ProMetic Life Sciences Inc.
TSX : PLI

ProMetic Life Sciences Inc.

May 19, 2006 07:00 ET

PRDT Announces Signing of License Agreement

MONTREAL, QUEBEC and LILLE, FRANCE--(CCNMatthews - May 19, 2006) - ProMetic Life Sciences Inc. (TSX:PLI)

License Now To Include Exclusive Worldwide Manufacturing Rights

Pathogen Removal and Diagnostic Technologies Inc. (PRDT), a joint venture between ProMetic Life Sciences Inc. (TSX:PLI) and the American Red Cross, today announced that it has signed a definitive license agreement with MacoPharma.

PRDT and its manufacturing and commercial partner, MacoPharma, a European industry leader in blood collection and filtration systems are bringing to market the first prion filter to demonstrate reduction of TSE prions from whole blood. TSEs are fatal brain diseases that include Bovine Spongiform Encephalopathy (BSE) or "mad cow disease" in cattle and Creutzfeldt-Jakob Disease (vCJD) in humans.

The P-CAPTTM filter, incorporating PRDT's affinity technology for the binding and removal of prion proteins, has been developed for the prion reduction of leucodepleted red blood cell concentrates.

Under the terms of the license, MacoPharma has obtained the exclusive sale and distribution rights for the P-CAPT™ filter within Europe, in addition to being granted an exclusive worldwide manufacturing license.

Following the successful completion of an extensive endogenous (blood-borne) infectivity study, the P-CAPTTM filter is now being scaled-up for commercial production in MacoPharma's state-of-the-art manufacturing facility in Lille, France. The prion-binding affinity resin which is incorporated into the P-CAPTTM filter will be supplied to MacoPharma by ProMetic Biosciences Ltd, the U.K. subsidiary of ProMetic Life Sciences. MacoPharma expects that the product will receive CE mark approval and be launched in 2006.

About PRDT

PRDT is a joint-venture company set up in March 2002 by The American National Red Cross, ProMetic Life Sciences Inc., ProMetic BioSciences Ltd., Dr. Robert G. Rohwer and Dr Ruben G. Carbonell. PRDT allows for a reciprocal exchange of technology and a knowledge base developed between the American Red Cross and ProMetic. PRDT's main goal is to develop products and devices to remove and detect different pathogens from biological sources. This research augments work that ProMetic, the American Red Cross and PRDT's scientific founders have been conducting independently for many years.

About MacoPharma

MacoPharma is an innovator in global healthcare with expertise in the fields of transfusion and infusion. The Company has become the largest supplier of in-line leucodepletion filtration sets in Europe and is expanding its efforts into the biotherapy field by developing products for cell expansion, in addition to cell/organ processing and freezing. Headquartered in the Lille metropolitan area (France), MacoPharma has three manufacturing facilities in Europe and its products are now sold into more than 55 countries worldwide. One of MacoPharma's aims is to provide a comprehensive range for the reduction of infectious agents in plasma, platelets and red cells. This is conducive with the MacoPharma product development strategy of the continuous quest, through partnerships, for improved safety, efficacy, and quality of transfusion, infusion and biotherapy. For more information please contact: www.macopharma.com

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. 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 the Isle of Man and business development activities in the US, Europe, Asia and countries in the Middle East and North Africa. Additional information is available on the Company's website at www.prometic.com.

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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