SUNNYVALE, Calif. -- (BUSINESS WIRE) -- Amarantus BioScience, Inc. (OTCQB: AMBS), a biotechnology company discovering and developing treatments and diagnostics for diseases associated with neurodegeneration and apoptosis centered around its patented therapeutic protein Mesencephalic Astrocyte Neurotrophic Factor (MANF), today announced that the Berlin-Bremen Stock Exchange (BBSE) has complied with the Company’s demand to cease the unauthorized listing of its common stock, and that as of today its shares are no longer traded on the BBSE.
“We are pleased that the Berlin-Bremen Exchange has complied with our demand to end the listing and trading of Amarantus shares,” said Gerald E. Commissiong, President and Chief Executive Officer of Amarantus BioScience “I want to thank the law firm of JS Barkats, PLLC in assisting us with the legal actions necessary to obtain a successful conclusion to this case.”
Sunny J. Barkats, Esq., founding partner of the law offices of JS Barkats stated, “Many small cap issuers are finding their stock listed on the Berlin-Bremen exchange despite no action on their part, and it could affect the company and its shareholders from an arbitrage standpoint. Thanks to M. Teresa Daley, the head of our litigation group, and her negotiation skills, our team of litigators has obtained the delisting of Amarantus from the Berlin exchange in an amicable fashion.”
The BBSE is one of the few exchanges in the world that allows listing and trading to occur without the consent of the listed company. The Company did not authorize or direct any BBSE broker to act as a market maker for the Company's common stock. The Company believes that it is in the best interests of its shareholders to ensure that any listing of the Company's common stock, whether in the U.S. or on a foreign exchange, is sanctioned by the Company so that management is in a position to ensure regulatory compliance regarding regular trading and other trading-related activities with all United States securities laws. Cessation of trading on the BBSE will not affect the Company's common stock listing in the United States, where it trades on the OTCQB platform.
About Amarantus BioScience
Amarantus BioScience, Inc. is a development-stage biotechnology company founded in January 2008. The Company is focused on developing unique products and proprietary technologies for the potential treatment and/or diagnosis of Parkinson's disease, Traumatic Brain Injury, Ischemic Heart Disease and other human diseases. The Company owns the intellectual property rights to Mesencephalic-Astrocyte-derived Neurotrophic Factor ("MANF") and is developing MANF-based products as treatments for neurological disorders where there is a significant unmet medical need. The Company also is a Founding Member of the Coalition for Concussion Treatment (#C4CT), a movement initiated in collaboration with Brewer Sports International seeking to raise awareness of new treatments in development for concussions and related nervous-system disorders. For further information please visit www.Amarantus.com.
About JS Barkats, PLLC
JS Barkats PLLC is a dynamic full-service law firm headquartered in the heart of New York specializing in Corporate, Capital Markets and Securities law. JS Barkats, principally represents both established and publicly traded emerging growth companies, both domestic and foreign, in a wide variety of industries with a strong emphasize in life sciences. With 20 attorneys the firm's synergy between its strong securities and commercial litigation group and its experienced corporate securities team, as well as an established IP department represents, public companies, venture capital firms, start-ups, life sciences companies, investment banking institutions, broker dealers, and high net worth individuals and other investors. For more information visit: www.JSBarkats.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the possible progress of the MANF technology in testing for Parkinson’s disease, as well as statements about expectations, plans and prospects of the development of Amarantus' diagnostic product candidates. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the risks associated with development of therapeutic drug candidates, as well as the risks, uncertainties and assumptions relating to the development of Amarantus' new product candidates, including those identified under "Risk Factors" in Amarantus' most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in other filings Amarantus periodically makes with the SEC. Actual results may differ materially from those contemplated by these forward-looking statements Amarantus does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this presentation.