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Amarantus Bioscience Holdings (AMBS) recently announced a non-binding term sheet to sell its Engineered Skin Substitute subsidiary, Cutanogen Corporation. This transaction aims to extinguish between $21.5 million and $25.3 million of secured and unsecured debt. In exchange, AMBS will transfer its subsidiary and 50 million shares of Todos Medical Ltd. common stock. Acting CEO Donald Huffman highlighted this sale as a crucial step toward improving the company's financial position and facilitating a potential capital raise. The completion of the transaction is anticipated in Q2 2022.
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