MacoPharma Contributed Expertise to Independent Public Inquiry on
Contaminated Blood And B
CAMBRIDGE, U.K. and LILLE, FRANCE -- (MARKET WIRE) -- 07/26/07 -- Pathogen Removal and Diagnostic Technologies Inc. ("PRDT"), a joint-venture between ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic") and The American Red Cross ("ARC"), along with MacoPharma, PRDT's co-development, commercial and manufacturing partner, announces that MacoPharma contributed to an Independent Public Inquiry on Contaminated Blood and Blood Products that was held in London, U.K., on July 25, 2007.
The purpose of the Independent Public Inquiry on Contaminated Blood and Blood Products as cited in The Rt Hon The Lord Archer of Sandwell QC's opening statement is, "To unravel the facts, so far as we are able, and to point to lessons that may be learnt. As in the case of any Public Inquiry the consequences of its report cannot be foreseen. Hopefully our findings may help to restore public confidence in the future treatment of patients. We trust it will also help those afflicted and bereaved to come to terms with the tragedy; knowing much more of how it came about." For more information refer to the Independent Public Inquiry on Contaminated Blood and Blood Products site www.archercbbp.com. Copy of the transcript is available at http://www.archercbbp.com/hearing.php.
MacoPharma, as an authority in the blood product and medical device field, has voluntarily come forward to offer its expertise on these matters to the panel of the Independent Public Inquiry on Contaminated blood and blood products. This is pursuant to PRDT and MacoPharma's efforts with the National Blood Transfusion Services of the U.K. and Ireland.
In 2004 PRDT formed a strategic alliance with MacoPharma. In May 2006 a licensing agreement was signed for the P-CAPT(R) filter, which is targeted initially at reduction of TSE pathogens from red blood cell concentrate, with a further co-development agreement signed between the parties in June 2006. It was further announced at the British Blood Transfusion Society Meeting in September 2006, that the P-Capt(R), had received European Regulatory Approval (CE mark).
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic Ligand(TM) 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 Montreal (Canada), ProMetic has R&D facilities in the U.K., the U.S. and Canada, manufacturing facilities in the U.K. and business development activities in the U.S., Europe, Asia and in the Middle-East.
About Pathogen Removal and Diagnostic Technologies Inc. (PRDT)
PRDT is a joint-venture company set up in April 2002 by The American Red Cross and ProMetic Life Sciences Inc. PRDT allows for a reciprocal exchange of technology and knowledge developed between the American Red Cross and ProMetic. PRDT's main goal is to develop products and devices to remove and detect different pathogens from biological sources. This research augments work that ProMetic, the American Red Cross and PRDT's scientific founders have been conducting independently for many years.
MacoPharma (www.macopharma.com) is an innovator in global healthcare with expertise in the fields of transfusion and infusion. The Company has become the largest supplier of in-line leucodepletion filtration sets in Europe and is expanding its efforts into the biotherapy field by developing products for cell expansion, in addition to cell/organ processing and freezing. Headquartered in the Lille metropolitan area (France), MacoPharma has three manufacturing facilities in Europe and its products are now sold into more than 55 countries worldwide. One of MacoPharma's aims is to provide a comprehensive range for the reduction of infectious agents in plasma, platelets and red cells. This is conducive with the MacoPharma product development strategy of the continuous quest, through partnerships, for improved safety, efficacy, and quality of transfusion, infusion and biotherapy.
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, the Company'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 the Company 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 21 of the Company's Annual Information Form for the year ended December 31, 2006, under the heading "Risk Factors". 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.
Contacts: ProMetic Life Sciences Inc. Pierre Laurin President and CEO +1-514-341-2115 email@example.com
ProMetic Life Sciences Inc. Anne Leduc Manager, Communications +1-514-341-2115 ext 234 firstname.lastname@example.org
Iwona Walicka Marketing Director +33-67-683-5621 email@example.com www.prometic.com