- Purchase order triggers $1.0 million upfront payment
- More than $3.0 million of shipments expected during the first half of 2012
LAVAL, QUEBEC, CANADA - January 26, 2012 - ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic"or the "Company") announced today that it has received a $2.5 million purchase order under its ongoing supply agreement with Octapharma, a leading, Swiss based, independent global plasma fractionation company that specializes in human proteins. This purchase order further confirms the binding forecast received from Octapharma and is in addition to the
.73 million order announced in October 2011. More than $3.0 million of shipments to Octapharma are expected during the first half of 2012.
This order relates to the purchase of PrioClearTM, a proprietary prion capture resin incorporated into Octapharma's manufacturing process for its solvent/detergent treated plasma product, Octaplas®LG. Octaplas®LG is currently approved for marketing in several European countries and the object of ongoing procedures for its regulatory approval for the North American market. Further binding forecast of the same magnitude for the second half of 2012 is expected at a later time during the first half of 2012.
"We are happy to see Octapharma starting to convert its binding forecasts into formal purchase orders early in 2012. We anticipate seeing the demand for our products and technologies continue to increase as a result of the growing industry's needs for safer and differentiating plasma derived products" said Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc.