NEW YORK (GenomeWeb) – Amarantus Bioscience said today that it has reacquired the rights to three neurology diagnostic tests from Avant Diagnostics.
Amarantus has reacquired LymPro Test, MSPrecise, and NuroPro. Under the terms of the deal, Amarantus will cancel all liabilities, totaling about $722,000, owed by Avant. Amarantus will issue to Avant 1 million shares of its common stock, and Avant will issue to Amarantus an additional 32 million shares of its common stock as a repayment of debt.
Amarantus said it plans to assign the diagnostic assets to a new subsidiary.