ProMetic Life Sciences Inc.
TSX : PLI

ProMetic Life Sciences Inc.

November 01, 2007 06:00 ET

ProMetic Reports Positive Pre-Clinical Data for PBI-1402 in Anemia Related to Renal Failure

- Data supports clinical program for anemia in patients with chronic kidney disease ("CKD")

MONTREAL, QUEBEC--(Marketwire - Nov. 1, 2007) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") announced today positive pre-clinical results for PBI-1402, the Company's lead compound for treating anemia.

PBI-1402 was tested in the 5/6 nephrectomized rat model which simulates chronic renal failure in humans resulting in loss of kidney functions and anemia subsequent to a reduced level of erythropoietin ("EPO") normally produced by the kidneys. The new pre-clinical results indicate that a once a day oral administration of PBI-1402 increases circulating red blood cells and hemoglobin level comparable to normal range values.

"We are very excited about these results," commented Dr. Lyne Gagnon, Director of Research and Development, Biology, at ProMetic BioSciences Inc. She added, "This leads us to believe that PBI-1402 can play an important role in the treatment of patients with anemia related to renal disorders."

"To date ProMetic had reported efficacy of PBI-1402 in humans and in animal models where bone marrow was suppressed by chemotherapy, another major leading cause of anemia," said Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc. "These results indicate for the first time the ability of PBI-1402 to reverse anemia when kidneys have failed to secrete sufficient amounts of EPO to maintain normal levels of red blood cells and hemoglobin. This opens up a large and lucrative commercial opportunity for PBI-1402, e.g. anemia of CKD patients."

In the U.S. alone, approximately 20 million people have CKD and another 20 million are at risk to develop it. Only an estimated 600,000 patients suffering from CKD or on renal dialysis presently under nephrologists' care are receiving the current therapy, rhEPO, representing an estimated $4 B revenue.

About PBI-1402

PBI-1402 is an orally active compound being developed to treat different types of anemia, such as CIA. Positive preliminary clinical data was announced in July 2007 for ProMetic's PBI-1402 CIA clinical trial. ProMetic has recently expanded its clinical program for PBI-1402 into the treatment of anemia in patients with myelodysplastic syndrome ("MDS"), a condition often referred to as "pre-leukemia". Clinical trials in patients with anemia associated to chronic kidney diseases are also scheduled to commence shortly.

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™ 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 hematology 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 facilities in the U.K., the U.S. and Canada, manufacturing facilities in the U.K. and business development activities in the US, Europe, Asia and in the Middle-East.

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, ProMetic'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 ProMetic 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 21 of ProMetic's Annual Information Form for the year ended December 31, 2006, 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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