News & Events

Dear Shareholder:

On September 4, 2008 we announced an agreement with Abraxis BioScience, Inc. for the development of four biopharmaceutical products.  Simultaneous to this agreement ProMetic was provided by Abraxis with an immediate cash influx totaling $7MUS in lieu with the strategic investment closed by the parties on the same date.  The unexpected turn of events in the marketplace that coincided with our announcement of the Abraxis deal has overshadowed this important achievement and absorbed any positive momentum which our share price possessed.

We are reiterating that, with the cash on hand and the continuously growing revenue stream derived from our Protein Technologies Division in combination with a refocused resources allocation, we do not anticipate the need to go to the market for additional financing in the foreseeable future.

ProMetic is presently reinforcing its communication plan with its shareholders and the investment community at large by prioritizing responses to its shareholders through future updates on our "FAQ" and "Information of Interest" pages found on our web site.  We are additionally working on preparing a corporate update to shareholders that should be issued in the near future.

As President and Chief Executive Officer of your Company, I feel compelled to provide you with the reassurance that we at ProMetic are confident in our ability to weather these challenging market conditions and will continue to keep you informed of our activities. 

I would like to thank all shareholders for their continued support in ProMetic given the challenges posed by this uncertain market.

Sincerely,

Pierre Laurin
President and Chief Executive Officer
ProMetic Life Sciences Inc.

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 21 of ProMetic's Annual Information Form for the year ended December 31, 2007, 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.