LAVAL, QUEBEC--(Marketwired - April 30, 2013) - ProMetic Life Sciences Inc. (TSX:PLI) (OTCQX:PFSCF) ("ProMetic" or the "Corporation") announced today the expansion of its existing strategic collaboration with Sartorius Stedim Biotech ("SSB") to include a contribution of equipment to ProMetic's plasma purification facility as well as an agreement for the co-commercialization of PPPS™ on a global basis.
Pursuant to the agreement, SSB will provide filtration equipment and other consumables to be integrated in ProMetic's plasma purification plant, which is set to be operational in the fourth quarter of 2013. SSB's strategic contribution represents a significant investment over the next 3 years as plasma derived products manufactured in the GMP facility undergo regulatory approval. The agreement also confirms SSB as a preferred supplier of filtration equipment and consumables for ProMetic's PPPS™ licensees. SSB filtration equipment and consumables will be offered as an integral part of ProMetic's offering of plasma purification turnkey processes.
Dr. Uwe Gottschalk, Vice-President of Marketing for Purification Technologies at SSB stated, "The successful scale-up of the PPPS™ technology represents a unique opportunity to provide the plasma purification industry with a novel turnkey process, which achieves significantly improved yields and purity, while using a smaller plant footprint compared with current industry practices. We are happy to contribute our globally recognized engineering and technical expertise to our expanded partnership. We believe this will facilitate and accelerate market penetration".
ProMetic and SSB have also agreed to expand their co-commercialization efforts of the PPPS™ technology to include respective technological and engineering solution transfers. The expanded global co-commercialization efforts are expected to result in the accelerated penetration of Asia and other emerging markets of a best-in-class, market-ready plasma purification turnkey process.
ProMetic's plasma purification facility created for the development and manufacturing of high-value plasma-derived therapeutics will become a technological showroom for the PPPS™ technology. In this showroom, ProMetic's existing and future clients and partners will experience in a GMP-controlled environment the significant technological benefits provided by the proprietary functional plasma purification process.
"We are excited about the opportunity to take our excellent working relationship with Sartorius Stedim to the next level. We believe that our highly complementary product and process offering, combined with SSB's additional technical and commercial support, will increase market recognition of the significant benefits provided by our proprietary technologies," stated Pierre Laurin, President and CEO of ProMetic.
About Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading provider of cutting-edge equipment and services for the development, quality assurance and production processes of the biopharmaceutical industry. Its integrated solutions covering fermentation, cell cultivation, filtration, purification, fluid management and lab technologies are supporting the biopharmaceutical industry around the world to develop and produce drugs safely, timely and economically. Sartorius Stedim Biotech focuses on single-use technologies and value-added services to meet the rapidly changing technology requirements of the industry it serves. Strongly rooted in the scientific community and closely allied with customers and technology partners, the company is dedicated to its philosophy of "turning science into solutions."
Headquartered in Aubagne, France, Sartorius Stedim Biotech is listed on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and a global network of sales companies, Sartorius Stedim Biotech enjoys a worldwide presence. Its key manufacturing and R&D site is in Germany. The company employs approx. 3,000 people, and in 2012 earned sales revenue of 544.0 million euros.
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. ( www.prometic.com ) is a global biopharmaceutical company specializing in the design of small molecules that mimic unique and specific interactions between proteins, 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, drug development, proteomics and the elimination of pathogens. ProMetic is also active in developing its own novel therapeutic products targeting unmet medical needs in the field of fibrosis, anemia, neutropenia, 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, 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.
