NEW YORK (GenomeWeb) – Amarantus Bioscience said today that it has reacquired the rights to three neurology diagnostic tests from Avant Diagnostics.
Amarantus has reacquired LymPro Test, MSPrecise, and NuroPro. Under the terms of the deal, Amarantus will cancel all liabilities, totaling about $722,000, owed by Avant. Amarantus will issue to Avant 1 million shares of its common stock, and Avant will issue to Amarantus an additional 32 million shares of its common stock as a repayment of debt.
Amarantus said it plans to assign the diagnostic assets to a new subsidiary.
LymPro Test is used to determine the ability of peripheral blood lymphocytes and monocytes to withstand an exogenous mitogenic stimulation that induces them to enter the cell cycle. Aberrant cell cycle reentry by neurons is believed to be associated with certain diseases, such as Alzheimer's, Amarantus said.
MSPrecise, a next-generation sequencing-based assay, identifies patients with relapsing-remitting multiple sclerosis at first clinical presentation. NuroPro is a blood-based test that monitors the concentration of protein biomarkers that have been linked to ailments, including Alzheimer's, ALS, and Parkinson's disease.