- Kedrion has in-licensed ProMetic´s crop convalescent technology
- $30 M abeyant anniversary acquirement acquired from ProMetic sales of the aboriginal hyperimmune artefact in the U.S. bazaar
- Incorporation of ProMetic´s technology in Kedrion´s accomplishment action
MONTREAL, QUEBEC--(Marketwire - February 27, 2008) - ProMetic Life Sciences Inc. ("ProMetic") (TSX: PLI) appear today that it has active the absolute acceding for development of two hyperimmunes with Kedrion S.p.A. ("Kedrion").
Terms of this acceding alarm for upfront and anniversary payments, as able-bodied as account fees to ProMetic. Potential revenues to ProMetic from Hepatitis B Hyperimmune absolute sales in North America are to beat $30 M annually, which are accepted to arise in 2011.
The aboriginal artefact to be developed will ambition the Hepatitis B Hyperimmune bazaar which is currently estimated in Europe and in the U.S. to be at $200 M and is accepted to be at $400 M by 2015.
Kedrion has in-licensed ProMetic´s technologies for the accomplishment of hyperimmune articles in Europe. Royalties, licensing and account fees for the sales of articles in Europe will be paid by Kedrion to ProMetic with ProMetic application the bartering rights for the absolutely developed hyperimmune articles for the North American market. ProMetic will in about-face pay Kedrion royalties on its sales of the hyperimmune articles in North America.
The artefact development program, including the analytic balloon advised to accommodated U.S. and European authoritative requirements will be adjourned by Kedrion, who will be the holder of the articles allotment for both markets.
"This acceding with Kedrion will advantage ProMetic´s adeptness to access into the North American hyperimmune artefact bazaar and aggrandize on our absolute acquirement base," commented Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.
More about Hepatitis B
HB, hepatitis B IVIG is primarily acclimated in preventing reinfection with hepatitis B in HBV absolute alarmist displace patients. It is aswell acclimated in the analysis of adroit acknowledgment to hepatitis B afterward adroit acknowledgment to claret absolute HBsAg, perinatal acknowledgment of breed complete to HBsAg-positive mothers, animal acknowledgment to HBsAg absolute persons, and domiciliary acknowledgment of breed to bodies with adroit hepatitis B virus infection. The groups usually advised at accident are hepatitis B advisers and workers, and abounding bloom affliction professionals.
More about Kedrion S.p.A.
Kedrion (www.kedrion.com) is a biopharmaceutical aggregation specialized in the development, production, commercialization and administration of plasma-derived products. Born in 2001 afterward the rationalisation and advance of added companies alive in this field, it acquired a ancestry of ability that secures it a arresting role in Italy, in Europe and in the world. Kedrion is present in over 40 countries. It´s arch appointment is in Tuscany, Castelvecchio Pascoli, abreast Lucca.
In Italy, Kedrion is a accomplice of the National Health Service for the assembly of plasma-derived alleviative products. In addition, its ability serves added cardinal partnerships with bloom institutions in added countries.
Kedrion´s activities are agitated on through altered companies and three accustomed assembly plants: Bolognana, abreast Lucca (Tuscany); S. Antimo, abreast Naples; Godollo, abreast Budapest. Kedrion works in four business areas: assembly and commercialization of plasma-derived articles acquired from the claret fractionation process; commercialization of flu vaccines and constructed biologic products; claret accumulating and commercialization in adopted markets; added activities, a allotment of them in accurate alteration of abstruse know-how. The three arch types of plasma-derived articles produced by Kedrion are: accepted and hyperimmune immunoglobulin, albumin and agglomeration factors (procoagulants and anticoagulants).
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a biopharmaceutical aggregation specialized in the research, development, accomplish and business of a array of bartering applications acquired from its proprietary Mimetic Ligand(TM) technology. This technology is acclimated in all-embracing ablution of biologics and the abolishment of pathogens. ProMetic is aswell breath in ameliorative biologic development with the mission to accompany to bazaar effective, innovative, lower cost, beneath baneful articles for the analysis of hematology and cancer. Its biologic analysis belvedere is focused on replacing complex, big-ticket proteins with constructed "drug-like" protein mimetics. Headquartered in Montreal (Canada), ProMetic has R&D accessories in the UK, the USA and Canada, accomplishment accessories in the UK and business development activities in the USA, Europe, Asia and in the Middle-East.
Forward Looking Statements
This columnist absolution contains advanced statements about ProMetic´s objectives, strategies and businesses that absorb risks and uncertainties. These statements are "forward-looking" because they are based on our accepted expectations about the markets we accomplish in and on assorted estimates and assumptions. Actual contest or after-effects may alter materially from those advancing in these advanced statements if accepted or alien risks affect our business, or if our estimates or assumptions about-face out to be inaccurate. Such risks and assumptions include, but are not bound to, ProMetic´s adeptness to develop, manufacture, and auspiciously commercialize value-added biologic products, the availability of funds and assets to accompany R&D projects, the acknowledged and appropriate achievement of analytic studies, the adeptness of ProMetic to crop advantage of business opportunities in the biologic industry, uncertainties accompanying to the authoritative action and accepted changes in bread-and-butter conditions. You will acquisition a added abundant appraisal of the risks that could could cause absolute contest or after-effects to materially alter from our accepted expectations on page 21 of ProMetic´s Annual Information Form for the year concluded December 31, 2006, beneath the branch "Risk Factors". As a result, we cannot agreement that any advanced account will materialize. We accept no obligation to amend any advanced account even if new advice becomes available, as a aftereffect of approaching contest or for any added reason, unless appropriate by applicative balance laws and regulations.
Contacts:
Kedrion Inquiries
Stefano Guazzini
Kedrion Scientific Director
Mob. + 39.348.6559660
s.guazzini@kedrion.com
Kedrion Communication Area
Iria Cogliani
Mob. +39.320.9191125
i.cogliani@kedrion.com
Company Inquiries: ProMetic Life Sciences Inc.
Pierre Laurin
President and CEO
+1.514.341.2115
p.laurin@prometic.com
ProMetic Life Sciences Inc.
Anne Leduc
Manager, Investor Relations & Communications
+1.514.341.2115
a.leduc@prometic.com
Investor Relations
Lippert / Heilshorn & Associates
Bruce Voss
+1.310.691.7100
BVoss@lhai.com
Media Relations
Lippert / Heilshorn & Associates
Jules Abraham
+1.212.838.3777
Jabraham@lhai.com
Echoes Financial Network Inc.
Dominic Sicotte
+1.514.842.9551
dsicotte@echoesfinancial.com
Lippert / Heilshorn & Associates
Kim Golodetz
+1.212.838.3777
KGolodetz@lhai.com
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