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Amarantus Enters into a Letter of Intent to Acquire Certain Biotechnology Assets from SeD BioMedical Inc.
Amarantus Enters into a Letter of Intent to Acquire Certain Biotechnology Assets from SeD BioMedical Inc..
About this update from Amarantus Bioscience Holdings, Inc.
[{"type":"text","content":"\n\n\n\nAmarantus Enters into a Letter of Intent to Acquire Certain Biotechnology Assets from SeD BioMedical Inc.\n\n\n\n\n\nAmarantus Enters into a Letter of Intent to Acquire Certain Biotechnology Assets from SeD BioMedical Inc.\nPR Newswire\nSINGAPORE and SAN FRANCISCO, February 27, 2017\n\n\n\nSINGAPORE and SAN FRANCISCO, February 27, 2017 /PRNewswire/ --\n\n\n\nAmarantus evaluating four SeD BioMedical assets for potential acquisition into its portfolio of biotechnology assets \n\nLOI contemplates capital infusion into Amarantus to assist in restructuring and long term growth plan for building shareholder value \n\nAmarantus names four new appointees to its Board of Directors and names Ronald Wei interim-CFO of Amarantus \n\n\nSeD Biomedical Inc. (SeD Biomedical), a Singapore-based wholly owned subsidiary of Singapore eDevelopment Limited (SGX:40V),  focusing in the area of biomedical product development, and Amarantus BioScience Holdings, Inc. (OTCPK: AMBS), a US-headquartered biotechnology company focused on developing products for Regenerative Medicine, Neurology and Orphan Diseases, today announced that both companies have entered into a non-binding Letter of Intent (\"LOI\") for Amarantus to acquire as many as four of SeD Biomedical's biotechnology platforms.  SeD Biomedical and its Singapore-based holding company, SeD, are under the control of current SeD CEO and largest shareholder Mr. Chan Heng Fai. The LOI comes as part of the Amarantus' overall restructuring plan initiated in November, 2016. Dominick & Dickerman, a New York-based investment banking and advisory firm founded in 1870, is serving as financial advisor to Amarantus for the restructuring and potential asset acquisitions.\n\nINTRODUCTION \n\nOn February, 27, 2016, the Board of Directors of Singapore eDevelopment Limited (\"SeD\") announced that its subsidiary, namely, SeD BioMedical Inc. (\"SeD Biomed\"), has entered into a non-binding letter of intent (\"LOI\") with Amarantus BioScience Holdings, Inc. (\"Amarantus\") (OTCPK: AMBS) in relation to:\n\n(1) a bridge financing for Amarantus (the \"Bridge Financing\"); and\n\n(2) an asset investment into Amarantus (the \"Asset Investment\").\n\nThe LOI is intended to be a basis for further negotiations and does not constitute any legally binding obligations.\n\nPRINCIPAL TERMS...