Amarantus BioSciences Inc., Rainbow Coral deal
Amarantus and Rainbow Coral's Rainbow BioSciences LLC executed a letter of intent to develop Amarantus' Parkinson's disease program that includes early detection diagnostic blood test NuroPro and mesencephalic astrocyte-derived neurotrophic factor (MANF), a protein that mediates apoptosis. The companies said the diagnostic could be marketed as soon as 2013. Under the letter of intent, the companies entered into a 60-day option period to negotiate the amount of funding Rainbow will provide to Amarantus toward development and commercialization of one or more of the products. MANF is in preclinical testing to treat PD and NuroPro is expected to begin Phase II testing to diagnose and manage the progression of PD as early as the end of 2Q12. Terms were not disclosed. ...