ProMIS Neurosciences Announces Private Placement Financing
ProMIS Neurosciences (NASDAQ: PMN), a clinical-stage biotech company focused on neurodegenerative diseases, has secured $12 million in total financing through two components: a $3 million private placement of warrants and $9 million from the exercise of existing warrants.
The new warrants were sold at $0.1875 per share through a PIPE financing, with an exercise price of $1.25 and a five-year expiration term. The financing, expected to close on July 29, 2025, includes participation from existing investors like Ally Bridge Group. Proceeds will support the clinical development of PMN310, the company's lead therapeutic candidate, and general corporate expenses.
ProMIS Neurosciences (NASDAQ: PMN), una società biotech in fase clinica specializzata nelle malattie neurodegenerative, ha ottenuto un finanziamento totale di 12 milioni di dollari attraverso due componenti: un collocamento privato di warrant per 3 milioni di dollari e 9 milioni di dollari derivanti dall'esercizio di warrant esistenti.
I nuovi warrant sono stati venduti a 0,1875 dollari per azione tramite un finanziamento PIPE, con un prezzo di esercizio di 1,25 dollari e una scadenza di cinque anni. Il finanziamento, che si prevede sarà concluso entro il 29 luglio 2025, vede la partecipazione di investitori esistenti come Ally Bridge Group. I proventi sosterranno lo sviluppo clinico di PMN310, il principale candidato terapeutico dell'azienda, e le spese generali aziendali.
ProMIS Neurosciences (NASDAQ: PMN), una empresa biotecnológica en etapa clínica enfocada en enfermedades neurodegenerativas, ha asegurado un financiamiento total de 12 millones de dólares mediante dos componentes: una colocación privada de warrants por 3 millones de dólares y 9 millones de dólares provenientes del ejercicio de warrants existentes.
Los nuevos warrants se vendieron a 0.1875 dólares por acción a través de un financiamiento PIPE, con un precio de ejercicio de 1.25 dólares y un plazo de vencimiento de cinco años. Se espera que el financiamiento cierre el 29 de julio de 2025 e incluye la participación de inversores existentes como Ally Bridge Group. Los fondos se destinarán al desarrollo clínico de PMN310, el principal candidato terapéutico de la compañía, y a gastos corporativos generales.
ProMIS Neurosciences (NASDAQ: PMN)는 신경퇴행성 질환에 중점을 둔 임상 단계 바이오텍 회사로, 총 1,200만 달러의 자금 조달을 두 가지 방식으로 확보했습니다: 300만 달러 규모의 사모 워런트 발행과 기존 워런트 행사로 인한 900만 달러입니다.
새로운 워런트는 PIPE 자금 조달을 통해 주당 0.1875달러에 판매되었으며, 행사가격은 1.25달러, 만기 기간은 5년입니다. 자금 조달은 2025년 7월 29일에 완료될 예정이며, Ally Bridge Group과 같은 기존 투자자들이 참여합니다. 조달된 자금은 회사의 주요 치료 후보물질인 PMN310의 임상 개발 및 일반 기업 경비에 사용될 예정입니다.
ProMIS Neurosciences (NASDAQ : PMN), une société biotechnologique en phase clinique spécialisée dans les maladies neurodégénératives, a obtenu un financement total de 12 millions de dollars via deux volets : un placement privé de bons de souscription d'actions (warrants) de 3 millions de dollars et 9 millions de dollars provenant de l'exercice de warrants existants.
Les nouveaux warrants ont été vendus à 0,1875 dollar par action via un financement PIPE, avec un prix d'exercice de 1,25 dollar et une échéance de cinq ans. Le financement, dont la clôture est prévue le 29 juillet 2025, inclut la participation d'investisseurs existants tels qu'Ally Bridge Group. Les fonds serviront à soutenir le développement clinique de PMN310, le principal candidat thérapeutique de la société, ainsi qu'aux dépenses générales de l'entreprise.
ProMIS Neurosciences (NASDAQ: PMN), ein biopharmazeutisches Unternehmen in der klinischen Entwicklungsphase mit Fokus auf neurodegenerative Erkrankungen, hat eine Gesamtfinanzierung von 12 Millionen US-Dollar gesichert, bestehend aus zwei Komponenten: einer 3-Millionen-Dollar-Privatplatzierung von Warrants und 9 Millionen Dollar aus der Ausübung bestehender Warrants.
