ProMIS Neurosciences Announces Fiscal Year 2018 Annual Results

Biotech Investing

ProMIS Neurosciences (TSX:PMN,OTCQB:ARFXF) has announced its operational and financial results for the year ended December 31, 2018. As quoted in the press release: “Over the course of the past year, the value of our unique discovery and development platform was further evidenced as ProMIS made considerable progress in expanding its portfolio of opportunities across multiple …

ProMIS Neurosciences (TSX:PMN,OTCQB:ARFXF) has announced its operational and financial results for the year ended December 31, 2018.

As quoted in the press release:

“Over the course of the past year, the value of our unique discovery and development platform was further evidenced as ProMIS made considerable progress in expanding its portfolio of opportunities across multiple neurodegenerative diseases”, stated Eugene Williams, ProMIS’ Executive Chairman.
“PMN310, our lead antibody therapeutic candidate for Alzheimer’s disease, showed further significant positive differentiation in both potential efficacy and safety compared to competitive antibody therapeutics currently in development. In addition, antibody candidates selectively targeting toxic forms of alpha-synuclein for Parkinson’s disease and toxic, aggregated forms of TDP43 for amyotrophic lateral sclerosis (ALS) were identified and further characterized to support initiation of pharmaceutical partnering discussions.”
Corporate Highlights
During 2018, we completed private placements providing aggregate gross proceeds of approximately $7,240,000
In the course of 2018, we received proceeds from the exercise of warrants and stock options in the amount of $1,797,640
Alzheimer’s disease (AD) program
In January 2018, our lead product candidate for Alzheimer’s disease, PMN310, showed potential for an improved safety profile and improved therapeutic potency in head-to-head comparisons to other amyloid beta- directed antibodies.
In August 2018, we announced further evidence supporting potential for an improved safety profile in direct comparison to other amyloid beta-directed antibodies in clinical development. PMN310 showed no binding to amyloid beta (Aβ) plaque in AD brain samples in contrast to BAN2401 (Biogen/Eisai) and aducanumab, which both displayed robust Aβ plaque reactivity. Binding of therapeutic antibodies to Aβ deposits in brain tissue, in particular blood vessels, is believed to underlie the development of ARIA-E (amyloid-related imaging abnormalities with edema) or brain swelling in treated AD patients.
In June 2018, we announced the initiation of producer cell line development for PMN310, the first major step in the manufacturing process for therapeutic antibodies.