LAVAL, QUEBEC--(Marketwire - Jan. 8, 2013) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic" or the "Corporation") announced today that it has finalized the $10 million strategic equity investment in ProMetic by Shenzhen Hepalink Pharmaceutical Co., Ltd pursuant to the terms and conditions previously disclosed on October 16, 2012.
"The funds received will enable the execution of various strategic initiatives, including the 2013 operational launch of ProMetic's GMP plasma facility, located in Laval, Quebec and dedicated to the manufacturing of plasma derived products", commented Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.
Shenzhen Hepalink Pharmaceutical Co., Ltd (Hepalink) is the largest supplier of Heparin Sodium API in the world, distributing its products in the global markets and internationally renowned pharmaceutical companies, including Sanofi-Aventis, Fresenius Kabi, and Novartis. Hepalink was established in 1998 and was listed on the Shenzhen Stock Exchange on May 6, 2010. Hepalink's headquarters are located in the Shenzhen High-Tech Park.
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a global biopharmaceutical company specializing in the design of small molecules that mimic unique and specific interactions between proteins, 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, drug development, proteomics and the elimination of pathogens. ProMetic is also active in developing its own novel 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 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.