Avant Diagnostics, Inc. (AVDX) Positioned to Expand Clinical Pipeline following Entry into Letter of Intent to Merge with Amarantus Diagnostics
Late last month, Avant Diagnostics, Inc. (OTCQB: AVDX) made headlines when it announced plans to merge with Amarantus Diagnostics, a wholly-owned subsidiary of Amarantus Bioscience Holdings, Inc. (OTCQX: AMBS). Under the terms of the previously announced Letter of Intent, Avant will issue 80 million shares of common stock to Amarantus upon execution of definitive merger agreements, which will represent roughly 45 percent of Avant’s post-merger common stock. An additional 10 million shares of common stock will be transferred upon achievement of predetermined sales milestones. According the company’s news release, the transaction is expected to be finalized in the second quarter…