In a news release, neurodegenerative disease antibody therapeutics developer ProMIS Neurosciences Inc. (PMN:TSX; ARFXF:OTCQB) presented a summary outlining its strategic priorities and action plan for 2021.
The company advised that during 2021 it plans to focus its attention and efforts on four primary areas: rare neurodegenerative diseases and ALS in particular, proprietary computational platform utilization in order to expand its portfolio, PMN310 antibody development for Alzheimer's disease and further progress on serological assays for COVID-19.
ProMIS Neurosciences further stated that in 2020 it has made significant progress in the rare disease area and that it plans to deploy the bulk of its near-term R&D efforts to advance its programs that selectively target toxic misfolded proteins that have been implicated in the development of ALS.
The firm explained that its proprietary ProMIS computational platform offers rapid and selective targeting of pathogenic protein species that have been implicated in the development of misfolded protein diseases. The company noted that there may be several other disease targets beyond neurodegenerative disease applications where its highly cost-effective platform would prove to be beneficial.
The firm noted that in Q3/20 the U.S. Food and Drug Administration (FDA) issued a positive Medical Review regarding Biogen Inc.'s (BIIB:NASDAQ) regulatory submission of aducanumab for Alzheimer's disease (AD) treatment, and subsequently a negative Advisory Committee recommendation was released on November 6, 2020. ProMIS believes that if the Advisory Committee's issues can be rectified, development capital for IND enabling work on PMN310 may become more available. The company indicated that it expects that Biogen's aducanumab and Eisai Inc.'s BAN2401 will eventually both be approved.
ProMIS advised that in 2021 it will continue developing assays to detect and characterize antibody response to COVID-19. The company reported that "its basic serology test using surface plasmon resonance (SPR) can very accurately detect the presence of antibodies against the SARS-CoV-2 virus responsible for COVID-19, denoting exposure and development of a response against the virus."
The firm commented that its unique core technology provides it with the capability to scientifically predict the site and shape of new targets known as disease specific epitopes (DSEs) on molecular surfaces of proteins. ProMIS added that in infectious disease settings, these same DSEs may be employed in the process to create highly accurate serological assays capable of detecting the presence of antibodies that arise in response infection, such as COVID-19. The firm pointed out that in addition to testing applications, "its proprietary peptide antigens can also be used to create potential therapeutic antibodies, as well as serve as the basis for development of vaccines."
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