The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

ProMetic Receives $2.5 Million Purchase Order From Octapharma

- Purchase order triggers $1.0 million upfront payment - More than $3.0 million of shipments expected during the first half of 2012

Thursday, January 26, 2012

ProMetic Receives $2.5 Million Purchase Order From Octapharma09:57 EST Thursday, January 26, 2012LAVAL, QUEBEC, CANADA--(Marketwire - Jan. 26, 2012) -ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic"or the "Company") announced today that it has received a $2.5 million purchase order under its ongoing supply agreement with Octapharma, a leading, Swiss based, independent global plasma fractionation company that specializes in human proteins. This purchase order further confirms the binding forecast received from Octapharma and is in addition to the $0.73 million order announced in October 2011. More than $3.0 million of shipments to Octapharma are expected during the first half of 2012.This order relates to the purchase of PrioClear™, a proprietary prion capture resin incorporated into Octapharma's manufacturing process for its solvent/detergent treated plasma product, Octaplas®LG. Octaplas®LG is currently approved for marketing in several European countries and the object of ongoing procedures for its regulatory approval for the North American market. Further binding forecast of the same magnitude for the second half of 2012 is expected at a later time during the first half of 2012. "We are happy to see Octapharma starting to convert its binding forecasts into formal purchase orders early in 2012. We anticipate seeing the demand for our products and technologies continue to increase as a result of the growing industry's needs for safer and differentiating plasma derived products" said Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc. About ProMetic Life Sciences Inc. ProMetic Life Sciences Inc. (www.prometic.com) is a biopharmaceutical company specializing 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. FOR FURTHER INFORMATION PLEASE CONTACT: President and CEOPierre LaurinProMetic Life Sciences Inc.p.laurin@prometic.com+1.450.781.0115ORDirector, Communications and Investor relationsFrederic DumaisPrometic Life Sciences Inc.f.dumais@prometic.com+1.450.781.0115