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ProMIS Neurosciences announced progress in developing its lead antibody candidate PMN310 for Alzheimer’s disease. The company has begun producer cell line development using Selexis’ SUREtechnology Platform. This advancement aims to enhance PMN310's unique ability to selectively target toxic amyloid-beta oligomers, potentially offering better efficacy and safety compared to existing treatments. The transition to an IgG1 isotype format may further improve therapeutic effectiveness. The announcement reflects the company’s renewed focus on clinical development with backing from a Boston-based investor group.
ProMIS Neurosciences (OTCQB: ARFXF) has appointed Neil Warma to its Board of Directors, effective immediately. With over 25 years of experience in the healthcare sector, Warma brings a strong background in biotechnology and executive leadership. He currently serves as General Manager at I-Mab Biopharma U.S. and has previously held CEO positions at Opexa Therapeutics and Viron Therapeutics. The addition of Warma is expected to enhance ProMIS's strategic direction, particularly in developing antibody therapeutics for neurodegenerative diseases such as Alzheimer’s and ALS.
ProMIS Neurosciences (OTCQB: ARFXF) reported financial results for Q1 2021, highlighting a net loss of $7.6 million compared to $1.8 million in Q1 2020. The company secured $7 million in financing from Boston investors, aiding its neurodegenerative disease programs. ProMIS is advancing PMN310, targeting toxic oligomers in Alzheimer’s disease, and has enhanced its technology platform for antibody design. R&D expenses decreased to $193,923, suggesting effective cost management. New appointments to the board are aimed at strengthening leadership in the biotech sector.
ProMIS Neurosciences, Inc. (OTCQB: ARFXF) appointed Dr. Rudolph Tanzi as Chair of its Scientific Advisory Board, enhancing its expertise in neurodegenerative diseases. Dr. Tanzi, a renowned neuroscientist from Harvard, has over three decades of experience in Alzheimer's and other neurodegenerative ailments. His leadership aims to advance ProMIS's antibody therapeutics portfolio, benefiting from recent financial backing from Boston investors. This move signals a strategic shift towards innovative clinical programs, including PMN310 for Alzheimer's disease.
ProMIS Neurosciences (OTCQB: ARFXF) reported a net loss of $5.66 million for 2020, improving from $7.4 million in 2019. The decrease is largely due to reduced research and development expenses, totaling $3.18 million, compared to $4.74 million in 2019. The company raised $2.2 million from warrant exercises and completed a $7 million private placement for debentures convertible at $0.10 per share. Key initiatives include advancing the PMN310 Alzheimer’s antibody into clinical testing and partnerships for new diagnostic tools. The company aims for a NASDAQ listing and expanding its board.
ProMIS Neurosciences Inc. (OTCQB: ARFXF) has completed a US$7M private placement of convertible unsecured debentures, aimed at supporting their drug development efforts for neurodegenerative diseases. The debentures, convertible at US$0.10 per share, will mature on March 22, 2026, with a 1% annual interest. Major investors include figures like Mike Gordon and organizations such as the Kraft Group. ProMIS plans to accelerate the clinical testing of its PMN310 antibody and expand its partnerships and product portfolio, while preparing for the transition of its CEO by the end of 2021.
ProMIS Neurosciences, a biotechnology company, showcases its drug discovery platform aimed at creating innovative antibodies, diagnostics, and vaccines for neurodegenerative diseases. Co-founder Dr. Neil Cashman will present at the inaugural Protein Misfolding Drug Discovery Summit on October 28-29, 2020. His talk emphasizes ProMIS' unique ability to target toxic protein oligomers, crucial in treating diseases like Alzheimer’s and Parkinson’s. The platform utilizes advanced techniques to develop precision therapies that address significant unmet needs in neurological health.