- Collaboration leads to major deals in Asia - Annual revenue to reach $60 M for ProMetic in product sales and royalties - Sartorius Stedim Biotech expects significant demand for its products and
AUBAGNE, France, GOETTINGEN, Germany and MONTREAL, Canada, March 18 /PRNewswire-FirstCall/ - Sartorius Stedim Biotech and ProMetic Life Sciences Inc. ("ProMetic") (TSX:PLI) announced today the second successful technology transfer deal resulting from their collaboration entered into in 2006. The collaboration positions Sartorius Stedim Biotech as the preferred supplier and technology provider of filtration equipment and consumables to plasma fractionators that have in-licensed ProMetic's proprietary manufacturing process.
ProMetic recently announced that they have signed a strategic alliance and license agreement with the Wuhan Institute of Biological Products ("WIBP"). Under the terms of this agreement, WIBP gains exclusive access to ProMetic's yield improving plasma protein process for the Chinese market. In addition ProMetic has announced agreements with the Taiwanese biotechnology company Blue-Blood Biotech Corporation ("Blue Blood") for the development and commercialization of human plasma-derived specialty immunoglobulin preparations for the treatment of several infectious diseases including Cytomegalovirus and Enterovirus. Under this agreement, ProMetic would also retain the rights to the hyperimmune products for the North American market.
"These agreements and our relationship with Sartorius Stedim Biotech contribute to our short term revenue growth and to making our Protein Technologies business EBITDA positive in 2008 and generating an EBITDA of $15 to $20 Million in 2009," stated Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic. "Collectively, these agreements have firmly established ProMetic's technology in Asia and provide an opportunity to generate an estimated $60 Million in annual product sales and royalties for ProMetic, with the first plasma-derived products expected to be commercialized in 2011 in Asia and in North America."
As filtration and fluid management technologies are an integral aspect to the purification of biological products, Sartorius expects significant sales from this collaboration. Due to its comprehensive portfolio of innovative technologies and services Sartorius is able to provide turn key solutions for the downstream processes of the licensees.
Dr. Uwe Gottschalk, Vice President of Purification Technologies at Sartorius Stedim Biotech, stated "This association allows us to combine ProMetic's proprietary technology and Sartorius' integrated technology portfolio to bypass current bioseparation limitations. In doing so, we generate increased yields for plasma-derived proteins and therefore enhance the profitability of the existing processes at our customers."
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. (http://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 UK, the USA and Canada, manufacturing facilities in the UK and business development activities in the USA, Europe, Asia and in the Middle-East.
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 on page 21 of ProMetic'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, unless required by applicable securities laws and regulations.
About Sartorius Stedim Biotech
Sartorius Stedim Biotech (http://www.sartorius-stedim.com) is a leading provider of cutting-edge equipment and services for the development, quality assurance and production processes of the biopharmaceutical industry. Its integrated solutions covering fermentation, filtration, purification, fluid management and lab technologies are supporting the biopharmaceutical industry around the world to develop and produce drugs safely, timely and economically. For next generation processes, Sartorius Stedim Biotech focuses on single-use technologies and added-value services to meet the rapidly changing technology requirements of the industry it serves. Strongly rooted in the scientific community and closely allied with customers and technology partners, the company is dedicated to its philosophy of "Turning science into solutions."
Headquartered in Aubagne, France, Sartorius Stedim Biotech is listed on the Eurolist of Euronext Paris. With its own manufacturing and sales companies in Europe, North America and Asia, Sartorius Stedim Biotech enjoys a worldwide presence. Its key manufacturing and R&D location is in Germany. The company employs over 2,300 people and earned in 2007 pro forma sales revenue of 375.9 million euros.
|SOURCE PROMETIC LIFE SCIENCES INC.|
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