Amarantus to Acquire Certain Biotech Assets from SeD BioMedical

SeD Biomedical (SeD Biomedical), a Singapore-based wholly owned subsidiary of Singapore eDevelopment Limited, focusing in the area of biomedical product development, and Amarantus BioScience Holdings, a US-headquartered biotechnology company focused on developing products for regenerative medicine, neurology and orphan diseases, have announced that both companies have entered into a non-binding Letter of Intent (LOI) for Amarantus to acquire as many as four of SeD Biomedical's biotechnology platforms.

SeD Biomedical and its Singapore-based holding company, SeD, are under the control of current SeD CEO and largest shareholder Chan Heng Fai. The LOI comes as part of the Amarantus' overall restructuring plan initiated in November, 2016. Dominick & Dickerman, a New York-based investment banking and advisory firm founded in 1870, is serving as financial advisor to Amarantus for the restructuring and potential asset acquisitions. The LOI is intended to be a basis for further negotiations and does not constitute any legally binding obligations.

Prior to the Asset Investment, SeD Biomed will make available funding to help Amarantus pay down key expenses, and initiate the process of settling Amarantus' outstanding secured debt and convertible preferred equity securities, in addition to Amarantus' accounts payable. The use of funds will be mutually agreed between Amarantus and SeD Biomed.

SeD Biomed currently has not acquired any of the abovementioned biomedical assets, the acquisition of which is still subject to negotiation, appropriate due diligence and the signing of definitive agreement(s).

Each of the Target Assets shall be subject to valuation by an independent expert valuation firm, mutually determined by SeD Biomed and Amarantus. The costs for the independent expert valuation shall be borne solely by Amarantus.