TORONTO, March 30, 2017 /CNW/ - ProMIS Neurosciences ("ProMIS" or the "Company"), a company focused on the discovery and development of precision treatments for neurodegenerative diseases, released today management's review of the first quarter of 2017, which included a review of Q1 accomplishments, a status update on ongoing programs, and its outlook for near term value creation.
Key highlights of the quarterly update include:
- Numerous studies underway and on track to further validate that ProMIS is building a 'best in class' portfolio of therapies targeting toxic, prion-like forms of Amyloid beta, a root cause of Alzheimer's;
- Results announced in January for lead product PMN310 showed prevention of short term memory loss in a well-validated mouse model. ProMIS's other four monoclonal antibodies (mAbs) are undergoing evaluation in the same model, with results expected over the coming months;
- PMN310 on track for IND submission (clinical trial initiation) in late 2018;
- Cohort study underway, evaluating presence and prevalence of ProMIS mAb targets in cerebrospinal fluid (CSF) and blood from Alzheimer's patients, with initial readout expected in the coming months;
- Diagnostics development underway and on track; goal is to create diagnostics to detect different toxic oligomer strains of Amyloid beta in both CSF and blood;
- Discovery programs for TDP43 and Tau, two highly valued targets in neurodegenerative disease and dementia, on track with confirmation of targets and patent submissions expected soon.
"2017 is shaping up to be a very important year for ProMIS, and the year is off to a great start. All our programs are progressing well, and external events continue to support our scientific strategy", said Eugene Williams, Executive Chairman.
"Recently announced results of major clinical trials with competitor products in Alzheimer's strongly support ProMIS' differentiation", stated ProMIS President and CEO, Dr. Elliot Goldstein. "We remain very confident that our mAb programs focused on selectively targeting the toxic, prion-like forms of Amyloid beta will lead to 'best in class therapy' and significant value creation".
The Company overview of first quarter 2017 progress and outlook for the future is available on the ProMIS Neurosciences website at:
About ProMIS Neurosciences, Inc.
The mission of ProMIS Neurosciences is to discover and develop precision medicine therapeutics for 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 platforms—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 is developing 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 three preclinical monoclonal antibody therapeutics 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.
For further information please consult the Company's website at:
SOURCE ProMIS Neurosciences Inc.
For further information: Dr. Elliot Goldstein, President and Chief Executive Officer, ProMIS Neurosciences Inc., Tel. 415 341-5783, [email protected]