ProMIS Neurosciences Issues Chairman’s Memorandum
16 December 2021 - 11:30PM
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, issued today a
Chairman’s Memorandum commenting on the Company’s progress over the
past year and outlook for 2022.
“ProMIS has never been in a better substantive position than we
find ourselves now at the end of 2021”, stated Eugene Williams,
Chairman and CEO of ProMIS Neurosciences. “We started the company
with the mission to apply our unique technology to developing
breakthrough therapies for patients and families affected by
Alzheimer’s disease, ALS (amyotrophic lateral sclerosis), and other
devastating diseases caused by mis-folded proteins. We are now
making significant progress toward that goal.”
Key points from the memorandum are outlined below:
- 2021 was a very successful year for ProMIS in terms of capital
formation as we raised $27MM US, with the support of prestigious
investors, and are well capitalized for the foreseeable
future;
- Shareholder support was very strong for a resolution enabling
the Board to consolidate shares, in a manner that could qualify us
for listing on a major North American stock
exchange;
- Our lead program PMN310 is moving full speed ahead through the
IND enabling work necessary to initiate our first in human clinical
trial. The clinical readouts in the amyloid field continue to
strongly support our scientific hypothesis that selectively
targeting the neurotoxic amyloid oligomer will be key to optimal
therapeutic safety and efficacy;
- Our existing portfolio of highly selective antibodies targeting
pathogenic mis-folded alpha synuclein, TDP-43 (Tar DNA Binding
Protein-43), RACK1 (Receptor for Activated C Kinase 1), and tau is
moving forward at an accelerated pace given our capital
position;
- ProMIS is very well positioned to be a leader in the new area
of therapies targeting protein misfolding. We are pursuing several
new targets in diseases like schizophrenia and expect significant
progress in expanding our portfolio in 2022.
“We are very bullish about the prospects for ProMIS in 2022 and
beyond and continue to believe that the neurodegenerative disease
field has turned a corner,” concluded Eugene Williams. “Our unique,
selective antibodies could be valuable contributors to making real
progress against these devastating diseases and we remain committed
to making that happen.”
To access the Chairman’s memorandum, please visit
www.promisneurosciences.com or click on this direct link:
https://www.promisneurosciences.com/cm122021
About ProMIS NeurosciencesProMIS 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 platform is based on the use of two complementary
thermodynamic, computational discovery engines – ProMIS and
Collective Coordinates – to predict novel targets known as Disease
Specific Epitopes on the molecular surface of misfolded proteins.
Using this unique precision 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.
Visit us at www.promisneurosciences.com, follow us
on Twitter and LinkedIn
For Investor Relations please contact:Alpine Equity
AdvisorsNicholas Rigopulos, Presidentnick@alpineequityadv.comTel.
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.Final.NR.12.16.2021
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