December 20, 2012 09:54 ET LAVAL, QUEBEC--(Marketwire - Dec. 20, 2012) - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic" or the "Corporation") today announced that it is developing a second plasma derived biopharmaceutical for NantPharma. This development program emanates from ProMetic's Plasma Protein Purification System ("PPPS™") and Prion Reduction Technology. ProMetic is responsible for the development and manufacturing services, including the production in its Laval, Quebec facility of cGMP bulk active product to enable the IND filing and provide product required for bioequivalence trials. Upon FDA approval, ProMetic will exclusively manufacture and supply the commercial requirements of the cGMP bulk active to NantPharma, who will be responsible for completing the final sterile manufacturing steps. Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc, commented: "We are pleased to be adding a second plasma derived product to be developed in partnership with NantPharma. The financial contribution toward product development programs in 2013 from Hematech Biotherapeutic Inc and NantPharma is expected to exceed $10 million and our facility's operational launch scheduled for the second half of 2013 is one of our top corporate priorities for 2013". This second plasma derived biopharmaceutical development program follows the previously disclosed formation by NantPharma and ProMetic of a biopharmaceutical company, NantPro BioSciences, LLC, whose primary mission is to develop and commercialize a plasma-derived biopharmaceutical product for the US market.
About NantPharma LLC NantPharma is a NantWorks company whose products include high quality, biologically derived pharmaceuticals. NantPharma operates a number of drug manufacturing and research facilities throughout the US. NantWorks recently announced a $125 million investment by leading investment firm Blackstone in NantPharma. For more information, see www.nantworks.com
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.
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