ProMetic Life Sciences Inc.
TSX : PLI

ProMetic Life Sciences Inc.

December 18, 2006 14:22 ET

ProMetic to Supply CAD$3.9 Million Worth of Proprietary Affinity Adsorbent to One of its Existing Multinational Clients

MONTREAL, CANADA--(CCNMatthews - Dec. 18, 2006) - ProMetic BioSciences Ltd (PBL), the UK subsidiary of ProMetic Life Sciences Inc. (TSX:PLI) announces it has reached an agreement to supply to one of its existing multinational clients, large quantities of proprietary affinity adsorbent. The order for a Mimetic LigandTM product valued at CAD$3.9 Million will be supplied to the client in the first and second quarters of 2007.

ProMetic's affinity adsorbents are based on its proprietary technology, Mimetic LigandTM. These products are manufactured to strict quality standards at the company's state-of-the-art GMPcompliant manufacturing facility located on the Isle of Man.

"Our past investments to expand the capacity of our facility can allow the supply of very large quantities of adsorbents", said commented Pierre Laurin, President and CEO of ProMetic. "This revenue contributes to our previously announced revenue guidance for 2007 which is projected to exceed CAD$15 Million".

"This is great news as we have been anticipating the implementation of this large scale process by our client", commented Dr. Steve Burton, CEO of PBL. "This confirms the capabilities offered by ProMetic in customization of synthetic ligands and the large scale of production that these adsorbents can be used for".

ABOUT PROMETIC LIFE SCIENCES INC.

ProMetic Life Sciences Inc. (TSX:PLI) (www.prometic.com) is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic LigandTM 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 Montréal (Canada), ProMetic has R&D and manufacturing facilities in the UK and business development activities in the US, Europe, Asia and MENA countries (Middle East and North Africa).

ABOUT PROMETIC BIOSCIENCES LTD

Using its unique and proprietary Mimetic LigandTM technology, PBL specializes in the development and manufacture of robust affinity separation materials which provide very high levels of purification. This is achieved by use of small chemical affinity ligands designed to bind a target biomolecule specifically and reversibly. In view of their use for the production of therapeutics, ProMetic's affinity products are manufactured to strict quality standards at PBL's GMP-compliant manufacturing facility on the Isle of Man, which completed a £1.5 millions expansion in 2005. PBL also operates an R&D laboratory located on the Cambridge Science Park, United Kingdom.

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.

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