ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

December 14, 2007 15:20 ET

ProMetic has Completed Draw Down on Nanuq Facility at an Average Price Above C$0.57 Per Share

MONTREAL, QUEBEC, CANADA--(Marketwire - Dec. 14, 2007) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") announced today that it has closed on the draw down ("Draw Down") with Nanuq Investments Ltd. ("Nanuq") that was filed on December 6, 2007. 610,968 subordinate voting shares ("Subordinate Shares") were issued to Nanuq at an average price above $0.57 per subordinate share for gross proceeds of C$350,000. Details of the draw down are set out in a pricing supplement ("Supplement") dated December 14, 2007 to a short form base shelf prospectus ("Prospectus") dated November 3, 2006, as amended and supplemented, available at the SEDAR website at

"As stated previously, this Facility offers us the flexibility to draw on funds when the market conditions are optimal for ProMetic, hence providing the Company with the ability to control the amount of money it wishes to draw while maximizing on ProMetic's higher share price," stated Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.

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 US, 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, unless required by applicable securities laws and regulations.

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