Sun Pharma to Acquire ProMIS Neurosciences for $117M

TL;DR

Sun Pharma buying ProMIS for $3.20/share cash, deal valued at $117M, expected Q3 close.

AI Summary

ProMIS Neurosciences Inc. announced on July 3, 2025, that it has entered into a definitive agreement to be acquired by a subsidiary of Sun Pharmaceutical Industries Ltd. for $3.20 per share in cash. This transaction values ProMIS at approximately $117 million. The acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition by a major pharmaceutical company like Sun Pharma could accelerate the development of ProMIS's Alzheimer's disease therapies, potentially bringing new treatments to patients sooner.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, and there's always a risk of regulatory hurdles or other unforeseen issues that could delay or prevent the deal from closing.

Key Numbers

• $117M — Acquisition Value (Total enterprise value of the deal)
• $3.20 — Per Share Price (Cash consideration for each ProMIS share)

Key Players & Entities

• ProMIS Neurosciences Inc. (company) — Company being acquired
• Sun Pharmaceutical Industries Ltd. (company) — Acquiring company
• $3.20 (dollar_amount) — Per share acquisition price
• $117 million (dollar_amount) — Total acquisition value
• July 3, 2025 (date) — Date of definitive agreement
• third quarter of 2025 (date) — Expected closing period

FAQ

From the Filing

0001558370-25-009112.txt : 20250707 0001558370-25-009112.hdr.sgml : 20250707 20250707164521 ACCESSION NUMBER: 0001558370-25-009112 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250703 ITEM INFORMATION: Other Events FILED AS OF DATE: 20250707 DATE AS OF CHANGE: 20250707 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ProMIS Neurosciences Inc. CENTRAL INDEX KEY: 0001374339 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences EIN: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41429 FILM NUMBER: 251108549 BUSINESS ADDRESS: STREET 1: SUITE 200, 1920 YONGE STREET CITY: TORONTO STATE: A6 ZIP: M4S 3E2 BUSINESS PHONE: 416-847-6898 MAIL ADDRESS: STREET 1: SUITE 200, 1920 YONGE STREET CITY: TORONTO STATE: A6 ZIP: M4S 3E2 FORMER COMPANY: FORMER CONFORMED NAME: AMORFIX LIFE SCIENCES LTD DATE OF NAME CHANGE: 20060831 8-K 1 pmn-20250703x8k.htm 8-K PROMIS NEUROSCIENCES INC._July 3, 2025 0001374339 false 0001374339 2025-07-03 2025-07-03 ​ ​ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM  8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 3, 2025 PROMIS NEUROSCIENCES INC. (Exact name of registrant as specified in its charter) ​ Ontario, Canada      001-41429      98-0647155 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) ​ ​ Suite 200 , 1920 Yonge Street , Toronto , Ontario             M4S 3E2 (Address of principal executive offices)       (Zip Code) ​ Registrant’s telephone number, including area code: ( 416 ) 847-6898 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class      Trading Symbol(s)      Name of Each Exchange on Which Registered Common Shares, no par value per share ​ PMN The Nasdaq Capital Market ​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter) Emerging growth company   ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​ Item 8.01 Other Events. As previously disclosed on a Current Report on Form 8-K filed by ProMIS Neurosciences Inc. (the “Company”), on January 8, 2025, the Company received a deficiency letter (the “Nasdaq Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price of the Company’s common shares, no par value (“Common Shares”), has not been maintained at th