© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Avant Diagnostics and Amarantus Diagnostics to Combine with Theranostics Health
Posted 7th March 2016

Avant Diagnostics and Amarantus Diagnostics to Combine with Theranostics Health

Avant Diagnostics, Inc, a biotechnology company focused on the development of oncology based diagnostics, and Amarantus Diagnostics, Inc, a wholly-owned subsidiary of Amarantus BioScience Holdings, Inc, today announced that the companies have jointly entered into a letter of intent for Avant to acqu

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Avant Diagnostics and Amarantus Diagnostics to Combine with Theranostics Health
Image

Avant Diagnostics, Inc., a biotechnology company focused on the development of oncology based diagnostics, and Amarantus Diagnostics, Inc, a wholly-owned subsidiary of Amarantus BioScience Holdings, Inc, today announced that the companies have jointly entered into a letter of intent for Avant to acquire assets and certain liabilities of Theranostics Health Incorporated, adding key CLIA laboratory and intellectual property capabilities to Avant’s previously announced letter of intent to merge with Amarantus Diagnostics (collectively, the “Transactions”).

THI currently generates over $1.5M in services revenue from some of the world’s leading biopharmaceutical companies, including 7 of the top 10 pharmaceutical companies by revenue. The companies will be holding a conference call to discuss the business combination today at 4:30 PM ET. To access the conference call please dial 215-383-1625 or toll free 800-356-8278; access code 135394.

Under the terms of the letter of intent, Avant shall issue to THI 25 million shares of its common stock upon the closing. Amarantus BioScience has provided a convertible note of $400,000 to THI to facilitate the transaction that will be assumed by Avant upon closing of the transactions. As previously disclosed, Avant plans to issue 80 million shares of its common stock to Amarantus Biosciences upon completion of its merger with Amarantus Diagnostics. The Transactions are expected to close in the first half of 2016, and are subject to customary closing conditions.

Gerald E. Commissiong, President & CEO of Amarantus said:

“THI is a leader in the area of signal transduction biology, where they have been able to attract an A-list of pharmaceutical customers collaborating with the company to evaluate the therapeutic benefit and potential of their drug candidates using THI’s proprietary assays.

“In addition, THI has a CLIA lab where Amarantus’ Diagnostics has established operations over the course of the first quarter that will allow for CLIA validation and commercial launch of the combined company’s suite of high-value, proprietary diagnostics in the areas of oncology and neurology. THI’s sales channel into the pharmaceutical industry will provide important leverage for the combined company to market the LymPro Test® for Alzheimer’s disease. We could not have picked a better partner to bring Avant and Amarantus’ Diagnostics leading-edge intellectual property in diagnostics and biomarkers to the market.”

Gregg Linn, President & CEO of Avant Diagnostics added:

“Key to the business case for the merged company is THI’s impressive pharma services revenue base and sales channel in the area of cell signaling biology. In addition to this, THI’s CLIA laboratory provides the combined company with the infrastructure to launch OvaDx®, MSPrecise® and LymPro Test in a regulatory compliant environment that has been vetted by some of the world’s top pharmaceutical companies. THI’s laboratory meets the highest quality standards under CLIA/CAP which should give both our pharmaceutical and commercial customers great confidence in the information generated in THI’s laboratory.”

THI’s core business is centred on providing pharmaceutical and biotechnical companies access to its technology for quantitatively measuring the activation status of key proteins and signal transduction pathways that are dysregulated in multiple disease processes via its Reverse-phase Protein Array (RPPA) platform. THI is experienced in running CAP-accredited assays in its CLIA laboratory for predicting response to therapies in difficult to treat cancers.  THI believes that, while genomic approaches may identify potential activating mutations in diseased tissues, measuring the actual activation status of the protein drug targets and the signal transduction pathways that they regulate, provides physicians with much-needed evidence that a particular therapeutic strategy can provide benefits to the patient.  THI has launched tests, TheraLink® Assays, for guiding therapeutic decisions in breast and colorectal cancer. The post-merger Avant Diagnostics will further build on its recognized scientific expertise in the area of cell cycle biology to increase its pharma services revenues and provide therapy guiding diagnostics in difficult to treat conditions.

