SOURCE: Amarantus BioSciences

Amarantus BioSciences

July 12, 2011 09:00 ET

Amarantus BioSciences and Generex Biotechnology Announce Collaboration to Treat Pre-Diabetes

WORCESTER, MA and SUNNYVALE, CA--(Marketwire - Jul 12, 2011) - Amarantus BioSciences (OTCBB: AMBS), a California-based biotechnology company developing a first-in-class anti-apoptosis therapeutic protein known as MANF, and Generex Biotechnology, Inc. (OTCBB: GNBT), a Toronto-based biotechnology company developing an oral-insulin spray technology known as Oral-lyn™ currently in Phase III clinical trials, today announced that the companies have selected the development of a MANF-based therapeutic for the treatment of the beta cell destruction at the root of diabetes as the second program for their joint research collaboration announced on May 31, 2011. The first collaboration program announced on June 8, 2011 is for the development of a MANF-based diagnostic test to identify a sub-population at risk of developing Type 1 or Type 2 diabetes.

"Taken together with the MANF-based early diabetes detection diagnostic, the potential therapeutic-diagnostic combination would represent a major step forward in the ability for physicians to manage the health of those persons most at risk of developing diabetes," said Dr. James Anderson, Senior Scientific Advisor and Director of Generex. "The development of a MANF-based therapeutic that would be administered using Generex' proprietary RapidMist™ technology, and potentially be used in combination with Oral-lyn™, would represent a significant, new competitive advantage over other therapeutic interventions currently being studied and dramatically increase convenience and patient well-being."

"MANF's profile of activity indicates that it has significant potential to impact the beta cell dysfunction at the root of impaired insulin secretion in patients leading to clinical diabetes," said Dr. John Commissiong, Chief Scientific Officer of Amarantus. "MANF's ability to correct protein misfolding and mitigate apoptosis may slow or prevent the progression of patients with beta cell dysfunction into full blown diabetes."

"The partnership with Generex will allow Amarantus to exploit its technologies in the field of diabetes through its wholly-owned subsidiary Amarantus MA," said Martin D. Cleary, Chairman & CEO of Amarantus. "These collaboration programs are a major step toward the validation of the enormous potential of the MANF platform that Amarantus is judiciously advancing for the treatment of the apoptosis associated with a wide range of human disorders, including pre-diabetes and diabetes."

"Given the recent positive preliminary results from our 084 and Prevoral trials with Oral-lyn™, we now believe we better understand the best use for our Oral-lyn™ product and feel it is appropriate to plan for a partnership that will add ground-breaking scientific research to support Generex's future pipeline of diabetes product candidates," said Dr. Gerald Bernstein, Vice President of Medical Affairs for Generex Biotechnology. "Today's announcement affirms our commitment to the potential of our RapidMist™ technology to successfully deliver protein drug candidates to treat diabetes."

About Amarantus BioSciences, Inc.

Amarantus BioSciences, Inc. is engaged in the research and development of first-in-class disease-modifying treatments that address the underlying cause of cell death, known as apoptosis, associated with a wide range of diseases. The Company's most advanced product candidate, MANF, is a therapeutic protein indicated for the treatment of Parkinson's disease and Myocardial Infarction. Currently incubating at the Parkinson's Institute in Sunnyvale, CA, Amarantus BioSciences is the recipient of a research grant from The Michael J. Fox Foundation for Parkinson's Research. See www.Amarantus.com.

About Generex Biotechnology Corporation

Generex is engaged in the research, development, and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist™ device. The Company's buccal insulin spray product, Generex Oral-lyn™ is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases. Antigen Express has pioneered the use of specific CD4+ T helper stimulation in immunotherapy. One of its platform technologies relies on inhibition of expression of the Ii protein. Antigen Express scientists, and others, have shown clearly that suppression of expression of the Ii protein in cancer cells allows for potent stimulation of T helper cells and prevents the further growth of cancer cells. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.

Forward Looking Safe-Harbor Statement:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, statements about our plans, strategies, business prospects, and the ongoing and future development of disease modifying treatments. These forward-looking statements may be identified by the use of terms and phrases such as "anticipates," "believes," "can," "could," "estimates," "expects," "forecasts," "intends," "may," "plans," "projects," "targets," "will," and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as planned research and development and the regulatory approval, marketing, and sale of planned future and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a) the risk that our product candidate MANF, which is still under clinical development, may not obtain regulatory approval or be successfully commercialized; (b) the risk that extensive regulatory requirements may limit the scope of future sales or impede successful product commercialization even if we obtain regulatory approval for our product candidate; (c) the risk that we may be unable to arrange for the successful manufacture and commercial supply of our planned product; (d) the risk that MANF, if approved and brought to market, may not be accepted by the medical community; (e) the risk that we may not be successful in undertaking the steps currently planned in order to increase our liquidity and capital resources, resulting in inadequate funding for our planned research and development activities; and (f) other risks and uncertainties described in our filings with the Securities and Exchange Commission.

Neither management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC's web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.

Contact Information

  • Amarantus Contacts:
    Susan Kim
    212-600-1902
    pr@amarantus.com

    Generex Contacts:
    Investor Relations Contacts:
    Generex Biotechnology Corporation
    Todd Falls
    800-391-6755
    tfalls@generex.com

    Media Contact:
    Beckerman Public Relations