Die neuen Warrants wurden im Rahmen einer PIPE-Finanzierung zu 0,1875 US-Dollar pro Aktie verkauft, mit einem Ausübungspreis von 1,25 US-Dollar und einer Laufzeit von fünf Jahren. Die Finanzierung, die voraussichtlich am 29. Juli 2025 abgeschlossen wird, umfasst die Teilnahme bestehender Investoren wie Ally Bridge Group. Die Erlöse werden die klinische Entwicklung von PMN310, dem wichtigsten therapeutischen Kandidaten des Unternehmens, sowie allgemeine Unternehmensausgaben unterstützen.
- Secured total financing of $12 million to advance clinical development
- Support from existing institutional investors including Ally Bridge Group
- Warrants have a 5-year exercise period, providing long-term funding potential
- Proceeds will advance PMN310 clinical development program
- Dilutive impact on shareholders through warrant issuance
- Warrants sold at significant discount to current market price
- Additional shares will enter market upon warrant exercise
Insights
ProMIS secured $12M through warrant transactions to advance Alzheimer's drug development, strengthening its financial position without immediate dilution.
ProMIS Neurosciences has secured approximately
This financing demonstrates strong support from existing investors, including Ally Bridge Group, who are doubling down on their commitment to ProMIS's neurodegenerative disease platform. For a clinical-stage biotech without product revenue, this capital infusion provides critical runway extension to advance PMN310, their lead candidate targeting toxic misfolded proteins in Alzheimer's disease.
The structure of this deal is particularly noteworthy - by raising capital through warrants rather than direct equity, ProMIS minimizes immediate dilution while securing funds. The five-year exercise window provides significant flexibility, though the company has committed to filing a registration statement for the underlying shares, ensuring future liquidity for warrant holders.
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TORONTO, Ontario and CAMBRIDGE, Massachusetts, July 28, 2025 (GLOBE NEWSWIRE) -- ProMIS Neurosciences, Inc. (Nasdaq: PMN), a clinical-stage biotechnology company committed to discovery and development of therapeutic antibodies targeting toxic misfolded proteins in neurodegenerative diseases, such as Alzhiemer’s disease (AD), amyotrophic lateral sclerosis (ALS) and Parkinson’s disease (PD), today announced that it has entered into a purchase agreement (the “Purchase Agreement”) with existing institutional and accredited investors to issue and sell an aggregate of approximately
The Warrants have an exercise price of
The PIPE financing included participation from existing institutional investors, including Ally Bridge Group.
ProMIS anticipates the gross proceeds from the PIPE financing to be approximately
Proceeds from the PIPE financing are expected to be used to advance the clinical development of PMN310, ProMIS’ lead therapeutic candidate, as well as for working capital and other general corporate expenses.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (“Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws. ProMIS Neurosciences has agreed to file a registration statement with the SEC registering the resale of the Common Shares issuable upon the exercise of the Warrants issued in the PIPE financing.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities law of any such state or other jurisdiction.
About ProMIS Neurosciences Inc.
ProMIS Neurosciences is a clinical-stage biotechnology company committed to the discovery and development of therapeutic antibodies selective for toxic oligomers associated with the development and progression of neurodegenerative and other misfolded protein diseases. The Company’s proprietary target discovery engine, EpiSelect™, predicts novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins that cause neurodegenerative and other misfolded protein diseases, including Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD), multiple system atrophy (MSA), and Parkinson’s Disease (PD). ProMIS has offices in Cambridge, Massachusetts (USA) and Toronto, Ontario (CAN).
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain information in this news release constitutes forward-looking statements and forward-looking information (collectively, ”forward-looking information”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “excited to”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, ”is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Specifically, this news release contains forward-looking information relating to the expected timing for the closing of the PIPE financing and the anticipated use of proceeds from the PIPE financing. Statements containing forward-looking information are not historical facts but instead represent management’s current expectations, estimates and projections regarding the future of our business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties and assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, but not limited to, the risk that clinical results or early results may not be indicative of future results, the Company’s ability to fund its operations and continue as a going concern, its accumulated deficit and the expectation for continued losses and future financial results. Important factors that could cause actual results to differ materially from those indicated in the forward-looking information include, among others, the factors discussed throughout the “Risk Factors” section of the Company's most recently filed Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent filings filed with the United States Securities and Exchange Commission. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. For further information:
Please submit media inquiries to info@promisneurosciences.com
For Investor Relations, please contact:
Kaytee Bock Zafereo
katherine.bock@promisneurosciences.com
FAQ
How much funding did ProMIS Neurosciences (PMN) raise in the July 2025 financing?
What are the terms of PMN's new warrants issued in July 2025?
How will ProMIS Neurosciences use the proceeds from the July 2025 financing?
When will ProMIS Neurosciences' July 2025 PIPE financing close?
Which investors participated in ProMIS Neurosciences' July 2025 PIPE financing?
