ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

October 25, 2006 07:00 ET

ProMetic Announces Positive Development for Mad Cow Disease Detection

MONTREAL, QUEBEC--(CCNMatthews - Oct. 25, 2006) - BSafE Innovations Inc. (BSafE), a joint venture company owned by ProMetic Life Sciences Inc. (TSX:PLI) and Top Meadow Farms, dedicated to veterinary applications of prion research, is delighted to announce preliminary findings from its most recent testing.

BSafE has in-licensed some veterinary applications of proprietary technologies developed by Pathogen Removal and Diagnostic Technologies Inc. ("PRDT"), a joint venture between the American Red Cross and ProMetic Life Sciences Inc. (ProMetic).

BSafE relies on the same PRDT platform technology and core competency used to develop the first human prion blood filter which just received European regulatory approval and which will be launched on a commercial scale by MacoPharma over the coming months.

Encouraged by the performance of the technology with human prions, PRDT scientists have been working on behalf of BSafE to demonstrate that the technology can be adapted to target specifically the bovine form of prions. Recent experiments have confirmed the ability of the proprietary technology to greatly enhance the sensitivity of post mortem testing for Mad Cow Disease.

"These initial results are very encouraging and could enable the detection of Mad Cow Disease in much younger animals and at much earlier stages of the disease to improve the safety of the food chain," said Christian Frayssignes, President and CEO of BSafE.

"Our overall expertise in prion research and ligand development over many years has lead us to this exciting development," said Pierre Laurin, President of ProMetic. "The future is very promising for the veterinary applications of this technology."

Further testing is underway to replicate the experiments under different conditions to confirm commercial applications. The first objective of BSafE is to provide the beef industry with a reliable and simple way to further improve the sensitivity of the current standard tests. BSafE's first device would take the form of a filter that would amplify the signal by concentrating bovine prions from brain tissue. BSafE filters will be designed to fit with current diagnostic testing providers. Ultimately, the company believes it will be possible to detect the disease from a simple blood sample.

"There is a real need for a more sensitive post mortem test than exists today in the market, for consumers around the world, regulatory bodies and researchers. This technology could pave the way down the road for a live animal diagnostic", said Kym Anthony, principal of Top Meadow Farms, Chairman of BSafE and a Director of ProMetic.

More about BSafE

The BSafE unit is a joint venture with Top Meadow Life Sciences Inc., an affiliate of Top Meadow Farms headquartered in Clarksburg, Ontario. The unit's primary mission will be the continued development and commercialization of a bovine BSE diagnostic-a testing device that will detect the presence of TSE prions (the proteins that carry "mad cow" or vCJD agents) in blood samples taken from live cattle. This BSE diagnostic will be developed for use by herd owners, governments and health regulators with the goal of making it the purification standard by which live cattle can be certified as fit for sale and consumption.

More about PRDT

PRDT is a joint-venture company set up in April 2002 by The American Red Cross and ProMetic Life Sciences Inc. 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.

More about ProMetic Life Sciences

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 business development activities in North America and Europe.

Additional information is available on the Company's website at

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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