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, recently announced its operational and financial results for the year ended December 31, 2019. Among the highlights, the company reported the completion of private placements during 2019 providing aggregate gross proceeds of $6,169,133. “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,” ProMIS’ Executive Chairman Eugene Williams said in the news release.
In addition, ProMIS Neurosciences yesterday announced its receipt of approval from the Toronto Stock Exchange to amend the exercise price of an aggregate of 44,182,530 outstanding common share purchase warrants (the “warrants”) that were previously issued on August 9, 2017, August 28, 2017, October 30, 2017, April 30, 2018, January 22, 2019, June 26, 2019, November 15, 2019, and December 30, 2019 (the “warrant repricing”). According to the update, the warrants will expire on the date that is five years from the original date of issuance. Outstanding warrants currently held by Insiders of the company will be excluded from the warrant repricing.
About ProMIS Neurosciences, Inc.
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. For more information, visit www.ProMISNeurosciences.com.
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