- First purchase order relating to July 8, 2013 secured licensing and long term resin
- Purchase order confirms forecasted annual revenues arising from related custom resin
LAVAL, QUEBEC, CANADA, – November 19, 2013 – ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF), ("ProMetic" or the "Corporation") announced today that it has received a $5.1 million purchase order for the supply of affinity resin from an existing client, a global leader in the biotherapeutics industry.
This order represents the first purchase order issued resulting from the licence and long-term supply
agreement previously announced on July 8th 2013. The affinity resin will be manufactured by ProMetic at its Isle of Man production facility and supplied to the client throughout 2014 and early 2015. ProMetic's client will use the resin for large-scale purification of a therapeutic protein product and it is anticipated further orders will be received once the current order is completed.
"This order for affinity resin provides confirmation of the rapidly growing demand for this particular product and is completely in-alignment with ProMetic's expectations" said Dr. Steve Burton, Chief Executive Officer of ProMetic BioSciences Ltd. "We are now seeing real and significant growth in demand for our affinity
purification products as our clients recognise the value that ProMetic's technology provides with respect to market advantage and reduction of process costs", added Dr. Burton.
Mr Pierre Laurin, President and CEO of ProMetic said "the company is now entering a period of significant growth. This order contributes nicely to the growing critical mass of our base case bioprocess technologies at a time when we are also closing in on our plasma-derived and small-molecule therapeutic objectives".
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (http://prometic.com/) is a long established biopharmaceutical company with globally recognized expertise in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule therapeutic products targeting unmet medical needs in the field of fibrosis, 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 and 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 26 of ProMetic's Annual Information Form for the year ended December 31, 2012, 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.