Glenn Hoke, PhD, Chief Executive Officer of THI added:

“After an extensive evaluation of the diagnostics market, we believe that we have found the best potential partners in Avant and Amarantus. It is clear that we will be expanding our CLIA offerings with much needed tests such as OvaDx in cancer and MSPrecise in neurology, while also providing significant additional pharma services business development opportunities with the LymPro Test. With platforms in microarray proteomics, ELISA, flow cytometry and ‘next-gen’ sequencing, the combined company’s capabilities will allow it to add cross-platform diagnostics as we grow into the future.”

 

 

Categories: Innovation, M&A, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
How to Scale Your Business
News
20/03/2023How to Scale Your Business

Making a success of a business in the long term means having a strategy for growth. Without such a strategy, there’s a risk that you’ll expand in the wrong way, and have to go to the hassle and expense of a restructuring later on.

Read Full PostRead - Eye Icon
HMRC under fire for 11 ‘serious’ personal data breaches affecting over 20,000 people
Legal
09/12/2020HMRC under fire for 11 ‘serious’ personal data breaches affecting over 20,000 people

Law firm accuses taxman of ‘breath-taking incompetence’ over catalogue of data loss incidents affecting tens of thousands of members of the public.

Read Full PostRead - Eye Icon
Minimum Wage Workers Will Be Hit by Chancellor’s Cuts, Says TUC
Strategy
17/03/2015Minimum Wage Workers Will Be Hit by Chancellor’s Cuts, Says TUC

TUC General Secretary spoke about new minimum wage rates.

Read Full PostRead - Eye Icon
Unlocking the Secret of Vault Rooms
Strategy
14/02/2018Unlocking the Secret of Vault Rooms

Trusted by accounting firms, investment banks, private equity firms, law firms and many others for well over a decade, Vault Rooms offers secure file sharing behind layers of bank-level security.

Read Full PostRead - Eye Icon
Generational Equity Announces the Acquisition of The HR Group Inc. by JER HR Consulting LLC
M&A
22/03/2016Generational Equity Announces the Acquisition of The HR Group Inc. by JER HR Consulting LLC

Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of its client, The HR Group Inc. headquartered in Greensboro, North Carolina.

Read Full PostRead - Eye Icon
The Importance of Mastering Membership Renewal
News
04/03/2024The Importance of Mastering Membership Renewal

Renewing association membership critically sustains organizational growth and fosters member engagement. Associations, as they navigate the complexities of membership management, frequently face challenges to ensure high renewal rates. It is paramount for them

Read Full PostRead - Eye Icon
Are You an Intrapreneur? You Could Be Priceless to the Right Business
Leadership
02/04/2024Are You an Intrapreneur? You Could Be Priceless to the Right Business

Millennials and Generation Z are natural entrepreneurs but may not have the resources to start their own businesses, so many established organisations are increasingly awakening to the value of intrapreneurship, the act of behaving like an entrepreneur while w

Read Full PostRead - Eye Icon
The Role Of Custom Moulding In Global Acquisition Strategies
News
26/10/2023The Role Of Custom Moulding In Global Acquisition Strategies

In today's fast-paced industrial landscape, acquisition strategies have become the lifeblood for many companies aiming to expand their global footprint.

Read Full PostRead - Eye Icon
Spotlight on Mike Lord, CEO of Stiltz Home Lifts
News
21/01/2021Spotlight on Mike Lord, CEO of Stiltz Home Lifts

ood leadership has become an utterly crucial variable in business success over the last year. The COVID-19 pandemic has proven to be a baptism of fire for young businesses and challenged established companies to be adaptive and agile in a time defined by uncer



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow