(RTTNews) - ProMIS Neurosciences Inc. (PMN), a clinical-stage biotechnology company, has announced on Friday a private investment in public equity financing of up to approximately $175 million.
The financing includes the sale of common shares and warrants to new and existing institutional and accredited investors, led by Janus Henderson and Ally Bridge Group, with participation from several healthcare-focused funds and company insiders.
The company expects to receive upfront gross proceeds of about $75 million, with up to an additional $100 million if the warrants are fully exercised.
The financing will support the completion of ProMIS' Phase 1b Alzheimer's disease study for its lead candidate, PMN310, and accelerate the development of a subcutaneous formulation. The company anticipates blinded top-line data from the Alzheimer's study to be available in mid-2026.
The funds raised through this PIPE financing will enable ProMIS to advance its pipeline of antibody therapies and vaccines targeting neurodegenerative diseases, which represent a significant unmet medical need.
PMN is currently trading at $18.76, up $6.76 or 56.30 before the bell on the Nasdaq.
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