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Press release from Marketwire

ProMetic: Presentations at the European Hematology Association's Annual Meeting Offer Insights Into PBI-1402's Expanded Indications in Oncology

Wednesday, June 09, 2010

ProMetic: Presentations at the European Hematology Association's Annual Meeting Offer Insights Into PBI-1402's Expanded Indications in Oncology14:15 EDT Wednesday, June 09, 2010MONTREAL, QUEBEC--(Marketwire - June 9, 2010) - - Comparative data with erythropoietin in various cancer models - Clinical data in oncology patients developing anemia under chemotherapy ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") will present data on its orally-active PBI-1402 compound at the 15th Congress of the European Hematology Association held in Barcelona, Spain, June 9 - 13, 2010. Clinical and preclinical results will be presented about the management of side effects induced by chemotherapy and the treatment of certain cancers such as lung and pancreatic cancers, and certain forms of leukemia.In addition, an oral presentation will be made regarding the positive clinical data generated in patients that developed anemia as a result of their chemotherapy. PBI-1402 is a first-in-class candidate drug with clinical data that demonstrated a reduction in the need for blood transfusions in chemotherapy-induced anemic patients. Furthermore, the trial indicated that the level of hemoglobin and red blood cells never exceeded recommended levels even when the drug was used at high dose. This, combined with anti-cancer activity demonstrated in numerous cancer models, supports the potential use of PBI-1402 to address unmet medical needs in oncology."The data accumulated through our latest research distinguishes PBI-1402 from all other ESAs and has suggested additional applications. Furthermore, the identification of follow-on analogues resulted from this work," stated Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer. "Not only did the findings allow us to define clear regulatory pathways for PBI-1402; our scientists have also discovered new and proprietary compounds that regulate fibrosis via a novel mechanism of action. Fibrosis is part of the inflammatory process that leads to a loss of functionality in vital organs such as kidney, heart, liver and lungs in certain chronic diseases that affects hundreds of millions of patients. This is exciting because the understanding of how PBI-1402 works has considerably expanded the value of the drug portfolio," added Mr. Laurin.Among the studies to be presented:June 11, 2010 at 17:45 (CEST) - Poster session "Comparative studies between erythropoietin (EPO) and PBI-1402, a new erythropoiesis-stimulating agent (ESA), on murine cancer models"June 13, 2010, at 08:30 (CEST) - Oral presentation"PBI-1402: A first-in-class ESA which reduces the need for blood transfusion in chemotherapy-induced anemic patients"About ProMetic Life Sciences Inc. ProMetic Life Sciences Inc. ("ProMetic") (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 Ligand(TM) 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 Montreal (Canada), ProMetic has R&D facilities in the U.K., the U.S. and Canada, manufacturing facilities in the U.K. 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2009, 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.FOR FURTHER INFORMATION PLEASE CONTACT: ProMetic Life Sciences Inc. Pierre Laurin President and CEO 514-341-2115 p.laurin@prometic.com or ProMetic Life Sciences Inc. Anne Leduc Manager, Investor Relations & Communications 514-341-2115 a.leduc@prometic.com