LAVAL, QUEBEC--(Marketwired - May 28, 2015) - ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF) ("ProMetic" or the "Corporation") announced today that it has entered into an agreement for the acquisition of Emergent BioSolutions' ("Emergent") plasma collection center located in Winnipeg, Canada. The transaction is subject to customary closing conditions.
Emergent's plasma collection center is an FDA and Health Canada licensed plasma collection facility. The plasma collection center is conveniently located in close proximity to the existing Emergent Winnipeg based cGMP manufacturing facility, which was recently announced as providing ProMetic with up to 250,000 liters of annual plasma processing capacity. The plasma collection center will start operating under ProMetic's ownership upon granting of the regulatory licenses, in ProMetic's name, by the requisite regulatory authorities. All existing center employees will then transition to be employed by ProMetic.
"This acquisition allows us to begin the integration of key operational components, such as plasma collection capabilities, to our proprietary plasma-derived manufacturing platform," mentioned Mr. Pierre Laurin, President and CEO of ProMetic Life Sciences Inc. "The addition of our own plasma collection center is complementary to our expanding network of US based plasma suppliers," added Mr. Laurin.
Commenting on the agreement, Mr. Bruce Pritchard, ProMetic's Chief Operating Officer and Chief Financial Officer mentioned: "The acquisition of Emergent's plasma collection center will provide us with valid regulatory approved processes and established standard operating procedures as well as qualified and experienced employees. Commenting further, he added, "We intend to use this facility as the blueprint for the opening of additional plasma collection centers, as part of our strategy of integrating and de-risking our supply chain."
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (www.prometic.com) is a long established biopharmaceutical company with globally recognized expertise in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule therapeutic products targeting unmet medical needs in the field of fibrosis, cancer and autoimmune diseases/inflammation. A number of both the plasma-derived and small molecule products are under development for orphan drug indications. 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 and Asia.
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, ProMetic'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 ProMetic 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 in ProMetic's Annual Information Form for the year ended December 31, 2014, under the heading "Risk and Uncertainties related to ProMetic's business". 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, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless indicated otherwise.