ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

March 22, 2007 00:00 ET

ProMetic and Instituto De Tecnologia Do Parana of Brazil Sign $19 Million Technology Transfer and Licensing Deal

- ProMetic to license proprietary manufacturing technology for production of biopharmaceuticals - Instituto de Tecnologia do Parana (Tecpar) to manufacture biopharmaceuticals for Brazil and other South American markets

MONTREAL, QUEBEC AND CURITIBA, BRAZIL--(CCNMatthews - March 21, 2007) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") and Tecpar announced today the signing of a technology transfer and licensing agreement to enable Tecpar to locally manufacture a complex biopharmaceutical product for the Brazilian domestic market as well as all other South American countries. The total transaction is valued at $19 million dollars.

ProMetic will manage the development of the proprietary manufacturing process which is based on technology licensed from the Biotechnology Research Institute ("BRI") which is part of the National Research Council of Canada ("NRCC"), and ProMetic's own bioseparation process which uses Mimetic Ligand™ technology. As part of the agreement, ProMetic has granted to Tecpar an exclusive license to use the technology for a selected biopharmaceutical product for the entire South American market. The project will involve a selected team from all parties including scientists from ProMetic and BRI and scientists and engineers from Tecpar and Validapro, a Quebec-based company dedicated to fulfilling regulatory compliance needs in the pharmaceutical industry.

From the global budget of $19 million earmarked for this project over the next two years, approximately $9 million is allocated to ProMetic for license, milestones and development payments. Another $10 million is allocated for the modification of Tecpar's current facility, the acquisition of dedicated equipment and validation process. In the commercial phase, Tecpar will be purchasing the affinity adsorbents from ProMetic and will pay a royalty on net sales.

"This technology transfer agreement has been established as part of Brazil's objective to become self-sufficient in the manufacturing of complex biopharmaceutical products," said Mariano de Mattos Macedo, President of Tecpar. He added, "The production of the first drug alone will generate an economy of R$90 million ($50 million) a year for the Brazilian government, which currently imports the drug. We are very pleased to partner with ProMetic and BRI and to benefit from their respective proven technology and know-how for the development of bioprocesses."

"Brazil is a pivotal market in our global strategy to license enabling technology", said Pierre Laurin, President and Chief Executive Officer of ProMetic. "This initial project will lead to the creation of a centre of excellence from which more drugs will eventually be manufactured and provide the Brazilian government with the ability to access high quality biopharmaceuticals at better prices".

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 UK, the USA and Canada, manufacturing facilities in the UK and business development activities in the US, Europe, Asia and in the Middle-East.

About Tecpar

Tecpar ( is a state-owned enterprise from Paraná state, in Southern Brazil, with a mission of contributing to the technical progress of economic activities and improvement of quality of life by adopting innovative solutions. Tecpar is a known center of excellence for activities involving research, development, and production in the areas of pharmaceuticals (biologicals and fine chemistry) and biofuels, as well as services in the areas of metrology, assays and certification.

About BRI

The NRC Biotechnology Research Institute ( is the largest NRC laboratory in Canada dedicated to R&D in biotechnology. More than 800 people, including NRC personnel, students, guest researchers and scientists, work in three main sectors of research: health, bioprocess and environment and in the Industrial Partnership Facility. It maintains ties with industry and universities to generate benefits for Canada.

About Validapro Inc.

Validapro is a consulting firm entirely dedicated to fulfilling regulatory compliance needs in the pharmaceutical, biotechnological and medical devices industries. Validapro offers all the support that is needed to reach total compliance towards Canadian (TPP), American (FDA), and European (EMEA) regulations. This support ranges from initial design to final regulatory agreement. Employing a wide range of expertise, Validapro offers a turnkey approach where engineering, project management, training, preparation of procedures and validation integrate perfectly.

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 on page 17 of 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.

Contact Information

  • ProMetic Life Sciences Inc.
    Pierre Laurin
    President and CEO
    ProMetic Life Sciences Inc.
    Anne Hodgkinson
    Communications Manager
    514-341-2115 ext.2234