FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Amarantus Announces Issuance of Chinese Patent Covering the Use of MANF and CDNF in Retinal Disorders for Subsidiary MANF Therapeutics.”
Amarantus Bioscience Holdings, Inc. (OTC: AMBS), a US-based JLABS-alumnus biotechnology holding company developing proprietary orphan neurologic, regenerative medicine and ophthalmic therapies and diagnostics through its subsidiaries, today announced that subsidiary MANF Therapeutics has been issued a Chinese patent covering the use of mesencephalic astrocyte-derived neurotrophic factor (MANF) and/or cerebral dopamine neurotrophic factor (CDNF) for the treatment of retinal disorders. MANF Therapeutics is focused on the development of MANF as an intravitreal injection for the treatment of glaucoma, macular degeneration, retinitis pigmentosa and Wolfram Syndrome.
Amarantus Bioscience Holdings is a JLABS alumnus biotechnology company developing treatments and diagnostics for diseases in the areas of neurology, regenerative medicine and orphan diseases through its subsidiaries. The Company‘s 80.01%-owned subsidiary Breakthrough Diagnostics, Inc., currently a joint venture with Todos Medical, Ltd. has licensed intellectual property rights to the Alzheimer’s blood diagnostic LymPro Test ® from Leipzig University that was originally developed by Dr. Thomas Arendt, as well as certain rights to multiple sclerosis diagnostic MSPrecise™ and Parkinson’s diagnostic NuroPro. Amarantus entered into a joint venture agreement with Todos Medical, Ltd. to advance diagnostic screening assets, and Todos has exercised its exclusive option to acquire Amarantus’ remaining ownership in Breakthrough in exchange for approximately 50% ownership of Todos. The transaction is expected close before the end of the first quarter of 2020. Amarantus also owns approximately 30% of the common shares of Avant Diagnostics, Inc., a healthcare data-generating technology company that specializes in biomarker assay services that target multiple areas of oncology. Avant provides precision oncology data through its TheraLink® assays to assist the biopharmaceutical industry and clinical oncologists in identifying likely responders, initially for breast cancer, to over 70 FDA-approved drug treatments.
There is an alarming increase in the frequency of eye-related diseases, particularly in developed countries, which in turn is expected to drive the growth of the global retinal drugs market. There are many types of retinal diseases: some of these diseases involve only the macula (central part of the retina) such as age-related macular degeneration; other diseases can impact the entire retina such as retinal detachment or diabetic retinopathy. Overall, data published by the American Academy of Ophthalmology in 2016 shows that about 93 million people had diabetic retinopathy worldwide, of which, 4.2 million patients were from the U.S. And according to Grand View Research, the global retinal disorder treatment market size was valued at USD 8.8 Billion in 2018. Additionally, it is expected to register a CAGR of 7.6% over the forecast period. Generally, the market growth can be primarily attributed to the increased funding by regulatory bodies for conducting research on ocular disorders.
Several initiatives have been commenced around the globe to spread awareness about diagnosis and treatment methods of ophthalmic diseases. The International Centre for Eye Health focuses on growing mindfulness about eye health problems and treatments. In the meantime, the World Glaucoma Association has been positioning the World Glaucoma Congress for the past six years to increase awareness and conversation about glaucoma treatment advancements. And the Macular Degeneration Association, Inc. arranges seminars every month across various regions to increase treatment penetration for age-related macular degeneration. In addition, technological advancements and increasing strategic collaborations are some of the other factors expected to drive the market for retinal disorder treatments. For example, in October 2018, Ophthotech Corporation (IVERIC bio) entered into an agreement with the University of Florida Research Foundation and the University of Pennsylvania to develop and commercialize an adeno-associated virus (AAV) gene therapy product for the treatment of Best Vitelliform Macular Dystrophy (BVMD).
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