LAVAL, QUEBEC -- (Marketwire) -- 01/18/13 -- ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic" or the "Corporation") announced today that it has received confirmation from Octapharma of the regulatory approval of Octaplas® by the Food and Drug Administration ("FDA") for the US market.
ProMetic's proprietary prion capture resin, PrioClear, is incorporated in Octapharma's manufacturing process for its solvent/detergent treated, prion-reduced, plasma product, Octaplas®.
"We expect Octaplas' US regulatory approval to significantly contribute to our growth objectives given the overall magnitude of the American market. We believe that the added value provided by ProMetic's prion capture technology will play a key role in the commercial success of this product", said Pierre Laurin, Chief Executive Officer of ProMetic Life Sciences Inc.
ProMetic received purchase orders from Octapharma exceeding $6 million for PrioClear resin in 2012 for approved European countries and to support product launch in new European territories.
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a global biopharmaceutical company specializing in the design of small molecules that mimic unique and specific interactions between proteins, 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, drug development, proteomics and the elimination of pathogens. ProMetic is also active in developing its own novel 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, 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 on page 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.
President and CEO
ProMetic Life Sciences Inc.
Director, Communications and Investor relations
ProMetic Life Sciences Inc.
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