ProMIS Neurosciences issues Chairman's update memorandum and white paper on Alzheimer's disease
New resources detail positive impact of aducanumab pivotal trial results and recent progress of ProMIS pipeline programs
TORONTO and CAMBRIDGE, MA, Oct. 24, 2019 /CNW/ - 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, has issued a memorandum, compiled by its Executive Chairman of the Board, that provides context for the company's recent program progress as well as a white paper analysis of Biogen's October 22, 2019 decision to submit its amyloid-beta (Aβ)-targeting drug candidate, aducanumab for Alzheimer's disease (AD) to the U.S. Food and Drug administration (FDA) in early 2020. The new resources detail how each development demonstrates strong momentum across the company's preclinical programs.
On October 22, 2019, Biogen announced that the conclusions from aducanumab's interim analysis for futility, disclosed on March 21, 2019, were incorrect. Biogen also announced that analysis of additional trial data now indicates that aducanumab is effective in patients with longer term, high-dose exposure, and that they plan to file a marketing application with FDA early next year.
"We believe that over the coming months there will be a greater recognition of the likelihood that Biogen's aducanumab will be the first ever approved disease modifying therapy in Alzheimer's, although with a modest clinical benefit," said Eugene Williams, Executive Chairman, ProMIS Neurosciences. "It will change the thinking about amyloid generally, and more people will understand the growing body of scientific literature showing that the toxic oligomer of amyloid is the critical target. Selectivity for the toxic oligomer, as demonstrated preclinically with ProMIS' candidate antibody therapeutic PMN310, will increasingly be recognized as a critical differentiator, the basis of 'best in class'. Those expectations could be very positive for ProMIS."
In October 2019, the company announced significant progress on several of its antibody programs demonstrating the unique ability of its drug discovery and development platform to rapidly and cost-effectively discover, predict and validate antibody candidates that are highly selective for neurotoxic misfolded proteins. Each of these programs, briefly updated below, is the object of ongoing partnering discussions with several large pharmaceutical companies.
- Parkinson's disease (PD) and Multiple System Atrophy (MSA)—preclinical in vitro studies, announced October 8, indicate that antibody candidates targeting toxic forms of alpha-synuclein, a root cause of PD and MSA, bind strongly to toxic alpha-synuclein aggregates derived from MSA-affected brain. The antibodies also protect cultured neurons from alpha-synuclein toxicity and spreading (propagation).
- Amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD)—new data, announced October 22, show several antibody candidates demonstrate selectivity for toxic, misfolded intracellular aggregates of TDP-43, a root cause of ALS and FTD, with no binding to normal TDP-43 located in the cell nucleus.
- Alzheimer's disease—new data, announced October 17, show several antibody candidates bind toxic forms of tau, a protein that can misfold and play a major role in disease progression. The antibodies also inhibit propagation of neurotoxic tau in a cellular model.
About ProMIS Neurosciences
ProMIS 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.
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.
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SOURCE ProMIS Neurosciences Inc.
Released October 24, 2019