Promis Neurosciences announced a non-brokered private placement financing expected to raise gross proceeds of approximately $2.1 million. According to the company, the financing consists of around 2.6 million common shares and an equal number of warrants, with each warrant allowing the purchase of an additional share for $0.90 over a five-year term.
The company said that net proceeds will be used to advance its pipeline, including monoclonal antibody programs targeting toxic misfolded proteins implicated in Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). Promis Neurosciences claims that its proprietary technology enables selective targeting of these proteins, potentially improving treatment outcomes.
The company reported that certain directors and officers are participating in the offering, which is subject to regulatory approvals and customary closing conditions. The financing is expected to close in multiple tranches on or before August 28, 2025.
According to Promis Neurosciences, the funds will help progress preclinical and clinical initiatives focused on neurodegenerative disorders. The company stated it remains committed to developing precision therapies designed to modify disease processes by targeting the underlying toxic proteins.
Promis Neurosciences is based in Toronto, Canada, and focuses on therapeutics for neurological diseases characterized by protein misfolding.
