Novel target is fourth in a series of potential targets on strains of misfolded Amyloid beta, implicated in the development and progression of Alzheimer's
TORONTO, May 5, 2016 /CNW/ - ProMIS Neurosciences ("ProMIS" or the "Company") today announced that, following the previously announced identification of its first three targets, it has identified a fourth in a series of novel potential therapeutic targets on strains of misfolded Amyloid beta (Ab), implicated in the development and progression of Alzheimer's disease (AD).
"This discovery is an important milestone in ProMIS' mission to develop precision medicine therapeutics for the effective treatment of AD," said Dr. Elliot Goldstein, CEO of ProMIS. "We are currently raising monoclonal antibodies ("mabs") against the targets we have identified to date. Our key objective is to validate and select for drug development those mabs that bind selectively and specifically to the neurotoxic, propagating strains of misfolded Ab."
The Company applied its unique, proprietary discovery platform to identify this fourth novel, distinct target (epitope) on strains of misfolded Ab. Misfolded, propagating strains of Ab are known to be neurotoxic and widely believed by the scientific community to play a key role in the development and progression of Alzheimer's.
Pursuant to its expanded license agreement with the University of British Columbia announced on October 8, 2015, ProMIS Neurosciences submitted a provisional patent application for its fourth novel Alzheimer's disease target to the United States Patent Office on May 4, 2016.
About ProMIS Neurosciences, Inc.
The mission of ProMIS Neurosciences is to discover and develop precision medicine solutions for the early detection and 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 aims to develop 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.
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SOURCE ProMIS Neurosciences Inc.
For further information: Renmark Financial Communications Inc., Barry Mire: firstname.lastname@example.org; NATIONAL Equicom, Michael Moore: email@example.com; Dr. Elliot Goldstein, President and Chief Executive Officer, ProMIS Neurosciences Inc., Tel. 415 341-5783, Elliot.firstname.lastname@example.org