ProMetic Life Sciences Inc.
TSX : PLI.SV

ProMetic Life Sciences Inc.

April 10, 2006 10:20 ET

ProMetic Initiates Patient Enrollment for its Anemia Drug PBI-1402 Phase Ib/II Clinical Trial: Data to be Presented at BIO Business Forum

MONTREAL, CANADA--(CCNMatthews - April 10, 2006) - ProMetic BioSciences Inc., the therapeutic unit of ProMetic Life Sciences Inc. (TSX:PLI.SV), announced today that it has started enrollment of patients for its Phase Ib/II clinical trial of PBI-1402. The study is designed to monitor the safety and efficacy of its compound in cancer patients undergoing chemotherapy and suffering from anemia.

This clinical trial is undertaken at Maisonneuve-Rosemont Hospital, in Montreal, under the supervision of Drs. Denis-Claude Roy (hematologist) and Julie Beaudet (oncologist). This trial will consist of thirty patients in two cohorts. Each cohort will receive PBI-1402 or placebo for two months and, in the case of favorable results, the treatment may be extended up to another four months. The first cohort will receive PBI-1402 at a dose suggested by the Phase I trial and this dose will subsequently be adjusted, based on the outcome, for the second cohort.

Several experiments demonstrated the effect of PBI-1402 in mice that had their immune system suppressed by chemotherapy. The results clearly demonstrate that PBI-1402 promotes the growth of red blood cells, and also protects various tissues such as spleen and bone marrow from the toxic effects of chemotherapy.

"These animal studies, the increase in reticulocytes in healthy humans and the additive effect of PBI-1402 with erythropoietin (EPO) on human and mouse bone marrow cells treated in vitro, support the rationale for first studying the effect of PBI-1402 in cancer patients" stated Dr. Christopher Penney PhD, Chief Scientific Officer for the Therapeutic Unit. "The mechanism of action of PBI-1402 is different from that of EPO and as such may address the resistance to EPO commonly observed in patients suffering from anemia associated with cancer or chemotherapy".

It is estimated that of the 1.3 million new patients treated with chemotherapy annually in the US, and in certain cancer subgroups, as many as 67% will develop anemia. Of this patient base, approximately 10% are treated with EPO and it is reported that as many as 35% - 40% will be resistant to the EPO treatment.

"It is clear that the anemia associated with cancer or chemotherapy is an unsatisfied market and demonstrating PBI-1402 efficacy in such type of patients would represent a significant improvement to current therapy" said Pierre Laurin, Chief Executive Officer of ProMetic. "Additionally, PBI-1402 has the potential to treat anemia not associated with cancer or chemotherapy. This would represent an expanded market made more accessible since, unlike EPO, PBI-1402 can be taken by the oral route."

Pierre Laurin will be presenting data on PBI-1402 at BIO 2006 Business Forum, which is part of BIO 2006, the Biotechnology Industry Organization's Annual International Convention being held at McCormick Place Convention Center in Chicago from April 8-12, 2006. Mr. Laurin's presentation will be on Tuesday, April 11th, at 9:30 a.m. local time in Room C, McCormick Place South Building, Hall A2.

About The Bio Business Forum

The Bio Business Forum is the largest partnering and networking program in the industry. It is a program that offers pharmaceutical companies, biotechnology companies, academic research institutions and investors from around the world the unique opportunity to gather in one place at one time to learn about each other and to meet one-on-one to discuss business opportunities of mutual interest.

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 the Isle of Man and business development activities in the US, Europe, Asia and countries in the Middle East and North Africa.

Additional information is available on the Company's website at www.prometic.com.

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 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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