Seals Agreement To Capture Share In Growing $1Billion Market

ProMetic Life Sciences (ProMetic) has entered into an agreement by ProMetic’s
UK subsidiary, ProMetic Biosciences (PBL), with a multinational company looking to capture
share in a growing $1billion market with a new and improved version of its already existing commercialised
product.

As per the new agreement, ProMetic will develop a Mimetic Ligand affinity
adsorbent for the new client as well as associated process conditions for the manufacturing
of the client’s next generation of its recombinant biopharmaceutical product.

The company said that the agreement will provide ProMetic with initial service revenues
of up to $1,350,000 CAD over the next year, commencing this month.

In addition,
ProMetic is expected to enter into a subsequent long-term agreement for supply of the Mimetic
Ligand adsorbent.

Cory Pigeon, commercial director for North America at PBL, said:
“The provision of custom development programs for Mimetic Ligand adsorbents represents r
egular business for ProMetic and provides our clients with clear advantages including higher
yielding and lower cost manufacturing processes as well as higher purity products.”

Steve Burton, CEO at PBL, said: “We are very encouraged that companies with existing
products and manufacturing processes are turning to ProMetic for the development of improved
processes
for their second generation products.”