ProMIS Neurosciences Inc (PMN)

[Phoenix300]

A response from management

“Dear ...........”

“Thanks for reaching back.”

“Today's Biogen news was of course disappointing for the AD community. yes
We certainly will be addressing this in more depth, but in summary aducanumab was designed by Biogen to go after plaque, which is the wrong form of amyloid. That led to the dose limiting side effect, and also wasted too much of their limited ammunition on the wrong target. Aducanumab was finalized in 2007, and has not been altered since then. At that time, the understanding of the science was different. It took 12 years for them to learn that. PMN310 was finalized in 2017, with the updated understanding of science. It is the first antibody to selectively target the mis-folded toxic version of amyloid, which is a big advantage over Aducanumab. Also, we are in a different era of drug Development now in Alzheimer’s, where biomarkers can give a signal in Phase 1 letting you know if your drug is showing a treatment effect. We will know something meaningful in 3 years, for $15mm, instead of the 12 years and hundreds of millions of $$ it took Biogen. Also, this demonstrates for our portfolio of antibodies against other targets in neurodegenerative disease that our unique selectivity will be critical.”