ProMIS Neurosciences, Inc. (Nasdaq: PMN) (TSX: PMN), a
biotechnology company focused on the discovery and development of
antibody therapeutics targeting misfolded proteins such as toxic
oligomers, implicated in the development of neurodegenerative
diseases, announced today that it has appointed Gail M. Farfel,
Ph.D., as Chief Executive Officer, effective September 19, 2022.
“The past 18 months have been transformative for ProMIS,” stated
Eugene Williams, ProMIS Chairman and Co-Founder. “During this
period, we achieved strong capital formation led by a prominent
group of Boston-based investors, and with tremendous shareholder,
support accomplished our goal of listing ProMIS on Nasdaq. We also
have expanded and strengthened our Board of Directors, with the
addition of three industry veterans as Independent Directors: Josh
Mandel-Brehm, Dr. Maggie Shafmaster, and Neil Warma. Our amyloid
oligomer-selective lead therapeutic antibody candidate for
Alzheimer’s disease (AD), PMN310, is poised for IND submission by
year end and we have continued to expand our portfolio of antibody
and therapeutic vaccine candidates targeting other
neurodegenerative diseases. We have also continued to expand our
strong management team, having added to the team earlier this year
Dr. Larry Altstiel as Chief Medical Officer and, in late 2021,
Gavin Malenfant as Chief Operating Officer. Perhaps the most
important of these transformational accomplishments is bringing on
Gail Farfel as CEO.”
“Gail has a distinguished track record of accomplishments in
both large pharma and biotech, and she has invaluable expertise in
neurologic disease drug development. After an extensive search, we
are confident that under Gail’s leadership ProMIS can achieve its
tremendous potential. ProMIS’ Board and management welcome her to
the CEO role as we work to complete the transition to a clinical
stage, multi-product, Nasdaq listed company,” added Gene
Williams.
“I am honored and excited to take on the role of CEO at ProMIS,”
remarked Gail Farfel. “There is a rapidly growing number of
emerging companies in the neurology space, an area of tremendous
growth, but I feel ProMIS is uniquely well-positioned to make a
meaningful contribution to the field. A very strong foundation has
been built, anchored on a unique discovery platform, giving us the
potential to advance what we believe to be differentiated products
to address urgent unmet medical needs. I look forward to working
with this impressive team and to providing my leadership as ProMIS
seeks to become a clinical phase biotechnology company with
multiple development opportunities.”
Gail M. Farfel, Ph.D., is an accomplished pharma development and
regulatory leader with over 25 years of experience in large and
small pharma, including venture-backed and public companies. Gail
has a strong record of accomplishments in neuropsychiatric clinical
development and global regulatory submissions, including multiple
successful investigational new drug (IND), new drug application
(NDA) and marketing authorization application (MAA) registrations,
U.S. Food and Drug Administration (FDA) Advisory Committee
experience, and three successful global “first” indications. On the
business side, Gail has played leadership roles in strategic
planning and commercial positioning for partnership and launch,
IPO, fundraising for publicly traded and private companies, and
licensing and asset integration.
Prior to joining ProMIS, Gail served as Executive Vice-President
and Chief Development Officer of Zogenix Inc, where she delivered
successful Phase 3 programs in Dravet syndrome and Lennox-Gastaut
syndrome (LGS), leading to approvals from FDA (Dravet and LGS) and
European Medicines Agency (EMA) approval for Fintepla in 2020 and
2021. Further, while an executive at Zogenix she supported capital
raises in excess of US $700M; the acquisition of Modis
Therapeutics; the alliance with Tevard Biosciences; and the
acquisition of Zogenix by UCB Pharma in March 2022. In her earlier
career, Gail held positions of increasing responsibility at
Smithkline Beecham, Pfizer, Novartis, G. Meredith Consulting and
Marinus Pharmaceuticals. Gail obtained her Ph.D. in
neuropsychopharmacology from the University of Chicago.
About ProMIS Neurosciences ProMIS Neurosciences
Inc. is a development stage biotechnology company focused on
generating 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
multiple system atrophy (MSA). The Company’s proprietary target
discovery engine is based on the use of two complementary
techniques. The Company applies its thermodynamic, computational
discovery platforms - 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 MSA. ProMIS is headquartered in Toronto, Ontario, with
offices in Cambridge, Massachusetts. ProMIS is listed on Nasdaq and
the Toronto Stock Exchange under the symbol PMN.
To learn more, visit us at www.promisneurosciences.com, follow
us on Twitter and LinkedIn
For Investor Relations please contact:Alpine Equity
AdvisorsNicholas Rigopulos, Presidentnick@alpineequityadv.comTel.
617 901-0785
The TSX has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information in this news release constitutes
forward-looking statements and forward-looking information
(collectively, "forward-looking information") within the meaning
of applicable securities laws. In some cases, but not necessarily
in all cases, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "targets",
"expects" or "does not expect", "is expected", "an opportunity
exists", "is positioned", "estimates", "intends", "assumes",
"anticipates" or "does not anticipate" or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might", "will" or "will be
taken", "occur" or "be achieved". In addition, any statements that
refer to expectations, projections or other characterizations of
future events or circumstances contain forward-looking
information. Specifically, this news release contains
forward-looking information relating to future management of the
Company; the potential benefits of targeting misfolded proteins;
the expected timing of the submission of the IND for PMN310; the
ability of ProMIS to transition to a clinical stage, multi-product,
Nasdaq listed company; and ProMIS’ potential to address urgent
unmet medical needs with highly differentiated products. Statements
containing forward-looking information are not historical facts but
instead represent management's current expectations, estimates and
projections regarding the future of our business, future plans,
strategies, projections, anticipated events and trends, the
economy and other future conditions. Forward-looking information is
necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by the Company as of
the date of this news release, are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, level of activity, performance or achievements
to be materially different from those expressed or implied by such
forward-looking information. Important factors that could cause
actual results and financial condition to differ materially from
those indicated in the forward-looking information include, among
others, the factors discussed throughout the "Risk Factors" section
of the Company's most recently filed annual information form
available on www.SEDAR.com, and in Item 1A of each of its Form 10
Registration Statement and its Quarterly Report on Form 10-Q for
the quarter ended June 30, 2022, each as filed with the Securities
and Exchange Commission. Except as required by applicable
securities laws, the Company undertakes no obligation to publicly
update any forward-looking information, whether written or oral,
that may be made from time to time, whether as a result of new
information, future developments or otherwise.
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