ProMIS Neurosciences Announces Update to Senior Management Team

Rhea-AI Summary

ProMIS Neurosciences has announced significant changes in its senior management team, effective immediately, to enhance its focus on the PMN310 Alzheimer's disease program. Eugene Williams takes on the roles of Chairman and CEO, while Dr. Elliot Goldstein steps down but remains as a consultant. Gavin T. Malenfant joins as Chief Operating Officer, bringing over 30 years of experience. The team aims to complete IND enabling activities for PMN310 by H2 2022, supported by key experts including Michael Grundman and Ernest D. Bush.

Positive

• Appointment of experienced Gavin T. Malenfant as COO to strengthen drug development oversight.
• Management team restructuring aims to expedite PMN310 program's IND enabling activities by H2 2022.

Negative

• Transition of Dr. Elliot Goldstein may create uncertainty in leadership continuity.

Expanded management team to lead development programs with special focus on PMN310 for Alzheimer’s disease

TORONTO and CAMBRIDGE, Mass., Oct. 22, 2021 (GLOBE NEWSWIRE) -- ProMIS Neurosciences, Inc. (TSX: PMN); (OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics selectively targeting toxic oligomers implicated in the development of neurodegenerative diseases, today announced several updates to its senior management team.

Eugene Williams, Executive Chairman, will take on the role of Chairman and CEO, with immediate effect.

As announced in March of this year, Dr. Elliot Goldstein will step down from his current role as CEO and President with immediate effect but will continue to support ProMIS as President and special consultant to the CEO.

Gavin T. Malenfant, experienced drug development executive, joins the ProMIS senior management team as Chief Operating Officer. Gavin brings over 30 years of biopharmaceutical experience to the ProMIS team, with special focus on providing expert management and oversight of drug development programs.

Gavin’s top priority in the near term will be to support the timely development of the PMN310 program to completion of IND enabling activities, anticipated in H2’ 2022. Gavin will be working with the CEO and leadership of the PMN310 project team, whose key members include:

• Michael Grundman, MD, MPH, Senior Medical Adviser. Prior to joining the pharmaceutical industry, Dr. Grundman was Associate Director of the Alzheimer’s Disease Cooperative Study (ADCS) at the University of California, San Diego (UCSD) and is currently an Adjunct Professor of Neurosciences at UCSD. Dr. Grundman previously served on the FDA Peripheral and Central Nervous System Advisory Committee.
• Ernest D. Bush, PhD, Head of Pharmacology/Toxicology. Dr. Bush has 35 years of experience working in the field of biomedical R&D, driving development of innovative therapies for treatment of human diseases. He has served as a consultant in non-clinical development providing advice and insight into IND enabling programs, pre-clinical data-set analysis for due diligence and evaluation and audits of GLP bioanalytical and toxicology facilities and studies.
• Dennis Chen, PhD, Head of Manufacturing. Dennis has over 25 years of prior pharmaceutical experience in working with companies from virtual to global and all phases of development. Dennis provides Regulatory Affairs, Chemistry, Manufacturing & Controls (CMC) and Biopharmaceutical Development support to ProMIS with expertise in peptides, proteins and oligonucleotides.
  

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 engine is based on the use of two complementary techniques. The Company applies its thermodynamic, computational discovery platform - ProMIS™ and Collective Coordinates - to predict novel targets known as Disease Specific Epitopes on the molecular surface of misfolded proteins. Using this unique 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 further information about ProMIS Neurosciences, please consult the Company’s website at: www.promisneurosciences.com

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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.

FAQ

What recent changes occurred in ProMIS Neurosciences' management team?

ProMIS Neurosciences appointed Eugene Williams as Chairman and CEO, while Dr. Elliot Goldstein stepped down and remains as a consultant. Gavin T. Malenfant joined as Chief Operating Officer.

What is the focus of ProMIS Neurosciences' PMN310 program?

The PMN310 program is focused on developing treatments for Alzheimer's disease, with IND enabling activities expected to be completed by H2 2022.

Who are the key members of the PMN310 project team?

Key members of the PMN310 project team include Michael Grundman, MD, MPH, and Ernest D. Bush, PhD, who bring extensive experience in Alzheimer's disease research and drug development.

What is the stock symbol for ProMIS Neurosciences?

ProMIS Neurosciences is listed on the OTCQB Venture Market under the stock symbol ARFXF.