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SAN FRANCISCO and GENEVA, July 27, 2015 (GLOBE NEWSWIRE) -- Amarantus Diagnostics, a neurology-focused diagnostics company developing diagnostic tests for multiple sclerosis and Alzheimer's disease and a wholly-owned subsidiary of Amarantus Bioscience Holdings, Inc. (OTCQX:AMBS), announced that it has established a Strategic Advisory Committee (SAC). Three seasoned, results-driven life science and healthcare industry leaders with expertise in commercializing molecular diagnostics have been appointed to focus on advancing and deriving the full value of the company's diagnostics business: Philippe Goix, Ph.D., MBA; Steven T. Guillen, MBA; and Brian E. Ward, Ph.D.
"Establishing an advisory committee tasked with completing and executing a robust value creation strategy for Amarantus Diagnostics has been an important objective in order to drive a significant return on the investment in Amarantus Diagnostics that we have made over the last three years," said Gerald E. Commissiong, President & CEO of Amarantus Bioscience Holdings. "This team of advisors has a proven track record of strategically extracting commercial profitability by advancing companies and their products through a robust commercialization pathway. These skills will be instrumental as we mature the neuro-diagnostics business into a powerhouse in the life sciences industry."
Dr. Goix commented, "Amarantus Diagnostics has groundbreaking neuro-diagnostic tools which may ultimately be game-changers for the diagnosis of multiple sclerosis (MS) and Alzheimer's disease (AD). I am excited to help the team finalize the commercial plans for the company's MSPrecise® diagnostic for MS which has significant near-term revenue potential. Additionally, the recent data presented at AAIC validating the LymPro Test® raises its potential importance as one of the fundamental diagnostic tools in Alzheimer's drug development for use in biomarker-supported selection of AD patients for clinical trials, and we will be very focused on optimizing IUO marketing and CLIA strategy for LymPro. Both MSPrecise and LymPro are key diagnostic assets with great potential for improving the investigational and commercial paradigms for the diagnoses of MS and AD."
Dr. Goix has over 15 years of international experience in strategic operations and commercialization focused on building companies with diagnostic tool technology platforms. He is the former President and Chief Executive Officer of Singulex, Inc., a commercial healthcare delivery and diagnostics company focused on providing assay-based clinical diagnostics services to physicians for chronic disease management. At Singulex Dr. Goix was responsible for raising over $70M of equity capital, advancing the company into an IPO process and driving revenue to over $60M annually. He was also the founder of Guava Technologies, Inc., where he served as a director, President and CEO, and Chief Technical Officer. While at Guava, Dr. Goix raised $27M in equity capital and led a team that successfully launched Guava's profitable whole-cell analysis system.
"I believe MSPrecise will be an important assay for physicians in identifying patients with relapsing-remitting multiple sclerosis, especially given the high rate of misdiagnosis of this chronic and extremely debilitating disease. I look forward to providing the leadership and guidance towards enhancing the strategy to move MSPrecise forward into a CLIA-enabling validation studies as an example of how next generation sequencing (NGS) can make meaningful and valuable improvements to diagnostic standards in significant indications," added Dr. Ward.
Dr. Ward has over three decades of experience in the life sciences industry and has created multiple fully accredited clinical diagnostic laboratories from conception to successful operation in highly competitive markets in numerous diagnostic categories. He is the Founder and Principal at Advantage Genomics, a private consulting firm that provides strategic and tactical consulting services within the biotechnology sector with expertise in the discipline of medical diagnostics. Formerly, Dr. Ward was President and CEO of diaDexus, a company with a demonstrated record revenue performance focused on development and commercialization of proprietary diagnostic products addressing unmet needs in cardiovascular disease. Prior to diaDexus he was the Chief Operations Officer and Executive Vice President at On-Q-ity Inc., a company dedicated to developing a new scientific diagnostics platform to improve cancer care. Dr. Ward was previously Senior Vice President, Development, at Genomic Health and served as Senior Vice President of Medical Genetic Services and Operations at Myriad Genetics.
Mr. Guillen is a market and customer-driven biotech/diagnostic executive with a successful track record of creating winning marketing strategies in highly competitive medical device, pharmaceutical, specialty pharmaceutical, and diagnostic kits and services environments. He is the former President and Chief Executive Officer of MedX Health Corporation, a leading medical device company focused on non-invasive diagnostic devices for skin cancer, where he successfully developed and executed strategies to re-invigorate growth. Prior to MedX he was the Chief Executive Officer of OXIS International, Inc., where he led the turnaround of an asset rich publicly-traded company with products in diagnostics, therapeutics, and nutraceuticals to grow existing product revenues from $2M to $6M in his first year, acquired a private diagnostic company and directed the merger of the two organizations.
Mr. Guillen concluded, "The advancement of Amarantus Diagnostics' leading assets, MSPrecise and LymPro, will enable us to expand our portfolio and begin to unlock further potential with the Georgetown blood-based biomarkers for Alzheimer's and memory loss. Success in navigating through the regulatory and commercial pathways for these exciting products will enable the company to realize the inherent value in these assets and emerge as a premier diagnostics company that addresses the significant shortcomings that exist in accurately diagnosing and treating these devastating diseases where early intervention could have an important impact on individuals and their families."
Amarantus BioScience Holdings previously disclosed that it is exploring strategic options for Amarantus Diagnostics, including potential sale, co-development or spinoff opportunities, to derive the full value from its neuro-diagnostics business.
About Amarantus BioScience Holdings, Inc.
Amarantus BioScience Holdings (OTCQX:AMBS) is a biotechnology company developing treatments and diagnostics for diseases in the areas of neurology and orphan diseases. AMBS' Therapeutics division has development rights to eltoprazine, a small molecule currently in a Phase 2b clinical program for Parkinson's disease levodopa-induced dyskinesia and with the potential to expand into adult ADHD and Alzheimer's aggression. The Company has an exclusive worldwide license to intellectual property rights associated to Engineered Skin Substitute (ESS), an orphan drug designated autologous full thickness skin replacement product in development for the treatment of severe burns currently preparing to enter Phase 2 clinical studies. AMBS owns the intellectual property rights to a therapeutic protein known as mesencephalic-astrocyte-derived neurotrophic factor (MANF) and is developing MANF as a treatment for orphan ophthalmic disorders, initially in retinitis pigmentosa (RP). AMBS also owns the discovery of neurotrophic factors (PhenoGuard™) that led to MANF's discovery.
AMBS' Diagnostics division owns the rights to MSPrecise®, a proprietary next-generation DNA sequencing (NGS) assay for the identification of patients with relapsing-remitting multiple sclerosis (RRMS) at first clinical presentation, has an exclusive worldwide license to the Lymphocyte Proliferation test (LymPro Test®) for Alzheimer's disease, which was developed by Prof. Thomas Arendt, Ph.D., from the University of Leipzig, and owns intellectual property for the diagnosis of Parkinson's disease (NuroPro).
Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are forward-looking statements. These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.
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