow BioSciences LLC subsidiary formed a revenue-sharing JV to develop Amarantus' NuroPro diagnostic blood test for the early detection of Parkinson's disease. In April, the parties signed a letter of intent to develop Amarantus' PD program. The product is a blood test for detection of early neurodegenerative diseases (see BioCentury, May 7).

Rainbow will provide $250,000 to fund the JV. The diagnostic is expected to begin Phase II testing to diagnose and manage the progression of PD next year. The companies declined to disclose details. ...