ProMIS Neurosciences congratulates Biogen on FDA accelerated approval of aducanumab for Alzheimer’s disease

Approval of aducanumab offers real hope for patients and fuels development of next-generation therapies with more selective binding for toxic species of amyloid beta

TORONTO and CAMBRIDGE, Mass., June 08, 2021 (GLOBE NEWSWIRE) -- ProMIS Neurosciences, Inc. (TSX: PMN) (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics targeting toxic oligomers implicated in the development of neurodegenerative diseases, today congratulates Biogen on the recent FDA approval of its monoclonal antibody therapeutic, aducanumab, for the treatment of Alzheimer’s disease (AD).

After two years of setbacks in the AD field, 2021 has seen significant progress and reason for optimism in the AD community. Biogen’s June 7^th FDA approval of aducanumab as well as recent positive clinical trial data from Cassava (simufilam) and Lilly (donanemab) offer further potential positive momentum for AD patients.

“The approval of aducanumab marks the availability of the first disease-modifying therapy for AD, the sixth leading cause of death in the United States,” stated ProMIS Executive Chairman Eugene Williams. “We congratulate Biogen on this important development for AD patients and their caregivers. We now anticipate accelerated interest and support for the development of next generation therapies, such as ProMIS’ PMN310 lead antibody therapeutic for AD. Using our proprietary discovery platform we were able to create an antibody that selectively targets the toxic oligomers of amyloid-beta (A) and avoids undesirable binding to non-toxic forms of amyloid. We believe this high degree of selectivity by PMN310 may offer significant differentiation in terms of efficacy and safety compared to the currently less selective antibody products.”

PMN310, is a humanized monoclonal antibody that binds with high affinity and selectivity to toxic oligomers of A, a recognized root cause of AD. Importantly, PMN310 does not appreciably bind to A plaque or vascular deposits of A thereby reducing the likelihood of brain swelling (edema), a dose-limiting side effect observed with non-selective therapeutic antibodies that interact with A plaque.

About ProMIS Neurosciences, Inc.
ProMIS Neurosciences, Inc. is a development stage biotechnology company focused on discovering and developing antibody therapeutics selectively targeting toxic oligomers implicated in the development and progression of neurodegenerative diseases, in particular Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD). The Company’s proprietary target discovery engine is based on the use of two complementary techniques. The Company applies its thermodynamic, computational discovery platform -ProMIS™ and Collective Coordinates - to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique approach, the Company is developing novel antibody therapeutics for AD, ALS and PD. ProMIS is headquartered in Toronto, Ontario, with offices in Cambridge, Massachusetts. ProMIS is listed on the Toronto Stock Exchange under the symbol PMN, and on the OTCQB Venture Market under the symbol ARFXF.

For further information about ProMIS Neurosciences, please consult the Company’s website at: www.promisneurosciences.com

For Investor Relations please contact:
Alpine Equity Advisors
Nicholas Rigopulos, President
nick@alpineequityadv.com
Tel. 617 901-0785

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: ProMIS Neurosciences Inc.

Released June 8, 2021