ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

November 30, 2011 07:30 ET

ProMetic Provides Update on Its Plasma-Derived Products Venture With China National Biotech Group ("CNBG")

-Successful scale up of first plasma-derived therapeutic by CNBG

-Confirmation of successful technology transfer

-ProMetic's process to be operational in CNBG's Wuhan facility in 2012

LAVAL, QUEBEC, CANADA AND ROCKVILLE, MARYLAND, USA--(Marketwire - Nov. 30, 2011) - ProMetic life sciences inc. (TSX:PLI) ("ProMetic") announced today that its expanded partnership with wuhan institute of biologic products ("wibp") and its parent company cnbg has resulted in the successful completion of the first set of milestones associated with the scaling up of the plasma protein purification system (PPPS™) manufacturing platform in cnbg's wuhan facility.

"The scaling up of our PPPS™ process is a significant milestone achievement for all parties involved and clearly testifies to the benefits of our expanded partnership with WIBP/CNBG. It confirms the robustness of our PPPS™ process and the success of the ongoing technology transfer program" stated Tom Chen, Vice-President Product and Asia Pacific Development. Dr Chen added "We are very pleased that our technology has once again delivered in terms of expected yield and purity."

The expansion and strengthening of the relationship has allowed for a quicker scaling up of activities and faster development program within CNBG's facilities. This has also had the beneficial effect of very valuable off balance sheet funding for ProMetic. This scale up exercise has already created critical knowledge which will lead to further cost reduction for ProMetic's own facility in Laval.

Pierre Laurin, CEO of ProMetic commented, "Our partnership with CNBG's WIBP subsidiary has more then met the strategic objectives hoped for when the relationship began" Mr Laurin added, "It is exciting to see our manufacturing platform process perform in their facility. CNBG is China's largest biotech company and the world's fourth largest maker of vaccines and blood products. Our recent achievement with them fulfills one of ProMetic's long standing priorities for its technology".

About Wuhan Institute of Biological Products

WIBP ( or, located in Wuhan, China, one of the subsidiaries of Sinopharm, has over 60 years experience in the fields of biomedical research and product development; historically strong in R&D, WIBP is the only institute certified by state to offer doctoral program among six Institute of Biological Products in Sinopharm. Today, WIBP has more than 1,200 employees, and major products include two dozen vaccines and plasma derivatives currently marketed throughout the China.

About China National Biotech Group

CNBG ( or, headquartered in Beijing, China, is a state-owned enterprise and the largest biotech company in China dedicated to discover, develop, manufacture and market a broad range of human health products, including vaccines, blood derivatives, biopharmaceuticals, diagnostic reagents and others. With more than 9,000 employees, CNBG is the largest producer of vaccines and blood derivatives in China, enjoying more than 80% and 30% market share respectively. The company consists of 6 Institute of Biological Products.

About the Plasma Protein Purification System

The Plasma Protein Purification System (PPPS™) allows for the targeting and removal of multiple high-value proteins from a single plasma sample at unprecedented activity levels using ProMetic's Mimetic™ Ligand adsorbent technology. This system also provides for the recovery of new biotherapeutics as they are discovered and identified. The effect of this process is to reduce the significant losses incurred when using the more conventional Cohn precipitation process.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ("ProMetic") ( 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 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 27 of ProMetic's Annual Information Form for the year ended December 31, 2010, 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. All amounts are in Canadian dollars unless stated otherwise.

Contact Information

  • Company inquiries:
    Pierre Laurin
    President and CEO
    ProMetic Life Sciences Inc.

    Frederic Dumais
    Director, Communications and
    Investor Relations
    ProMetic Life Sciences