ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

October 22, 2007 15:45 ET

ProMetic Announces Nominations at Management Level

- Optimized corporate structure to capitalize on corporate development opportunities

MONTREAL, QUEBEC, CANADA--(Marketwire - Oct. 22, 2007) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") announces the following nominations and reorganization at its management level in order to better position the Company to capitalize on recent and upcoming corporate development activities related to ProMetic's main value drivers.

"This realignment of executives is also a clear progression toward a corporate structure better suited to manage growth resulting from anticipated business transactions," commented Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer. "We anticipate that recent and forthcoming corporate developments will enable ProMetic to position itself as a company focused in the field of hematology and oncology."

A critical mass of value driver and revenue generator products developed by ProMetic and its strategic partners are designed to address medical problems with blood and cancer (e.g. removal of pathogens from blood, treatment of bleeding disorders, treatment of anemia, treatment of chemotherapy-induced anemia, treatment of certain types of cancer, purification and manufacture of plasma proteins, etc.). "On the surface, much of the business activities of the Company remain unchanged. However, management of core competencies and core technologies within ProMetic, irrespective of its location (United Kingdom, United-States or Canada), will be centralized to support the development and commercialization of hematology / oncology applications," said Mr. Laurin.

Mr. Bruce Pritchard is to be appointed Vice-President, Corporate Development of ProMetic. Mr. Pritchard's past performance and vast experience makes him ideally suited to manage ProMetic's multiple development opportunities. In addition, he will continue in his role of Chief Financial Officer of the UK subsidiary.

Dr. Steve Burton will continue in the capacity of Chief Executive Officer of ProMetic's UK subsidiary. While Dr. Burton's mandate will still include managing revenue growth from ProMetic's multiple Mimetic Ligand™-derived products, more emphasis will be placed on value creation from blood-derived products and applications such as removal of pathogens and production of orphan products for bleeding disorders.

Dr. Peter Edwardson, who previously held the position of Vice-President at PRDT will now assume the role of Vice-President, Medical Technologies of ProMetic. In addition to overseeing the commercial phase of PRDT's P-Capt® filter in conjunction with Macopharma, Dr. Edwardson will also direct the development of new medical applications for ProMetic's proven platform technologies, including those for BSafE diagnostics applications.

Mr. Stephane Archambault, who has been acting as Vice-President, Finance for the last three years, has now been promoted to the position of Chief Financial Officer for the ProMetic group. Mr. Archambault's functions include treasury, financing, taxation, and activities related to mergers and acquisitions.

ProMetic has also taken this opportunity to restructure and reorganize its legal department, abolishing the position of General Counsel that was previously held by Mr. Mark Bandrauk. Mr. Patrick Sartore, Senior Legal Counsel, Intellectual Property and Ms. Suzie Guillemette, Senior Legal Counsel, will take over legal activities for ProMetic. Furthermore, Mr. Sartore has been nominated as Corporate Secretary for ProMetic.

"We would like to thank Mark for his contributions as General Counsel over the last while and wish him well in his future endeavors," said Mr. Laurin.

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™ 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 UK, the USA and Canada, manufacturing facilities in the UK and business development activities in the USA, 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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