ProMIS Neurosciences, Inc.
NEWS RELEASE TSX: PMN/FOR IMMEDIATE RELEASE
ProMIS Neurosciences Provides Second Quarter Update for 2017 and Outlook for Near-Term Value Creation
Updated corporate overview available on ProMIS website
TORONTO, Ontario and CAMBRIDGE, Massachusetts – July 10, 2017 – ProMIS Neurosciences, Inc., a biotechnology company focused on the discovery and development of precision treatments for neurodegenerative diseases, today provided a corporate update for the second quarter of 2017, including key accomplishments, a status update on ongoing programs, and the Company’s outlook for near-term value creation.
A narrated corporate overview of second quarter 2017 progress and outlook for the future is available on the ProMIS Neurosciences website at: http://bit.ly/2tRLGAI.
Key accomplishments in the second quarter of 2017 and near-term value drivers include:
- Expansion of potential best in class amyloid-beta (Aβ) portfolio for Alzheimer’s disease
- Designated PMN350 as second validated product lead; in vivo data and biologic evidence of neuronal protection against toxic Aβ oligomers
- Continued validation of additional antibody product candidates against various Aβ epitope targets; data anticipated in coming months
- Recognition and visibility at major international meetings
- Oral presentation at 13th International Conference on Alzheimer’s and Parkinson’s diseases, Vienna, Austria
- Poster presentation at American Academy of Neurology, Boston, MA, USA
- Oral platform presentation at Prion 2017, Edinburgh, UK
- Oral presentation and session chair at Alzheimer’s Association International Conference, London, UK (July 17, 2017)
- Cohort study progress
- Added individual Alzheimer’s brain homogenates to ongoing cohort study
- Ongoing technology refinement and optimization to create highly sensitive assays
- Identified epitope target on TDP43 (implicated in ALS and frontotemporal dementia); provisional patent submitted to US Patent Office
- Ongoing work to identify specific targets on alpha-synuclein (Parkinson’s and Lewy body dementia) and tau (Alzheimer’s disease)
Commenting on the update, ProMIS Executive Chairman Eugene Williams stated: “We are pleased with the continued progress at ProMIS and remain confident that our monoclonal antibody programs focused on selectively targeting the toxic, prion-like forms of Amyloid beta may lead to best in class therapies and significant long-term value creation”.
About ProMIS Neurosciences, Inc.
ProMIS Neurosciences is a TSX listed biotech company (trading symbol: PMN.TO), headquartered in Toronto, Ontario with offices in Cambridge, Massachusetts. The Company’s mission is to discover and develop precision medicine therapeutics for effective treatment of neurodegenerative diseases, in particular Alzheimer’s disease and ALS.
ProMIS Neurosciences’ 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 (DSEs) on the molecular surface of misfolded proteins. Using this unique “precision medicine” approach, ProMIS Neurosciences is developing novel antibody therapeutics and specific companion diagnostics for Alzheimer’s disease and ALS. The company has also developed two proprietary technologies to specifically identify very low levels of misfolded proteins in a biological sample. In addition, ProMIS Neurosciences owns a portfolio of therapeutic and diagnostic patents relating to misfolded SOD1 in ALS, and currently has a preclinical monoclonal antibody therapeutic against this target.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain 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.
For further information please consult the Company’s website at:
For media inquiries, please contact:
Tel. 718 344-5843
Tel. 858 717-2310
Dr. Elliot Goldstein
President and Chief Executive Officer, ProMIS Neurosciences Inc.
Tel. 415 341-5783