This $4.2 million purchase order relates to the purchase of a proprietary Mimetic Ligand^TM affinity adsorbent developed and manufactured by ProMetic's UK subsidiary, ProMetic Biosciences Ltd with deliveries of said order to take place in the second half of 2012.

Pierre Laurin, President and Chief Executive Officer of Prometic commented:  "We are very pleased our product's performance has met our client's expectations. This contributes to both our strong 2012 and long term continued growth."

The Supply Agreement includes customary provisions for the supply of a purification component used by ProMetic's client for the manufacture of a biopharmaceutical product undergoing manufacturing scale-up in anticipation of regulatory approval and market launch.

First Quarter 2012 Financial Results and Corporate Highlights Conference Call Information

ProMetic will host a conference call at 10:00am (EST) on Tuesday, May 15, 2012. The telephone numbers to access the conference call are (416) 981-9000 (International) and 1-800-757-7641 (Toll-free). A replay of the call will be available from May 15, 2012 until May 22, 2012. The numbers to access the replay are 1-416-626-4100 (#21591766) and 1-800-558-5253 (21591766). A live audio webcast of the conference call will be available through ProMetic's website.

About ProMetic Life Sciences Inc.           

ProMetic Life Sciences Inc. (http://www.prometic.com/) is a biopharmaceutical company specializing 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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

LAVAL, QUEBEC, CANADA - May 14, 2012 - ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic"or the "Corporation") today reported its financial results and highlights for the first quarter of 2012. All amounts are in Canadian dollars unless otherwise indicated.

"In the first four months of 2012, ProMetic has already secured business valued at more than three times the product sales and service revenue achieved in all of 2011. We expect to further increase this performance as the year progresses", stated Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer.              

First Quarter 2012 Highlights and Subsequent Events to Date

Corporate Highlights            

The Corporation confirmed that its secured business for 2012, which exceeds $21 million as of this date versus total 2011 record revenues of $17.6 million, consists of the following contracts and orders:

• - $7.5 million received and anticipated from multiple established clients for recurring product orders and ongoing development programs;
  
  
• - $5.9 million from Octapharma for product orders and forecast requirements;
  
  
• - $2.5 million from an existing client to proceed to the next stage of an ongoing development program.

• - $1.4 million agreement from a European biotechnology manufacturing company to develop an affinity resin product and its related manufacturing process.

• - $1.9 million follow-on product order from a US based biopharmaceutical company pursuant to an existing long-term supply agreement for the manufacturing of an established biopharmaceutical product; and

• - $2.0 million of upfront and milestone payments in 2012 from Hematech Biotherapeutics from $10 million orphan drug license and strategic manufacturing deal for the co-development and co-exclusive commercialization, on a world-wide basis (excluding China), of a plasma-derived biopharmaceutical product.

Financial Events

• - To date, the Corporation has received a total of $4.4 million in cash from a combination of upfront payments from clients' follow-on product orders, new agreements as well as from private equity investments secured from existing long term shareholders and new strategic investors.

First Quarter Financial Highlights

The financial information in regards to the three month period ended March 31, 2012 should be read in conjunction with the Company's financial statements as well as the Management's Discussion and Analysis dated May 14, 2012.

Total revenues for the first quarter of 2012, which were derived from product sales and development services, were $1.1 million compared with $0.9 million for the same quarter of 2011. Total revenue of $2.8 million in the first quarter 2011 included $1.9 million revenue from the 2011 licensing transaction with Celgene Corporation.

The Company generated a net loss of $4.7 million or $0.01 per share (basic and diluted), for the quarter ended March 31, 2012, as compared to a net loss of $2.7 million or $0.01 per share (basic and diluted) for the quarter ended March 31, 2011. 

"Our goal is to become self-funding and profitable as quickly as possible; clearly, our first quarter financial revenue results are not indicative of how strong this year will be in terms of revenue", said Mr. Bruce Pritchard, ProMetic's Chief Financial Officer. "Consequently, the Company has had to continue to raise funds using both debt and equity, in order to bridge the gap. This, in combination with upfront advances received from our clients. has been sufficient to offset our short-term liquidity requirements", added Mr. Pritchard.        

