- ProMIS Neurosciences Inc. (TSX:PMN) presented preclinical data further supporting the potential therapeutic advantage of lead candidate for Alzheimer’s, PMN310
- This data was presented at the same conference where an experimental Alzheimer’s drug from Eli Lilly (donanemab) was shown to help slow cognitive decline in patients in the early stages of the illness
- ProMIS recently notched U.S. Food and Drug Administration (FDA) clearance on its investigational new drug application for PMN310
- ProMIS Neurosciences stock (TSX:PMN) opened trading at C$7.60 per share
A Canadian biotechnology company may possess another option for an Alzheimer’s drug capable of slowing the devastating disease’s progression.
ProMIS Neurosciences Inc. (TSX:PMN) presented preclinical data further supporting the potential therapeutic advantage of lead candidate for Alzheimer’s, PMN310, a humanized IgG1 antibody directed towards toxic amyloid-beta oligomers (AβO).
The Toronto-based company also presented preclinical studies that further characterize a computationally derived Alzheimer’s vaccine directed at AβO. ProMIS’s proprietary algorithm identifies targets specific to a toxic protein species to avoid cross-reactivity with other forms of the same protein.
This data was presented at the Alzheimer’s Association International Conference (AAIC) 2023 over the weekend in Amsterdam, Netherlands. Also at the conference, an experimental Alzheimer’s drug from Eli Lilly called donanemab was shown to help slow cognitive decline in patients in the early stages of the illness.
ProMIS recently notched U.S. Food and Drug Administration (FDA) clearance on its investigational new drug application (IND) for PMN310.
PMN310 has shown in preclinical studies strong ex vivo target engagement of toxic oligomers from brain samples of people with Alzheimer’s disease. Ex vivo is a medical procedure in which cells or tissue are taken from a person for a treatment or procedure and then placed back inside the individual.
The company now intends to begin a Phase 1a clinical trial of PMN310 to evaluate the pharmacokinetics, safety, and tolerability of PMN310 in healthy adult volunteers.
This comes as the FDA recently approved a new drug to treat Alzheimer’s– lecanemab-irmb (brand name: LEQEMBI). The drug was developed by Japanese pharmaceutical company Eisai Co., Ltd. with Biogen Inc. (NASDAQ:BIIB). LEQEMBI received accelerated FDA approval in January 2023 thanks to its ability to clear amyloid plaques, which are harmful clumps of protein in the brain associated with Alzheimer’s disease.
ProMIS Neurosciences Inc. is focused on the discovery and development of antibody therapeutics that selectively target toxic oligomers implicated in the development of neurodegenerative diseases, in particular Alzheimer’s, Parkinson’s and ALS.
ProMIS Neurosciences Inc. stock chart – July 2023.
ProMIS Neurosciences Inc. opened trading at C$7.60 per share, a 108 per cent spike from the end of last week. Year-to-date, PMN stock has grown 18.8 per cent.
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