ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc.

May 18, 2011 06:15 ET

ProMetic and Wuhan Institute of Biologic Products (WIBP) Expand Their Strategic Partnership

- WIBP to invest further in ProMetic's PPPS™ technology

- ProMetic's new plasma facility instrumental to progress

- Accelerated drug development program: accelerated products' time to market

MONTREAL, QUEBEC--(Marketwire - May 18, 2011) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") announced today that Wuhan Institute of Biologic Products ("WIBP") and its parent company, China National Biotech Group ("CNBG"), have agreed to further expand and strengthen their partnership with ProMetic. This announcement follows a series of successful milestone achievements and close cooperation between the parties in recent years. The decision by ProMetic to establish NewCo, its new facility to manufacture plasma-derived therapeutics in Laval, Quebec, was instrumental in the expansion of this relationship.

"The strategic alliance with ProMetic is in line with our long-term development and corporate objectives", stated Dr. Xiaoming Yang, President of CNBG. "Not only do we reaffirm our support to this mutually beneficial relationship but, in fact, agree to expand the strategic partnership with ProMetic", added Dr. Yang.

The expanded strategic relationship will target the following areas and result in:

- Increased investment in China for the advancement of the PPPS™ manufacturing platform which will significantly expand the resources deployed for the benefit of both CNBG/WIBP and ProMetic;

- Intensification of the development program so that more plasma-derived products can be developed simultaneously and at an accelerated pace;

- ProMetic's new manufacturing facility in Laval, Quebec becoming a strategic platform for WIBP/CNBG;

- Reciprocal technology transfer between WIBP/CNBG and NewCo regarding new manufacturing processes and products being scaled up in China and Canada.

- The original scientific collaboration between the two companies expanded to also include engineering and manufacturing involving the new facilities in Laval (Canada) and in Wuhan (China);

Mr. Pierre Laurin, President and CEO of ProMetic mentioned "This new integration / reciprocity approach provides ProMetic with the opportunity to leverage significant additional resources toward the PPPS™ development program. For instance, all the information gained from the massive investment being done in China to scale up the PPPS™ manufacturing process will be accessed and used by ProMetic at its NewCo facility. The net result for both parties is an accelerated and more cost effective route to commercialization."

Tom Chen, ProMetic's Vice-President, Product & Asia Pacific development concluded, "The two companies are very complementary: ProMetic is providing WIBP with a proven enabling platform to manufacture biopharmaceuticals while WIBP/CNBG possess significant resources and a wealth of experience in the manufacturing of plasma-derived therapeutics. This expanded relationship is of great benefit for WIBP/CNBG as their scientists and engineers will become familiar with manufacturing processes of certain key products at scale prior to these processes being implemented in China."

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. ( 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 23 of ProMetic's Annual Information Form for the year ended December 31, 2010, 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.

Contact Information

  • Pierre Laurin
    President and CEO Director
    ProMetic Life Sciences Inc.

    Frederic Dumais
    Communications and Investor relations
    Prometic Life Sciences Inc.