Toronto, ON (PRWEB) November 11, 2015
Pursuant to its expanded license agreement with the University of British Columbia, as announced on Oct. 8, 2015, ProMIS Neurosciences, Inc. announces today that it has acquired an exclusive, worldwide license to Collective Coordinates, a method to predict novel therapeutic targets in Alzheimer’s and other neurodegenerative diseases. A provisional patent application for the Collective Coordinates method was submitted to the United States Patent Office on Monday, Nov. 9, 2015.
Developed principally by the Company’s Chief Physics Officer, Steven Plotkin, PhD, the Collective Coordinates method is an algorithm employing protein thermodynamics that is complementary to the Company’s proprietary ProMIS™ technology. With the addition of Collective Coordinates to its computational discovery platform, the Company has a unique, proprietary and robust engine to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Propagating, toxic strains of misfolded proteins are widely believed to play a key role in the development and progression of many neurodegenerative diseases.
Working collaboratively, the Company’s Chief Science Officer, Neil Cashman MD, and Chief Physics Officer Plotkin are actively applying the two complementary techniques of ProMIS™ and Collective Coordinates to identify novel targets (epitopes) on misfolded, neurotoxic strains of the proteins beta Amyloid and Tau.
Subsequent to identification of these targets and submission of initial Intellectual Property (IP) claims, the Company will be in a position to enter the product development phase by elaborating and developing specific therapeutics and companion diagnostics aimed at these targets for Alzheimer’s disease.
Commenting on the acquisition of this new method, ProMIS’ CEO, Dr. Elliot Goldstein, stated: “With the addition of Collective Coordinates to our target discovery platform, we are well-positioned to identify novel targets allowing precision medicine solutions for neurodegenerative disease. Our priority in the near term is to focus on neurotoxic, misfolded strains of beta Amyloid and Tau in Alzheimer’s”.
A live webcast to review third quarter results, present the Company’s near term plans and address questions from the audience will be held on Thursday, Nov. 12, at 11:00AM, Eastern Standard Time. To join the webcast, please go to the link below:
For those unable to attend, the recorded version will be available after the webcast on the Company website: http://www.promisneurosciences.com
About ProMIS Neurosciences, Inc.
The mission of ProMIS Neurosciences is to discover and develop precision medicine solutions for the early detection and effective treatment of neurodegenerative diseases, in particular Alzheimer’s disease and ALS.
ProMIS Neurosciences’ proprietary target discovery engine is based on the use of two, complementary techniques. The Company applies its computational discovery platform—ProMIS™, and thermodynamic algorithm —Collective Coordinates, to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins. Using this unique "precision medicine" approach, ProMIS Neurosciences aims to develop novel antibody therapeutics and specific companion diagnostics for Alzheimer’s disease and ALS. The company has also developed two proprietary technologies to specifically identify very low levels of misfolded proteins in a biological sample. In addition, ProMIS Neurosciences owns the exclusive rights to the genus patent relating to misfolded SOD1 in ALS, and currently has a preclinical monoclonal antibody therapeutic against this target.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This information release may contain 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.
For further information please consult the Company's website at:
http://www.promisneurosciences.com, or contact
Dr. Elliot Goldstein
President and Chief Executive Officer, ProMIS Neurosciences Inc.
Tel. 415 341-5783
Renmark Financial Communications Inc.
Barry Mire: bmire(at)renmarkfinancial(dot)com
D. Elizabeth Culley: dculley(at)renmarkfinancial(dot)com
Tel: (416) 644-2020 or (514) 939-3989