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SUNNYVALE, CA—Amarantus BioSciences, Inc. has announced theclosing of a $10 million Equity Funding Facility with Centurion Private Equity,LLC. Amarantus will be able to draw down on the equity funding facility overthe course of the next 36 months in tranches of up to $750,000. This abilitywill be subject to certain conditions and limitations laid out in the company'sagreement, including limitations based on the price and trading volume ofAmarantus' common stock, upon the successful registration of the common sharesunderlying the facility with the Securities & Exchange Commission.Amarantus is a biotechnology company working on the development of MANF, afirst-in-class, disease-modifying therapeutic protein that addresses celldeath, or apoptosis.
 
"This Equity Funding Facility provided by CenturionPrivate Equity is one of the most flexible financing tools available to publicbiotechnology companies seeking to raise capital," Dr. SamuelHerschkowitz, special advisor to the Amarantus Board of Directors, said in apress release. "The strong commercial potential of the MANF platform forParkinson's and other apoptosis-related disorders will require flexiblefinancing tools as the Company lays out its corporate strategy for rapidproduct registration in the U.S. and abroad.
 
"Centurion's financings willprovide the Company with strategic capital to fund its development programswhile maintaining working capital flexibility in various fundraising marketconditions," Herschkowitz continued. "We believe this facility will likely attract additional financingsources for the Company seeking to leverage the value of this facility."
 
 
MANF is a protein known to correct protein misfolding, oneof the leading causes of apoptosis. This ability had afforded MANF a good dealof interest as a potential basis for therapeutic products for the treatment ofdisease. Currently, the lead MANF product development effort is focused ondiscovering a therapy for Parkinson's disease, with funding provided by aresearch grant from the Michael J. Fox Foundation for Parkinson's Research.
 
Amarantus currently has an inventory of 88 cell lines known as "PhenoGuard CellLines," and MANF was the first therapeutic protein discovered from a PhenoGuardCell Line. The company anticipates that additional proteins with therapeuticviability, especially with relation to the central nervous system, will bediscovered within the PhenoGuard Cell Lines. Amarantus is currently examiningthe potential of MANF as a treatment for both Parkinson's disease and ischemicheart disease.
 
 
"This commitment by Centurion Private Equity providestremendous validation of the value proposition that Amarantus represents forpublic market healthcare investors," Martin D. Cleary, chairman and chiefexecutive officer of Amarantus, noted in a press release. "The Companyintends to strategically draw down on this facility in a manner that protectsthe best interests of our shareholders and use the proceeds for core productdevelopment, material transactions such as licensing, mergers, acquisition andother relevant value-added business development opportunities. We intend toseek to identify additional sources of capital to fund the Company'sdevelopment programs in the near-term. This facility provides a compellingrationale to attract the interest of additional institutional investors seekingto mitigate financing risk."
 
 
"Centurion Private Equity is pleased to enter into thisfinancing agreement with Amarantus," said Paul Gorski, Private EquityManager at Centurion, in a press release. "Centurion is pleased to partnerwith Amarantus to unlock the tremendous potential of the MANF platform."
 
 
SOURCE: Amarantus BioSciences press release

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