Larry Altstiel
About Larry Altstiel
Larry Altstiel, M.D., Ph.D., is Chief Medical Officer (CMO) of ProMIS Neurosciences (PMN) and has served in this role since April 2022. He is age 75 as of April 16, 2025, and previously was listed at age 74 (April 2024) and age 73 (May 2023) . Dr. Altstiel holds a B.S. in Chemistry (University of Illinois), a Ph.D. in Virology (Rockefeller University), and an M.D. (University of Miami), and brings decades of medical expertise in neurodegenerative diseases with industry experience including Pinteon Therapeutics and Neurotrope/Synaptogenix . Company-level operational progress during his CMO tenure includes initiation of the Phase 1b PRECISE-AD trial for PMN310 and DSMB approval to advance dosing, indicating execution on clinical milestones .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ProMIS Neurosciences | Chief Medical Officer | Apr 2022–present | Leads clinical strategy for neurodegenerative programs; background cited as “decades of medical expertise,” supporting PMN310 clinical progression |
| Neurotrope, Inc. (n/k/a Synaptogenix Inc.) | Director & Scientific Advisor | 2014–2017 | Advisory role in neurodegeneration; contributed scientific guidance during development stage |
| Pinteon Therapeutics Inc. | Part-time Chief Medical Officer | 2017–present (as disclosed) | CMO responsibilities at external neuro-focused biotech, reinforcing domain expertise |
External Roles
| Organization | Position | Status/Years | Notes |
|---|---|---|---|
| Pinteon Therapeutics Inc. | Part-time Chief Medical Officer | Since 2017 | Ongoing part-time CMO role concurrently with PMN |
| Neurotrope, Inc. (Synaptogenix) | Director & Scientific Advisor | 2014–2017 | Neurodegeneration advisory capacity |
Fixed Compensation
| Component | Amount | Period/Term | Notes |
|---|---|---|---|
| Monthly consulting fee (CMO) | $19,000 per month | Apr 1, 2022 through Apr 1, 2025 (unless earlier terminated) | Part-time CMO under consulting agreement; plus reimbursement of reasonable out-of-pocket expenses |
The Company’s executive pay philosophy emphasizes conservative, long-term alignment and avoiding undue risk-taking in incentive design .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout Mechanics | Vesting |
|---|---|---|---|---|---|---|
| Stock Options (consulting award) | None disclosed (time-based) | Not disclosed | Not applicable | Not applicable | Equity value accrual via time-based vesting; no PSU metrics disclosed | 30,833 options granted on Apr 14, 2022; vest in equal monthly portions over 48 months |
No RSUs/PSUs or bonus metric frameworks are disclosed for Dr. Altstiel; his equity award vests purely on time-based service, not on revenue/EBITDA/TSR metrics .
Equity Ownership & Alignment
- Individual beneficial ownership for Dr. Altstiel is not broken out in the named tables; he is included within the “all directors and executive officers as a group,” indicating option-based exposure as part of aggregate holdings .
- Company insider trading policy expressly prohibits short sales, derivative transactions (puts/calls), buying on margin or holding in margin accounts, and purchasing financial instruments to hedge or offset declines in PMN’s stock value; pledging is flagged as a risk area in policy discussion (margin holding prohibited; explicit pledging ban not separately stated in the excerpt) .
- Stock ownership guidelines and any pledging by Dr. Altstiel are not disclosed.
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Role & Structure | Part-time CMO under a consulting agreement | |
| Agreement Term | April 1, 2022–April 1, 2025 (unless earlier terminated) | |
| Compensation | $19,000 monthly fee + expense reimbursement | |
| Equity Award | 30,833 stock options (Apr 14, 2022) | |
| Vesting | Equal monthly vesting over 48 months | |
| Severance / CoC | Not disclosed for Dr. Altstiel; Company states no formal severance/CoC plan, with severance terms set in individual agreements (examples given for other executives) |
Performance & Track Record
| Date | Milestone | Context |
|---|---|---|
| Jan 10, 2025 | Initiated Phase 1b PRECISE-AD trial of PMN310 in Alzheimer’s | Clinical progression under current management/CMO tenure |
| Sept 3, 2025 | DSMB approval to advance to final dose escalation cohort in PRECISE-AD | Positive safety/advancement signal in Phase 1b |
| July 26, 2024 | Reported top-line results from Phase 1a Alzheimer’s trial of PMN310 | Earlier clinical readout supporting Phase 1b initiation |
These milestones suggest continued execution in PMN310’s AD program during Dr. Altstiel’s tenure as CMO .
Risk Indicators & Policies
- Insider trading and risk management: the Board emphasizes conservative compensation and risk oversight; hedging, short sales, derivative trading, and margin accounts are prohibited by policy, which reduces misalignment risks from hedging/pledging dynamics (pledging itself discussed as risky; margin prohibited) .
- No disclosed legal proceedings or investigations involving Dr. Altstiel in available filings.
Compensation Structure Analysis
- Mix and risk: Dr. Altstiel’s disclosed compensation is predominantly fixed cash (monthly consulting fee) plus time-based options; lack of performance-conditioned equity indicates limited direct linkage to specific operating metrics (e.g., revenue, EBITDA, TSR) .
- At-risk equity is present via options but vests monthly on service, not on achievement of financial/strategic KPIs .
- Committee stance: compensation approach described as conservative and focused on long-term alignment through equity grants after demonstrated success .
Investment Implications
- Alignment: Time-based options create equity exposure, but absence of disclosed performance metrics tied to his incentives limits pay-for-performance calibration. Monthly vesting supports retention yet may not directly drive near-term value creation targets .
- Retention: Consulting agreement runs through April 1, 2025; equity vests through 48 months from grant, suggesting continuity incentives, though post-term vesting mechanics are not disclosed. Age (75 in 2025) and part-time structure are practical retention considerations .
- Trading pressure: Hedging and margin prohibitions mitigate potential misalignment; no personal pledging or ownership breakdown disclosed, so insider selling pressure cannot be assessed from filings .
- Execution: Clinical milestones in PMN310 have advanced during his tenure, supporting operational credibility in AD drug development—a positive qualitative indicator for management execution risk .