ProMetic Life Sciences Inc.
TSX : PLI

ProMetic Life Sciences Inc.

January 30, 2007 06:00 ET

ProMetic Completes Preclinical Toxicology Studies of PBI-1393 in Support of Offshore Clinical Trial for Advanced Cervical Cancer

Additional Toxicology Studies Provide More Safety Data of PBI-1393

MONTREAL, QUEBEC--(CCNMatthews - Jan. 30, 2007) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") announced today that it has completed the preclinical PBI-1393 toxicology studies for an offshore clinical trial in patients with advanced cervical cancer.

Dr. Christopher Penney, Chief Scientific Officer for ProMetic BioSciences Inc. stated, "Although we had data from previous toxicology studies, we decided to undertake additional studies in pigs and monkeys. The studies in monkeys were not required to proceed with the clinical trial but we committed to this extra step to secure, in a timely and cost effective manner, a complete range of animal safety data." He further added "We are pleased to see that the results obtained in this monkey study match the toxicology results obtained in the rat and pig studies. PBI-1393 shows a promising safety profile devoid of the severe toxicity displayed by other immunostimulants."

PBI-1393 is a less toxic and relatively inexpensive drug with proven stimulation effect on human cytotoxic T-lymphocytes (CTLs) comparable to interleukin-2. CTLs are white blood immune defense cells capable of destroying cancer cells. Chemotherapeutic drugs destroy immune cells in the human body and diminish the patient's anti-cancer defense mechanisms. PBI-1393 is an immunostimulant; it is designed to effectively counteract the adverse effects of chemotherapy and enhance the body's response to cancer.

The Company intends to initiate this quarter, a Phase Ib/II offshore clinical trial specifically designed to monitor the effect of combining PBI-1393 to the standard regimen of chemotherapy used in patients with advanced cervical cancer. "In the United States, drugs approved for the treatment of cervical cancer qualify for orphan drug designation," commented Dr. Jean Barabe, Coordinator of Clinical Studies for ProMetic BioSciences Inc. "Thus, granting of orphan drug designation for PBI-1393 would entitle ProMetic to a number of advantages which include seven years of market exclusivity for PBI-1393." However, the market potential of PBI-1393 is not limited to the treatment of cervical cancer. PBI-1393 is also expected to be useful for the treatment of several different cancers responsive to CTLs, such as metastatic melanoma, colon, breast and pancreatic cancers.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. (www.prometic.com) is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic Ligand™ enabling technology. This technology is used in large-scale purification of biologics and the elimination of pathogens. ProMetic is also active in therapeutic drug development with the mission to bring to market effective, innovative, lower cost, less toxic products for the treatment of inflammation and cancer. Its drug discovery platform is focused on replacing complex, expensive proteins with synthetic "drug-like" protein mimetics. Headquartered in Montreal (Canada), ProMetic has R&D and manufacturing facilities in the UK and business development activities in the US, Europe, Asia and MENA countries (Middle East and North Africa).

Forward Looking Statements

This press release contains forward-looking statements about ProMetic's objectives, strategies and businesses that involve risks and uncertainties. These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, the Company's ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of the Company to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations on page 17 of the Company's Annual Information Form for the year ended December 31, 2005, under the heading "Risk Factors". As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

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