ACQUISITION OF EXCLUSIVE WORLDWIDE LICENSE

ProMIS acquires licence for Alzheimer's disease target

2015-11-12 08:18 ET - News Release

Dr. Elliot Goldstein reports
PROMIS NEUROSCIENCES ANNOUNCES ACQUISITION OF EXCLUSIVE WORLDWIDE LICENSE TO NOVEL THERAPEUTIC TARGET FOR ALZHEIMER'S DISEASE
Pursuant to its expanded licence agreement with the University of British Columbia, as announced on Oct. 8, 2015, ProMIS Neurosciences Inc. has acquired an exclusive, worldwide licence to a novel Alzheimer's disease target. A provisional patent application for this target was submitted to the United States Patent Office on Monday, Nov. 9, 2015. The amino acid sequence of this novel target has not been disclosed.

The Company applied its unique, proprietary discovery platform, in particular the recently acquired Collective Coordinates method (see announcement of Nov. 11, 2015), to identify and confirm the presence of this novel target (epitope) on strains of misfolded beta Amyloid. Misfolded, propagating strains of beta Amyloid are known to be neurotoxic and widely believed by the scientific community to play a key role in the development and progression of Alzheimer's disease.

The acquisition of this first target on misfolded beta Amyloid is an important milestone in the Company's mission to discover and develop precision medicine solutions for the early detection and effective treatment of Alzheimer's disease. ProMIS will continue to use its proprietary platform to discover further targets for precision medicine solutions via identification of novel target epitopes on other misfolded strains of beta Amyloid, as well as on misfolded strains of Tau, another protein implicated in neurodegenerative diseases, including Alzheimer's.

Commenting on the acquisition of the new Alzheimer's target, ProMIS CEO, DR Elliot Goldstein stated: " We are delighted with the pace of innovation and discovery accomplished by our science team, using ProMIS' proprietary techniques. The discovery of this novel target for Alzheimer's is the critical step in creating the first in a series of precision medicine solutions for this devastating disease. With this target to hand, we are well positioned for development of a precision therapeutic and companion diagnostic for patients whose disease may be driven by this toxic strain of beta Amyloid ".
As previously announced, a live webcast to review third quarter results, present the Company's near term plans and address questions from the audience will be held at 11:00AM, Eastern Standard Time.

To join the webcast, please go to the link below:
https://join.onstreammedia.com/go/jake.mooney@promisneurosciences.com/quarterly
For those unable to attend, the recorded version will be available after the webcast on the Company website: www.promisneurosciences.com