This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

RBCC And Amarantus BioSciences Outline Terms For NuroPro Parkinson's Blood Test Joint Venture

Rainbow BioSciences, the biotech subsidiary of Rainbow Coral Corp. (OTCBB: RBCC), and Amarantus BioSciences, Inc. (OTCQB: AMBS), a biotechnology company developing new disease-modifying treatments and diagnostics for Parkinson’s disease and Traumatic Brain Injury, have finalized the framework of their proposed joint venture (JV) and will execute material definitive agreements within 30 days.

The JV’s first priority will be to advance Amarantus’ NuroPro Parkinson’s Diagnostic Blood Test (“NuroPro”) towards commercialization. NuroPro works by identifying differentiated levels proteins and peptides in the blood of patients who have Parkinson’s disease, versus those who do not.

Under the terms of the pending agreement, RBCC will invest $150,000 in various funding tranches to re-establish the NuroPro 2D Gel platform and re-analyze samples from the previous Phase 1 clinical trial. Thereafter, the JV will further fund the Phase 2 clinical trial. RBCC will be repaid for their investment out of proceeds from the sales generated by NuroPro and will share revenues once the initial investment is repaid. RBCC has received a commitment from private, outside sources to provide the capital necessary to fund the JV.

NuroPro has completed a Phase 1 human clinical trial, and JV will initiate a Phase 2 clinical study upon successfully repeating the Phase 1. Upon completing Phase 2, RBCC and Amarantus expect NuroPro to begin generating revenue through sales under a Clinical Laboratory Improvement Amendment (CLIA) certification.

“We’ve identified valuable upside in NuroPro, and we expect this project to begin paying for itself within a short period of time,” said Amarantus President & CEO Gerald Commissiong. “The ability to advance NuroPro that will simultaneously generate revenue while bolstering our MANF program by allowing our clinical researchers to more efficiently select and monitor Parkinson’s patients in our therapeutic program represents a tremendous opportunity. The timing of initiating the JV will allow us to begin moving NuroPro forward in 2013.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs