ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

September 11, 2007 12:00 ET

ProMetic Closes Financing for a Total of C$6.6 M

MONTREAL, QUEBEC, CANADA--(Marketwire - Sept. 11, 2007) - Not for Distribution in the United States or Through U.S. Newswire Services.

ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") is pleased to confirm the closing of its financing as announced on September 4, 2007, for gross proceeds of C$6,609,375. ProMetic issued 18,883,928 subordinate voting shares ("Subordinate Shares") at a price of C$0.35 per Subordinate Share.

Of this total, 13,348,214 Subordinate Shares were issued and sold at a price of C$0.35 under a brokered offering (the "Brokered Offering") pursuant to an agency agreement, as amended, between Paradigm Capital Inc. and ProMetic for gross proceeds of C$4,671,875. This issue includes the exercise of the over-allotment option equal to 15 percent of the Subordinate Shares sold under the Brokered Offering.

The remaining 5,535,714 Subordinate Shares were issued by ProMetic and sold at a price of C$0.35 per Subordinate Share for gross proceeds of C$1,937,500. These Subordinate Shares have been issued directly to U.S. institutional investors. Rodman & Renshaw Capital Group, Inc., (OTCBB:RDRN) (formerly Rodman & Renshaw, LLC, a wholly owned subsidiary of Enthrust Financial Services, Inc.), acted as a financial advisor to ProMetic for this offering.

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 U.K., the U.S. and Canada, manufacturing facilities in the U.K. and business development activities in the U.S., 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 the 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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