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Press release from Marketwire

ProMetic Sponsoring and Presenting at Prion 2011 in Montreal

Tuesday, May 17, 2011

ProMetic Sponsoring and Presenting at Prion 2011 in Montreal07:00 EDT Tuesday, May 17, 2011MONTREAL, QUEBEC--(Marketwire - May 17, 2011) -ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic") today announced that it is sponsoring and will be presenting at the Prion 2011 conference in Montreal. The Conference that runs from May 16 - 19 is being held outside of Europe for the first time. "We are proud to participate in such a prestigious international convention" commented Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic. "ProMetic is known and recognized as a worldwide leader in the field of prion reduction with tangible commercial solutions validated to reduce the risk of prion infection and related diseases. The Conference taking place here is even more significant given that our new production plant in Laval will be North America's first commercial-scale plasma facility to implement our prion capture technology".Prion reduction remains core to ProMetic's corporate development strategy: Through its subsidiary Pathogen Reduction and Diagnostic Technologies Inc. ("PRDT"), ProMetic has successfully developed and commercialized prion capture technologies to improve the safety profile of blood and blood-derived products. P-Capt® filter is a single-use sterile device which is CE mark approved and is the world's only approved product proven to be effective for the removal of prion infectivity from red blood cell concentrate prior to transfusion. The P-Capt® filter incorporates the prion-specific affinity resin which was developed by PRDT and is supplied by ProMetic to MacoPharma, is manufactured and distributed by MacoPharma, under a P-Capt® filter license agreement from ProMetic. OctaplasLG® is the only commercially available prion-reduced plasma for transfusion manufactured by Octapharma and relying on PRDT's prion capture technology used at industrial scale. This industrial application of the prion capture technology is also being expanded for use in another new product from Octapharma, UniplasLG®. OctaplasLG® has been approved for commercial use in 4 countries. Prion capture at industrial scale will be implemented in ProMetic's NewCo plasma protein manufacturing facility in Laval, Quebec. ProMetic's current and future clients will benefit from the competitive advantage of combining an improved safety profile provided by Prometic's proven prion capture technologies and improved production yield enabled by its proven Plasma Protein Purification System ("PPPS™"). About Prion 2011Prion diseases know no borders, and this congress represents the one annual event to bring together experts from around the world to discuss a broad spectrum of topics, from surveillance and control, to prion structure and function, to diagnostics and therapeutics, ultimately with the goal to enhance the pace of prion research to mitigate the negative impacts of prion disease on society. This meeting will also cover the new connections between prion diseases and other human misfolding protein diseases such as Alzheimer's, Parkinson's and others. Prion-like propagation of protein misfolding will be one of four special themes of the meeting. For more information, please visit http://www.prion2011.ca/home.aspx.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™ 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 Montréal (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 US, 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 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, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless stated otherwise.FOR FURTHER INFORMATION PLEASE CONTACT: President and CEOPierre LaurinProMetic Life Sciences Inc.p.laurin@prometic.com1.450-781-0115ORDirector, Communications and Investor RelationsFrederic DumaisProMetic Life Sciences Inc.f.dumais@prometic.com1.450-781-0115