Amarantus rockets, as it partners with IDEA Pharma
US biotech holding company Amarantus Bioscience Holdings (OTC: AMBS) and UK-based IDEA Pharma have announced a highly original partnership, to bring together Amarantus' innovative therapeutics and diagnostics portfolio with IDEA's industry-leading path-to-market expertise.
News of the agreement sent Amarantus’ shares rocketing 48.37% to $0.04 on Friday.
IDEA, which has supported eight of the 15 biggest biopharmaceutical launches in the past three years, will partner with Amarantus in a novel royalty-split model. The virtual chief commercial officer partnership will provide multi-year commercial strategy to the Amarantus portfolio of companies, with royalties paid to IDEA following successful monetization. The Amarantus/ IDEA Pharma partnership will run for five years, and be renewable upon mutual consent.
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