ProMIS Neurosciences (Nasdaq: PMN) announced a private placement in public equity (PIPE) financing of up to approximately USD 175 million before fees and expenses. The company expects upfront gross proceeds of approximately USD 75 million, with an additional USD 100 million available upon the full exercise of common share warrants. The financing is closed on February 3, 2026, with the capital intended to extend the company’s cash runway into 2028 and fund the completion of the ongoing Phase Ib study for its lead Alzheimer’s disease candidate.
The transaction involves the issuance of 6,815,296 common shares and common share warrants to purchase an additional 6,915,296 shares. The financing was structured with 6,090,075 common shares sold at USD 10.77 per share and 725,221 shares sold to affiliates and company insiders at a price of USD 12.13 per share. The associated warrants carry an exercise price of USD 14.40 and expire on February 3, 2031, or within 60 days of the company reporting topline data from its lead program. The round was co-led by Janus Henderson and Ally Bridge Group, with participation from Deep Track Capital, Great Point Partners, Trails Edge Capital Partners, Wellington Management, and Woodline Partners LP. Members of the ProMIS management team and Board of Directors also participated in the investment.
Company Overview and Pipeline ProMIS Neurosciences is a clinical-stage biotechnology company headquartered in Cambridge, Massachusetts, and Toronto, Ontario, focused on developing antibody therapeutics for neurodegenerative diseases. The company’s lead asset is PMN310, a humanized monoclonal antibody designed to selectively target toxic amyloid-beta oligomers while avoiding amyloid-beta monomers and plaques. PMN310 is currently being evaluated in the PRECISE-AD Phase Ib clinical trial (NCT06750432) for patients with mild cognitive impairment due to Alzheimer’s or mild Alzheimer’s disease. The company expects to report blinded 6-month topline biomarker data in Q2 2026 and final 12-month unblinded results in Q4 2026.
The broader pipeline, generated through the proprietary EpiSelect discovery platform, includes PMN442, a preclinical candidate for Parkinson’s disease and multiple system atrophy that targets pathogenic alpha-synuclein. The company is also developing therapeutic candidates for amyotrophic lateral sclerosis (ALS) and frontotemporal dementia. Recent business development activity includes a 2025 registered direct offering and private placement that raised approximately USD 21.6 million, following the US FDA granting Fast Track designation to PMN310 in July 2025. ProMIS continues to utilize its computational platform to identify conformational epitopes for the development of misfolding-specific antibodies and vaccines across multiple protein-misfolding indications.