Amarantus BioScience (AMBS) develops treatments and tests for neurology, regenerative medicine and orphan diseases. Currently, the company is working on an Engineered Skin Substitute (ESS) that could be approved for three separate dermatological conditions. The tissue-engineered skin is created with the patient’s own skin and has epidermal and dermal components, and Amarantus believes ESS could be approved to treat:
- Adult severe burns
- Pediatric severe burns
- Giant Congenital Melanocytic Nevi (GCMN)
Amarantus’ announcement confirmed that the growth and testing components if its confirmatory engineering run are nearing a technical transfer to Lonza Walkersville, Inc., a contract manufacturer, which will allow the biotech company to do a 10-patient trial on full thickness thermal burns covering over 50% of the body. This trial will be done in collaboration with the U.S. Army at Fort Sam Houston in
In addition, just last week, Amarantus received a $3 million investment from an institutional investor. This capital gives the company sufficient spending to push the ESS program through execution phase. Under the terms of the agreement, the investor will be issued $3.3M worth of Series H Convertible Preferred Stock (including 10% original issue discount) from the Company and five year warrants exercisable for 13,200,000 shares of common stock at $0.40 per share.
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