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AMBS > SEC Filings for AMBS > Form 8-K on 18-Dec-2013All Recent SEC Filings

Show all filings for AMARANTUS BIOSCIENCE HOLDINGS, INC.

Form 8-K for AMARANTUS BIOSCIENCE HOLDINGS, INC.


18-Dec-2013

Entry into a Material Definitive Agreement, Financial Stateme


Item 1.01 Entry into a Material Definitive Agreement

On December 12, 2013, Amarantus BioScience Holdings, Inc. (the "Company") entered into an Exclusive License Agreement (the "Agreement") with the University of Massachusetts (the "UMass"), pursuant to which the Company was granted an exclusive, worldwide, royalty-bearing license (with a right to sublicense) (the "License") to utilize certain Patent Rights (as defined in the Agreement) of UMass, which includes all intellectual property covering the use of mesencephalic astrocyte-derived neurotrophic factor ("MANF") as both a biomarker and treatment for beta cell degenerating disorders, including Wolfram syndrome, Type-1 diabetes and Type-2 diabetes.

Pursuant to the terms of the Agreement, the Company may utilize the License to develop, have developed, make, have made, use, have used, import, have imported, sell, and have sold the Licenses Products and Licensed Services (as both are defined in the Agreement).

As compensation for receiving the License, the Company shall pay to UMass (i) a non-refundable fee of $35,000 within 15 days of the Effective Date of the Agreement, (ii) a non-refundable fee of $15,000 within 60 days of the Effective Date of the Agreement, and (iii) $10,961.28 to reimburse UMass for all actual expenses incurred as of the Effective Date of the Agreement. Moreover, the Company shall pay UMass a 2% royalty on net sales subject to certain minimum annual royalty amounts.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Amarantus Bioscience Holdings, Inc. Press Release, dated December 18, 2013.

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