NEW YORK (GenomeWeb) – Amarantus BioScience Holdings today said that it closed on a $5 million investment from privately held mutual fund Discover Growth Fund. 

Amarantus plans to use the financing to further develop and commercialize its neurology diagnostic products and therapeutic drug candidates, and for other working capital expenses, it said. In conjunction with the investment, the San Francisco-based company issued a new class of preferred stock, Series G, that is convertible into Amarantus' common stock at a fixed price of $.06 per share. 

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