TORONTO and CAMBRIDGE, MA, July 6, 2017 /CNW/ - ProMIS Neurosciences, Inc., a biotechnology company focused on the discovery and development of precision treatments for neurodegenerative diseases, today announced that the Company's sponsored research agreement with the University of British Columbia (UBC) has received a matching Industry Partnered Grant from the Canadian Institutes of Health Research (CIHR).
The peer-reviewed matching grant of $262,500 from CIHR supports the multi-year, Company-sponsored agreement, which is focused on furthering the evaluation and characterization of antibodies specifically targeting toxic amyloid beta (Abeta) oligomers under development by ProMIS Neurosciences, including lead development products PMN310 and PMN350.
Commenting on today's announcement, Dr. Neil Cashman, ProMIS Chief Scientific Officer and Canada Research Chair in Neurodegeneration and Protein Misfolding Diseases at UBC, stated: "The research resulting from the ProMIS sponsored research agreement and related CIHR grant will provide a strong preclinical foundation to support the rapid advancement of our clinical candidates for oligomer-specific immunotherapy of Alzheimer's disease."
About ProMIS Neurosciences, Inc.
ProMIS Neurosciences is a TSX listed biotech company (trading symbol: PMN.TO), headquartered in Toronto, Ontario with offices in Cambridge, Massachusetts. The Company's mission 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 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 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 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: For media inquiries, please contact: Scott Santiamo, RussoPartners/LLC, [email protected], Tel. 718 344-5843; David Schull, RussoPartners/LLC, [email protected], Tel. 858 717-2310; [email protected]; Dr. Elliot Goldstein, President and Chief Executive Officer, ProMIS Neurosciences Inc., Tel. 415 341-5783, [email protected]