"Key milestones were achieved in January, a prelude to the announcedgrowth for 2008 and beyond," stated Pierre Laurin, ProMetic's President andChief Executive Officer. "With our Protein Technologies Business expected tobe EBITDA positive this year, and to generate an EBITDA in excess of $15 M in2009, as well as a partnering of PBI-1402 in 2008, we clearly are on track todeliver value to our shareholders," added Mr. Laurin.
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A more comprehensive update for PBI-1402 will be provided shortly as theCompany is pursuing its clinical development and as partnership discussionsare accelerating.
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About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a biopharmaceuticalcompany specialized in the research, development, manufacture and marketing ofa variety of commercial applications derived from its proprietary MimeticLigand(TM) technology. This technology is used in large-scale purification ofbiologics and the elimination of pathogens. ProMetic is also active intherapeutic drug development with the mission to bring to market effective,innovative, lower cost, less toxic products for the treatment of hematologyand cancer. Its drug discovery platform is focused on replacing complex,expensive proteins with synthetic "drug-like" protein mimetics. Headquarteredin Montreal (Canada), ProMetic has R&D facilities in the U.K., the U.S. andCanada, manufacturing facilities in the U.K. and business developmentactivities in the US, Europe, Asia and in the Middle-East.
Forward Looking Statements
This press release contains forward-looking statements about ProMetic'sobjectives, strategies and businesses that involve risks and uncertainties.These statements are "forward-looking" because they are based on our currentexpectations about the markets we operate in and on various estimates andassumptions. Actual events or results may differ materially from thoseanticipated in these forward-looking statements if known or unknown risksaffect our business, or if our estimates or assumptions turn out to beinaccurate. Such risks and assumptions include, but are not limited to,ProMetic's ability to develop, manufacture, and successfully commercializevalue-added pharmaceutical products, the availability of funds and resourcesto pursue R&D projects, the successful and timely completion of clinicalstudies, the ability of ProMetic to take advantage of business opportunitiesin the pharmaceutical industry, uncertainties related to the regulatoryprocess and general changes in economic conditions. You will find a moredetailed assessment of the risks that could cause actual events or results tomaterially differ from our current expectations on page 21 of ProMetic'sAnnual Information Form for the year ended December 31, 2006, under theheading "Risk Factors". As a result, we cannot guarantee that anyforward-looking statement will materialize. We assume no obligation to updateany forward-looking statement even if new information becomes available, as aresult of future events or for any other reason, unless required by applicablesecurities laws and regulations.- ProMetic to ship prion capture resin in Q1 2008 for incorporation into the P-Capt(R) filter. This is in response to MacoPharma's increased product requirements to meet the expected sales of the P-Capt(R) filter to Ireland and the UK in 2008. This favorably impacts ProMetic revenue as of the first half of 2008. - ProMetic confirmed the decision of a major European plasma fractionator to scale-up the prion removal process. This process ensures the removal of any abnormal prion proteins that may be present in donated plasma and will add another level of safety to the already established treatment protocol
