ProMIS Neurosciences secures $175M financing as Alzheimer’s trial hits full enrollment

ProMIS Neurosciences (NASDAQ:PMN) announced a transformational shift in its financial standing today, reporting that a massive private investment in public equity (PIPE) financing has secured the company’s clinical roadmap into 2027.

The Cambridge, Massachusetts-based biotech, which specializes in misfolded protein therapies, reported a first-quarter net loss of $8.2 million as it reached peak enrollment for its landmark Alzheimer’s study.

The company closed a PIPE financing deal with a syndicate of high-caliber healthcare investors, yielding upfront gross proceeds of approximately $75 million, with the potential for an additional $100 million upon the exercise of warrants.

This capital infusion brought the company’s cash balance to $63.8 million as of March 31, 2026, effectively ending liquidity concerns for the near term.

Operationally, ProMIS confirmed that its PRECISE-AD Phase 1b clinical trial of PMN310 is now fully enrolled with 144 participants.

PMN310 is a humanized monoclonal antibody designed to selectively target toxic amyloid-beta oligomers while sparing monomers and plaque—a differentiation management believes could significantly reduce the risk of brain swelling and micro-hemorrhages (ARIA) seen in competing therapies.

The company is moving toward two major data milestones.

A blinded interim analysis, focusing on six-month safety and biomarker data across all 144 subjects, is anticipated in early Q3 2026.

This will be followed by 12-month unblinded top-line data in early 2027, which will provide the first comprehensive look at PMN310’s efficacy and safety profile compared to placebo.