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ProMIS Neurosciences Inc. (Nasdaq: PMN) is a clinical-stage biotechnology company dedicated to discovering and developing precision therapeutics and companion diagnostics for neurodegenerative diseases such as Alzheimer’s Disease (AD), amyotrophic lateral sclerosis (ALS), and multiple system atrophy (MSA). Leveraging its proprietary target discovery engine, ProMIS™ and Collective Coordinates, the company aims to predict novel targets on misfolded proteins, known as Disease Specific Epitopes (DSEs), to create highly selective antibody therapeutics.
ProMIS Neurosciences is advancing its lead product, PMN310, a humanized IgG1 antibody designed to selectively target toxic amyloid-beta oligomers, believed to be a major driver of AD. PMN310's distinctive approach potentially improves efficacy and reduces the risk of amyloid-related imaging abnormalities (ARIA), a common side effect in other amyloid-beta-directed therapies. The product is currently in Phase 1a clinical trials, with initial safety and pharmacokinetic data expected by mid-2024.
In addition to Alzheimer's disease, ProMIS is developing PMN267, a humanized IgG1 antibody targeting misfolded TDP-43 proteins in ALS. Preclinical data have shown that PMN267 helps mitigate neurodegeneration by targeting the pathogenic interaction between TDP-43 and SOD1 in ALS.
ProMIS is also focusing on therapeutic targets for multiple synucleinopathies, including Parkinson’s disease, dementia with Lewy bodies, and MSA. The company's pipeline includes a computationally-derived amyloid-beta vaccine for AD and multiple earlier-stage antibody candidates for other neurodegenerative conditions.
Recent achievements include the publication of preclinical data supporting PMN267 as a potential ALS treatment in the Journal of Biological Chemistry and the identification of RACK1 as a novel target for ALS and frontotemporal lobar degeneration (FTLD). The company has also secured key U.S. and international patents to protect its intellectual property, particularly around PMN310, which further validates its innovative approach to treating neurodegenerative diseases.
With offices in Toronto, Ontario, and Cambridge, Massachusetts, ProMIS Neurosciences continues to build on its robust scientific foundation focused on tackling diseases characterized by abnormal, misfolded proteins. The company aims to advance clinical development across its therapeutic pipeline while maintaining a tight control on cash management, ensuring the sustainability of its operations and long-term growth.
ProMIS Neurosciences (Nasdaq: PMN) has reported positive top-line data from the first four cohorts of its Phase 1a clinical trial of PMN310 in healthy volunteers for Alzheimer's disease. The results showed:
- A favorable safety profile and tolerability across four ascending dose levels
- Dose-dependent levels of PMN310 antibody in cerebrospinal fluid (CSF)
- Potential for target engagement in Alzheimer's patients
PMN310 was well-tolerated with no serious adverse events observed. The antibody demonstrated dose proportionality in CSF and a half-life of approximately 25 days, supporting monthly dosing. ProMIS plans to advance PMN310 into a Phase 1b study in Alzheimer's patients in the second half of 2024.
ProMIS Neurosciences (Nasdaq: PMN) has announced a private placement financing of up to $122.7 million. The deal includes an upfront $30.3 million and potential additional $92.4 million from warrant exercises. The financing involves issuing Common Share Units and Pre-Funded Units at $2.15 and $2.14 per unit, respectively. Each unit includes various warrants with different exercise prices and expiration conditions.
The funds will support the development of PMN310, ProMIS' lead antibody therapeutic for Alzheimer's disease. The financing is expected to close on July 31, 2024, subject to conditions. Notable investors include Great Point Partners, Armistice Capital, and Ally Bridge Group. Guggenheim Securities led the placement, with Ceros Financial Services and Leede Financial as additional agents.
ProMIS Neurosciences (Nasdaq: PMN) reported its Q1 2024 financial results and corporate updates. The company is progressing with its Phase 1a clinical trial of PMN310 for Alzheimer's disease (AD), expecting top-line data by mid-2024. The trial evaluates safety, tolerability, and pharmacokinetics in healthy volunteers. ProMIS also plans a Phase 1b study in H2 2024. Recent publications support PMN310’s potential. In the ALS program, PMN267 showed promising preclinical data. ProMIS selected PMN400 as a lead vaccine candidate for synucleinopathies. Financially, ProMIS reported a cash decrease to $2.5M, R&D expenses of $2.1M, G&A expenses of $1.6M, and a net loss of $3.6M.
ProMIS Neurosciences Inc. published a study highlighting the selectivity of PMN310 in targeting toxic soluble aggregates in neurodegenerative diseases such as Alzheimer’s disease. The study shows PMN310's differentiation from other amyloid-beta-directed antibodies and its potential to improve efficacy and reduce risk associated with plaque-binding therapies. PMN310 is currently undergoing Phase 1a clinical studies, with promising initial data expected in mid-2024.
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