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Amarantus Enters Into Agreement to License Diverse Therapeutics Portfolio to CBD-focused Emerald Organic Products
Amarantus Enters Into Agreement to License Diverse Therapeutics Portfolio to CBD-focused Emerald Organic Products.
About this update from Healixa Inc.
[{"type":"text","content":"\n  Amarantus is receiving Emerald Preferred Stock with a minimum value of $100M in 2022 Treatment candidates are for Alzheimer’s, ADHD, Parkinson’s, severe burns and vision loss Portfolio includes two Phase 3-ready programs NEW YORK, NY, Oct. 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Amarantus Bioscience Holdings, Inc. (OTC Pink: AMBS) (“Amarantus,” or AMBS), a US-based JLABS-alumnus biotechnology holding company developing proprietary orphan neurologic, regenerative medicine and ophthalmic therapies and diagnostics through its subsidiaries, today announced it has entered into a binding term sheet to license its therapeutic assets to Emerald Organic Growth, Inc. (OTCPK: EMOR) (“Emerald” or EMOR), a fully-integrated, CBD-based health sciences company launching branded products via its nationwide distribution channels. Amarantus will receive Emerald Preferred Stock to be valued at a minimum of $100M in 2022, and up to double digit royalties (in addition to passthrough royalties and milestones) in exchange for worldwide, exclusive development and commercial rights to eltoprazine, engineered skin substitute (ESS), mesencephalic astrocyte-derived neurotrophic factor (MANF) and PhenoGuard. Key Amarantus team members will incubate Emerald’s emerging life sciences unit. The transaction is subject to customary closing conditions and the consent of certain Amarantus stakeholders. “We see tremendous value in Amarantus’ diverse portfolio of therapeutic assets that has received a total of over $150 million in research & development investment to date, and has produced two Phase 3-ready product candidates in the areas of neurology and severe burns that together have received combined independent valuations of over $500 million and are targeting market opportunities of over $35B annually,” said Ian Parker, President & CEO of Emerald. “With the addition of the Amarantus portfolio and key personnel, we are furthering our commitment to changing the paradigm of health and wellness. We believe there will be tremendous synergies over time between our consumer health and biopharmaceutical divisions, and can imagine a time when the combination of consumer cannabis-based products and FDA-regulated drugs could lead to improved outcomes for consumer...