ProMetic Life Sciences Inc.
TSX : PLI
OTCQX : PFSCF

ProMetic Life Sciences Inc.

November 02, 2015 06:30 ET

ProMetic Announces the Appointment of Its New Chief Financial Officer

LAVAL, QUEBEC--(Marketwired - Nov. 2, 2015) - ProMetic Life Sciences Inc. (TSX:PLI) (OTCQX:PFSCF) ("ProMetic" or the "Corporation") is pleased to announce the appointment of Mr. Gregory Weaver, as its Chief Financial Officer. This announcement follows the promotion of Mr. Bruce Pritchard to the position of Chief Operating Officer, announced earlier in August 2014. Mr. Pritchard had, in the interim, continued to act as CFO for ProMetic.

Mr. Weaver is a senior finance professional with extensive and relevant biopharmaceutical sector experience, both as CFO and Board Director, of NASDAQ-listed and private companies, in the fields of drug development, medical devices, and drug delivery, with a focus on growth from start-up through IPO, as well as product commercialization and exit strategies. His specialties include: executive financial leadership, investor relations, financing transactions, accounting and financial reporting and M&A. Mr. Weaver also has Non-Executive Director experience as chairman of both Audit and Compensation Committees of publicly traded companies. Prior to joining ProMetic, Mr. Weaver was Executive Vice-President and Chief Financial Officer at ORYZON GENOMICS, Senior Vice-President and Chief Financial Officer at FIBROCELL SCIENCE and Senior Vice-President and Chief Financial Officer at CELSION.

Commenting on Mr. Weaver's appointment, Mr. Pierre Laurin, ProMetic's President and CEO stated, "I am delighted to be welcoming Greg to the senior management team at this important time in ProMetic's growth. Greg's skills and experience perfectly complement those of the existing team and will add additional management bandwidth to allow us to continue delivering on our corporate plans". He added, "Greg inherits a finance function which, under Bruce's leadership has been developed into a robust machine capable of supporting the planned growth, coupled with a balance sheet that provides the foundation for the future. Bruce will remain involved in an oversight role in finance, but will now dedicate most of his time to developing the operational infrastructure required to support the commercial pipeline".

Speaking about his appointment, Mr. Weaver stated, "I am excited to be joining the company at this important stage in its growth. ProMetic's superior technological platforms and solid team make this a fantastic opportunity. I look forward to contributing to ProMetic's progress that has been made so far, and to working with Pierre and the team".

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. (www.prometic.com) is a long established biopharmaceutical company with globally recognized expertise in bioseparation, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule therapeutic products targeting unmet medical needs in the field of fibrosis, anemia, neutropenia, cancer and autoimmune diseases/inflammation as well as certain nephropathies. Headquartered in Laval (Canada), ProMetic has R&D facilities in the UK, the U.S. and Canada, manufacturing facilities in the UK and commercial activities in the U.S., Europe, Russia, Australia and Asia.

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 in ProMetic's Annual Information Form for the year ended December 31, 2014, under the heading "Risk and Uncertainties related to ProMetic's business". 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, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless indicated otherwise.

Contact Information

  • Pierre Laurin
    President and CEO
    ProMetic Life Sciences Inc.
    p.laurin@prometic.com
    +1.450.781.0115

    Frederic Dumais
    Senior Director, Communications and Investor Relations
    ProMetic Life Sciences Inc.
    f.dumais@prometic.com
    +1.450.781.0115