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    PMN   CA74346M1095


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

06/08/2021 | 06:49am EDT
ProMIS Neurosciences congratulates Biogen on FDA accelerated approval of aducanumab for Alzheimer's disease
By Promis Neuro AdminJune 8, 2021News

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, Ontario and CAMBRIDGE, Mass. -June 8, 2019- 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 7thFDA 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 (Aβ) 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 Aβ, a recognized root cause of AD. Importantly, PMN310 does not appreciably bind to Aβ plaque or vascular deposits of Aβ thereby reducing the likelihood of brain swelling (edema), a dose-limiting side effect observed with non-selective therapeutic antibodies that interact with Aβ 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

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For Investor Relations please contact:

Alpine Equity Advisors
Nicholas Rigopulos, President
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.



ProMIS Neurosciences Inc. published this content on 08 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2021 10:48:03 UTC.

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Sales 2020 0,00 M 0,00 M 0,00 M
Net income 2020 -5,66 M -4,47 M -4,47 M
Net cash 2020 1,07 M 0,85 M 0,85 M
P/E ratio 2020 -3,96x
Yield 2020 -
Capitalization 79,9 M 62,9 M 63,1 M
EV / Sales 2019 37 534x
EV / Sales 2020 15 614x
Nbr of Employees -
Free-Float 95,1%
Duration : Period :
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Managers and Directors
Elliot Goldstein President, Chief Executive Officer & Director
Daniel E. Geffken Chief Financial Officer
Eugene Williams Executive Chairman
Neil R. Cashman Director & Chief Scientific Officer
William W. Wyman Independent Director
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