NEW YORK, April 05, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Amarantus Bioscience Holdings, Inc. (OTC Pink:AMBS) (the "Company" or AMBS), a US-based
JLABS-alumnus biotechnology holding company, developing first-in-class orphan neurologic, regenerative medicine and ophthalmic
therapies through its subsidiaries, today announced the appointment of Barney Monte as interim Chief Operating Officer and Chief
Financial Officer. Mr. Monte brings over 20 years of capital markets experience to Amarantus, including 15+ year in investment
banking and is being brought into Amarantus to assist in completing the Company's restructuring plan and concurrent capital raise
via regulations created under JOBS Act. Concurrently, the Company promoted Brian E. Harvey, MD, PhD to the role of Chief Regulatory
Advisor, assisting the Company's subsidiaries in updating their regulatory strategy in preparation for launching the next phase of
their respective clinical development programs. Dr. Harvey brings over 30 years of biopharmaceutical experience to Amarantus,
including over 11 years at the US Food & Drug Administration (FDA).
"I believe Amarantus represents a tremendous opportunity provided the Company can navigate the completion of its
restructuring process and related capital raise," said Barney Monte, Interim-COO/CFO of Amarantus. "The assets that underpin the
Company's subsidiaries have significant potential to improve or replace the standard of care in compelling therapeutic areas, with
limited or no competition on the market. I believe the value inherent in the subsidiaries will drive Amarantus' value and ability
to complete its restructuring and capital raising efforts."
Mr. Monte has over 20 years of experience in the financial services industry where he has held senior level
positions within investment banking and private equity. Mr. Monte co-founded Ozado Partners LLC, a direct investment and merchant
banking business, where he was responsible for sourcing, structuring and negotiating investment opportunities across various
industries, including the acquisition of an ~80 megawatt natural gas-fired combined cycle power plant and cogeneration facility.
Prior to co-founding Ozado Partners, Mr. Monte's senior-level investment banking positions included head of International and Asia
investment banking for a middle market focused U.S. based broker-dealer. Over his tenure, Mr. Monte has acted as a principal and
agent in assisting companies raise private capital, IPOs, secondary offerings, debt offerings and M&A advisory services where
he has invested, raised or advised on over $10.0 billion worth of transactions. Mr. Monte graduated from Skidmore College with a
Bachelor of Science in Business Administration with a concentration in Finance.
"Having been involved in many development programs while at the agency, as well as the Biopharmaceutical
industry, I believe that the Amarantus portfolio is impressive, especially given that each therapeutic asset has received orphan
drug designations from FDA," said Brian E. Harvey, MD, PhD. "I am looking forward to helping guide the regulatory strategy of each
subsidiary, so that as new medical and management teams are brought in to drive development forward, they have a sound regulatory
strategy upon which to build."
Dr. Harvey recently served as Vice President of U.S Regulatory Strategy at Pfizer, where he led U.S. FDA
regulatory interactions across all Pfizer business units and was a member of the CEO's Senior Leadership Council (SLC). He led the
Pfizer efforts on the PhRMA Regulatory Affairs Coordinating Committee (RACC). In addition, he was responsible for supervisory
oversight of U.S. Regulatory Policy & Intelligence functions and the U.S. Advertising & Promotion activities. He played an early
role in PDUFA VI Preparation, the PhRMA Steering Committee and the 21st Century Cures initiatives.
Prior to his time at Pfizer, Dr. Harvey served as Vice President of Regulatory Policy at Sanofi, where he was
the head Liaison with U.S. Food and Drug Administration (FDA), served on the International Biologics and Biotechnology Taskforce
and Biologics Key Issues Team, was on the Biotechnology Industry Organization (BIO) Regulatory Affairs Committee (RAC). He was the
Signatory authority for Sanofi written comments to the FDA docket and was a Member of the Sanofi Policy Development Committee.
Prior to Sanofi, Dr. Harvey spent 11 years with FDA in increasing positions of responsibility across the
organization including Center for Drug Evaluation and Research (CDER), Center for Biologics Evaluation and Research (CBER) and the
Center for Devices and Radiological Health (CDRH). From 2000 to 2001, Dr. Harvey served as an American Political Science
Association (APSA) Congressional Fellow on behalf of FDA. Dr. Harvey received his PhD, then MD from the University of
Connecticut.
His Internal Medicine Internship and Residency at Beth Israel Hospital/Harvard was followed by a 3-year
Gastroenterology/Hepatology Fellowship at Johns Hopkins Hospital prior to joining FDA.
About Amarantus Bioscience Holdings, Inc.
