ProMetic Life Sciences Inc.
TSX : PLI
OTCQX : PFSCF

ProMetic Life Sciences Inc.

June 16, 2015 07:00 ET

ProMetic Provides Update Regarding GENERIUM's Large-Scale Plasma Purification Facility

- Construction of the facility is progressing rapidly and ahead of schedule

- GENERIUM's facility expected to be fully operational in H2 2017

- GENERIUM to dedicate specific manufacturing capacity to ProMetic for selected orphan drugs

LAVAL, QUEBEC--(Marketwired - June 16, 2015) -

Editors Note: There are photos associated with this press release.

ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF), ("ProMetic" or the "Corporation") today provided an update regarding its strategic partnership with GENERIUM Pharmaceuticals ("GENERIUM"). This partnership provides for several plasma-derived biopharmaceuticals to be manufactured in GENERIUM's facility and commercialized in Russia and CIS, as well as for the co-development and co-global commercialization of two plasma-derived coagulating factors.

ProMetic is pleased to update its stakeholders that the construction of Generium's GMP plasma purification facility is progressing rapidly and ahead of the originally anticipated timelines. The facility designed to process up to 600,000 liters of plasma annually is expected to be operational in H2 2017. Moreover and pursuant to the parties' intentions to leverage each other's capacity as contract manufacturing organizations for specific biopharmaceutical products, GENERIUM has committed to use only FDA / EMA certified plasma. This will provide ProMetic with greater indirect manufacturing capacity than originally anticipated for the production of specific, high-value, orphan drugs. ProMetic will reciprocate by contributing part of its existing manufacturing capacity to GENERIUM's development program and global commercialization efforts related to two plasma-derived coagulation factors.

"We are extremely pleased with the rapid progress made to date in our strategic alliance with GENERIUM as all programs are progressing aggressively. This clearly demonstrates GENERIUM's strong corporate commitment to the development of the plasma-derived therapeutics market in Russia and CIS, and to ProMetic's platform technology", stated Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.

Dr. Alexander Shuster, Chairman of the Board of GENERIUM Pharmaceuticals, commented, "We already see great synergies being derived from our partnership with ProMetic. Our respective manufacturing capabilities and domains of therapeutic expertise are highly complementary".

A selected number of photos showing the progress of the construction of the GENERIUM plasma purification facility has been sent to newsrooms along with this press release and will be accessible from ProMetic's website at: http://www.prometic.com/en/prometic/partners.php

More about GENERIUM

GENERIUM is a Russian innovative vertically integrated biotechnological company focused on science-driven drug development, production and commercialization. GENERIUM runs its own R&D center and full-cycle manufacturing unit. The company is providing patients with affordable drugs and diagnostics for treatment of diseases with high medical need, including orphan and hereditary diseases, such as hemophilia and growth hormone deficit, oncological, infectious, cardiovascular diseases and multiple sclerosis.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. (www.prometic.com) is a long established biopharmaceutical company with globally recognized expertise in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule 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 and Asia.

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 in ProMetic's Annual Information Form for the year ended December 31, 2014, 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.

To view the photos associated with this press release, please visit the following links:

http://www.marketwire.com/library/20150615-1012637e_1_800.jpg

http://www.marketwire.com/library/20150615-1012637e_2_800.jpg

Contact Information

  • Pierre Laurin
    President and CEO
    ProMetic Life Sciences Inc.
    +1.450.781.0115
    p.laurin@prometic.com

    Frederic Dumais
    Director, Communications and Investor relations
    ProMetic Life Sciences Inc.
    +1.450.781.0115
    f.dumais@prometic.com