Tuesday, May 31, 2011

Generex licenses drug technology to Amarantus for $10M

Generex Biotechnology Corp., a life sciences company focused on drug delivery, has licensed the rights to its “RapidMist” technology to Sunnyvale-based Amarantus BioSciences Inc. for a $10 million up-front fee.
Generex, which has offices in Toronto, Canada and Worcester, Mass., developed this technology for the delivery of drugs into the human body through the inner lining of the cheek. Amarantus plans to use the technology to develop a class of drugs that employ a protein that plays a key role in cell death, or apoptosis. Amarantus’ lead product is an early stage drug candidate to treat Parkinson’s disease.

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