GlobeNewswire by notified

ProMIS Neurosciences initiates commercialization of COVID-19 serology assay

Share

Seasoned industry executive and entrepreneur, Owen Dempsey to lead the effort for ProMIS

TORONTO and CAMBRIDGE, Mass., May 25, 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 that it has initiated commercialization of its COVID-19 serology assay and has appointed Owen Dempsey to lead the commercialization program.

Owen’s professional work for the past 25 years has been to build companies founded to discover and commercialize antibodies in applications including life science research, pharmaceutical drug discovery, clinical diagnostics and therapeutic treatment of cancer, AIDS and other serious illness. He has led private, venture-backed as well as NASDAQ-listed companies and is a past board member of ALDA, the Analytical, Life Science & Diagnostics Association.

“I am delighted to lead this opportunity on behalf of ProMIS Neurosciences,” stated Owen Dempsey. “Our serology assay commercialization efforts will be targeting the need for a highly accurate test to detect, quantify and characterize antibodies against the virus causing COVID-19, either as a consequence of contracting the viral disease or in response to vaccination. Our initial focus will be on commercialization to the medical and public health community, vaccine developers, pharmaceutical companies, governmental agencies and other organizations.”

This advanced serology test developed by ProMIS Neurosciences measures not only serum antibodies to SARS-CoV-2, the novel coronavirus causing COVID-19, but also their protective activity against infection.  The assay simultaneously assesses antibody levels in the blood of study participants and their neutralizing activity against the original strain of SARS-CoV-2 as well as emerging variants.  Additional variants can be added to the assay as they are identified.  The assay utilizes an advanced, high-throughput, sensitive and accurate surface plasmon resonance (SPR) technology as opposed to traditional ELISA (enzyme-linked immunosorbent assay) methods. 

In commercializing an advanced serology testing platform, we aim to meet the needs of the medical community and investigators in academia, industry and government working to assess response and durability of response to vaccines as well as to monitor and assess antibody response to emerging strains of the virus.. As reported in the scientific literature, our accurate and sensitive format is capable of measuring neutralizing antibodies that inhibit coronavirus RBD binding to the human ACE2 receptor. This provides a powerful surrogate measure of antibody immunity without the need for live virus or pseudovirus formats. This and similar collaborative efforts may help to guide the need for boosters or modified vaccines addressing emerging strains and will inform the medical community’s preparedness to meet similar public threats to global health in the years ahead.

It is important to note, as stated above that the initial marketing and commercialization of the assay will be directed only to organizations such as vaccine manufacturers, pharmaceutical companies and government organizations at the national and state/provincial level. The assay is not currently available to private individual consumers or the general public.

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

Follow us on Twitter
Like us on LinkedIn

For Investor Relations please contact:
Alpine Equity Advisors
Nicholas Rigopulos, President
nick@alpineequityadv.com
Tel. 617 901-0785

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. Specifically, the Company’s effort to commercialize its COVID-19 serology assay may not succeed due to many known and unknown factors, including the emergence of competing products, lack of market acceptance for its test, the cost of production relative to the revenue generated, and/or changes in the need for COVID-19 serology tests. 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.

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Chief People Officer, Amy Hanlon-Rodemich to leave Nokia28.3.2024 15:15:00 CET | Press release

Nokia Corporation Stock Exchange Release 28 March 2024 at 16:15 EET Chief People Officer, Amy Hanlon-Rodemich to leave Nokia Espoo, Finland – Nokia today announces that its Chief People Officer, Amy Hanlon-Rodemich, will leave the company and step down from its Group Leadership Team. A recruitment process will begin immediately for her successor and Amy will retain an advisory role during her notice period. Amy joined Nokia in 2022 and has been key to renewing the company’s people services and employee experience. “This has been a difficult decision for me to take. I’ve enjoyed my time at Nokia and am looking forward to the next chapter in my career. I wish everyone at Nokia continued success,” commented Amy. “I would like to thank Amy for her contributions to Nokia and leadership of the People organisation. I wish her all the best with her future endeavours,” said Pekka Lundmark, President and CEO of Nokia. Lorna Gibb, Vice President, Labor & Employment, will assume the role of interi

Fenix Outdoor: Fenix Outdoor International AG Årsredovisning samt Hållbarhetsrapport 202328.3.2024 15:00:00 CET | Pressemelding

Zug 2024-03-28 Press meddelande - Årsredovisning samt Hållbarhetsrapport 2023 Bifogat Års- och Hållbarhetsredovisning för 2023. Årsredovisningen skiljer sig från Q4 pressmeddelandet på en punkt. Bokslutskommuniké Årsredovisning Nyttjanderättstillgångar MEUR 130,5 MEUR 117,2 Summa tillgångar MEUR 743,2 MEUR 729,9 Skillnaden består i tillägget av ett tyskt hyreskontrakt förlängt från 2024-01-01, undertecknat 2023. Inga effekter i resultaträkningen för 2023. Bilagor feni-2023-12-31-enAnnual_Report_2023Årsredovisning_2023CSR_2023

Fenix Outdoor: Fenix Outdoor International AG Annual and CSR report 202328.3.2024 15:00:00 CET | Press release

Zug 2024-03-28 Pressrelease - Annual and CSR report 2023 Attached Annual and CSR report 2023. The annual report differs from the Q4 press release in one position. Q4 Press release Annual Report Right of Use asset MEUR 130.5 MEUR 117,2 Total Asset MEUR 743.2 MEUR 729.9 The reason for the difference is the addition of a German lease contract prolonged from 2024-01-01, signed in 2023. No effects in Income statement for 2023. Attachments feni-2023-12-31-enAnnual_Report_2023Årsredovisning_2023CSR_2023

eQ Plc Managers' Transactions – Staffan Jåfs28.3.2024 15:00:00 CET | Press release

eQ Plc Managers' Transactions 28 March 2024 at 4:00 p.m. Person subject to the notification requirement Name: Staffan Jåfs Position: Other senior manager Issuer: eQ Oyj LEI: 743700R4FA6AVH5J3D68 Notification type: INITIAL NOTIFICATION Reference number: 57077/4/4 ____________________________________________ Transaction date: 2024-03-26 Outside a trading venue Instrument type: SHARE ISIN: FI0009009617 Nature of transaction: SUBSCRIPTION (X) Linked to stock option programme Transaction details (1): Volume: 65000 Unit price: 3.62 EUR Aggregated transactions (1): Volume: 65000 Volume weighted average price: 3.62 EUR eQ Plc Additional information: Juha Surve, Group General Counsel, tel. +358 9 6817 8733 Distribution: Nasdaq Helsinki, www.eQ.fi eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institu

Exterro Hires Rick Valentine as New Chief Customer Officer28.3.2024 14:00:00 CET | Press release

Seasoned executive will focus on ensuring Exterro customers maximize the value of their investment PORTLAND, Ore., March 28, 2024 (GLOBE NEWSWIRE) -- Exterro, the leading provider of data risk management software solutions, today announced the appointment of Rick Valentine, an expert in delivering world-class customer experiences at global organizations, as its new chief customer officer. The appointment reflects Exterro’s long-term commitment to delivering an outstanding experience and return on investment to all customers using its data risk management platform. Valentine will report directly to Exterro CEO Bobby Balachandran. Valentine brings more than three decades of leadership experience to the CCO position, most recently as chief customer officer at data management company Quantum. His prior executive experience encompasses both large public enterprises and high-growth startups in the high-tech space, including Silver Peak Systems/HPE, Veritas/Symantec, and Intuit. Valentine bri

HiddenA line styled icon from Orion Icon Library.Eye