Amarantus Bioscience Holdings (AMBS), a JLABS alumnus company, is a biotechnology company developing treatments
and diagnostics for diseases in the areas of neurology, regenerative medicine and orphan diseases through its subsidiaries. AMBS'
wholly-owned subsidiary Elto Pharma, Inc. has development rights to eltoprazine, a Phase 2b-ready small
molecule indicated for Parkinson's disease levodopa-induced dyskinesia, Alzheimer's aggression and adult attention deficit
hyperactivity disorder, commonly known as ADHD. AMBS acquired the rights to the Engineered Skin Substitute program, a regenerative
medicine-based approach for treating severe burns with full-thickness autologous skin grown in tissue culture that is being pursued
by AMBS' wholly-owned subsidiary Cutanogen Corporation. AMBS' wholly-owned subsidiary MANF Therapeutics,
Inc. owns key intellectual property rights and licenses from a number of prominent universities related to the development of the
therapeutic protein known as mesencephalic astrocyte-derived neurotrophic factor ("MANF"). MANF Therapeutics,
Inc. is developing MANF-based products as treatments for brain and ophthalmic disorders. MANF was discovered by the
Company's Chief Scientific Officer John Commissiong, PhD. Dr. Commissiong discovered MANF from AMBS' proprietary discovery engine
PhenoGuard. AMBS also owns approximately 79.25 million shares of Avant Diagnostics, Inc. (OTC Pink:AVDX) via the sale of its
wholly-owned subsidiary Amarantus Diagnostics, Inc. that occurred in May 2016.
For further information please visit www.Amarantus.com, or connect with the Amarantus on Facebook, LinkedIn, Twitter and Google+.
About Elto Pharma, Inc.
Elto Pharma, Inc. is developing Eltoprazine, an oral small molecule 5HT1A/1B partial agonist in clinical
development for the treatment of Parkinson's disease levodopa-induced dyskinesia (PD-LID), Alzheimer's aggression and adult
attention deficit hyperactivity disorder (adult ADHD). Eltoprazine has been evaluated in over 680 human subjects to date, and has a
well-established safety profile, with statistically significant efficacy results across multiple central nervous system
indications. Eltoprazine has received orphan drug designation (ODD) from the US FDA for the treatment of PD-LID.
Eltoprazine was originally developed by Solvay (now Abbvie) in aggression-related indications. The eltoprazine
program was out-licensed to PsychoGenics, Inc. (PGI). PGI licensed eltoprazine to Amarantus in 2014 after a successful
proof-of-concept trial in PD-LID.
In April 2017, Amarantus incorporated the wholly-owned subsidiary Elto Pharma, Inc. for the purpose of raising
capital to finance the further clinical development of Eltoprazine.
About Cutanogen Corporation
Engineered Skin Substitute (ESS) is a tissue-engineered skin prepared from autologous (patient's own) skin
cells. It is a combination of cultured epithelium and a collagen-dermal fibroblast implant that produces a skin substitute which
contains both epidermal and dermal components. This model has been shown in preclinical studies to generate a functional skin
barrier. Most importantly, because ESS is composed of a patient's own cells, it is less likely to be rejected by the immune system
of the patient, unlike with porcine or cadaver grafts in which immune system rejection is a possibility. A non-GMP version ESS has
been used in investigator-initiated and compassionate-use clinical settings in over 150 human subjects, primarily pediatric
patients, for the treatment of severe burns up to 95% of total body surface area. The non-GMP version has also been used in the
treatment of two patients with Giant Congenital Melanocytic Nevi (GCMN).
In July 2015, Amarantus' acquired Lonza Walkersville's wholly-owned subsidiary Cutanogen Corporation, the sole
licensor of intellectual property rights to ESS from Cincinnati's Shriner's Hospital for Children and the University of Cincinnati.
Cutanogen Corporation is a wholly-owned subsidiary of Amarantus.
About MANF Therapeutics, Inc.
MANF (mesencephalic-astrocyte-derived neurotrophic factor) is believed to have broad potential because it is a
naturally-occurring protein produced by the body to reduce/prevent apoptosis (cell death) in response to injury or disease, via the
unfolded protein response. By administering exogenously produced MANF the body, Amarantus is seeking to use a regenerative medicine
approach to assist the body with higher quantities of MANF when needed. Amarantus is the frontrunner and primary holder of
intellectual property around MANF, and is initially focusing on the development of MANF-based protein therapeutics.
In April 2017, Amarantus incorporated the wholly-owned subsidiary MANF Therapeutics, Inc. to focus on the
preclinical and clinical development of MANF. MANF's lead indication is retinitis pigmentosa, and additional indications including
Parkinson's disease, diabetes and Wolfram's syndrome are envisioned. Further applications for MANF may include Alzheimer's disease,
traumatic brain injury, myocardial infarction, antibiotic-induced ototoxicity and certain other orphan diseases.
Forward-Looking Statements
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
includes 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.
Amarantus Investor and Media Contact:
Howard Gostfrand
American Capital Ventures, Inc.
Office: 305-918-7000
Email: hg@amcapventures.com