Outlook

The first few months of 2012 have allowed the Company to announce transactions that provide a solid foundation for a stronger revenue pipeline for 2012 and future years.  This, when coupled with the current opportunities in the pipeline, should result in a sustained positive progression of business revenues, income and a reduction in the need for bridge funding.

The Company's objectives for 2012 and beyond are to deliver the following achievements:

• - The broadening of its customer base, both in territory and type;
• - Revenue growth in existing product and service sales;
• - Improvement of liquidity and financial position;
• - Operational launch of ProMetic's NewCo in Laval, Quebec;
• - Improvement of all key financial indicators; and
• - Closing of new programs and strategic alliances.

First Quarter 2012 Conference Call Information

ProMetic will host a conference call at 10:00am (EST) on Tuesday, May 15, 2012. The telephone numbers to access the conference call are (416) 981-9000 (International) and 1-800-757-7641 (Toll-free). A replay of the call will be available from May 15, 2012 until May 22, 2012. The numbers to access the replay are 1-416-626-4100 (#21591766) and 1-800-558-5253 (21591766). A live audio webcast of the conference call will be available through ProMetic's website.

Additional Information in Respect to the Three month Period ended March 31, 2012

ProMetic's MD&A and 2012 First Quarter Financial Statements have been filed on Sedar (http://www.sedar.com/) and are available on the Company's website at www.prometic.com.

About ProMetic Life Sciences Inc.           
ProMetic Life Sciences Inc. ("ProMetic") (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 Laval (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 US, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

LAVAL, QUEBEC, CANADA AND LILLE, FRANCE - May 11, 2012 - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic or the "Corporation ") and Macopharma SA ("Macopharma") announced today the presentation of new and compelling data on P-Capt^® filter performance at the Prion 2012 Congress being held in Amsterdam, The Netherlands.

The lack of an established detection method for infectious prions (vCJD) in human blood means animal bioassays must be used to demonstrate the ability of the P-Capt^® filter to capture and remove endogenous blood-borne infectivity from leucoreduced red blood cell concentrate. The established 263k scrapie-adapted hamster model is widely used for such studies and the successful removal of endogenous prion infectivity from hamster blood was reported by ProMetic in 2006 [Lancet, Vol. 368, 2226-2230, 2006].  To eliminate any residual concerns regarding P-Capt^® filter efficacy and the applicability of the 263k hamster bioassay as a model of vCJD in human blood, a further study has been conducted in a cynomolgus macaque model.

The new study, undertaken by Macopharma and scientists from the CEA Prion Research Group (Fontenay-aux-Roses, France), comprised the collection of blood from cynomolgus macaques infected with BSE and the processing of the infected blood to provide leucoreduced red cell concentrate (L-RBC) using standard methods established for the processing of human blood. Leuco-reduced red cells were transfused into two healthy primates and L-RBC that had been subjected to P-Capt^® filtration was transfused into three healthy primates. Both animals in the L-RBC group exhibited symptoms of neurological disease after 30 months and died two months later whereas all three animals in the P-Capt^® filtered L-RBC group remained asymptomatic after 45 months.

According to Dr Chryslain Sumian, Research and Development Manager for Pathogen Safety at Macopharma, "this latest data proves beyond any doubt that the P-Capt^® filter is effective for reducing the risk of prion disease transmission by blood transfusion". "The cynomolgus macaque bioassay developed at the CEA is the most relevant model for human prion disease owing to the very close genetic make-up of primates and our data demonstrates the ability of the P-Capt^® filter to retain endogenous infectivity if present in primate blood" he added.

Dr Steve Burton (CEO of PLI's UK subsidiary ProMetic Biosciences Ltd) commented "not only does this study prove the effectiveness of the P-Capt^® filter, it also demonstrates the inability of leucofiltration alone to provide adequate protection against transmission of blood-borne prions". Dr Burton continued "As currently leucofiltration represents the primary measure implemented in the UK to reduce the risk of vCJD transmission by red cells, this new study graphically illustrates the need for an effective prion safety measure for RBC and we urge the UK Government to implement the P-Capt^® filter, as recommended by SaBTO in 2009, without further delay"

About variant Creutzfeldt-Jakob Disease

Variant Creutzfeldt-Jakob Disease ("vCJD") is characterized by the accumulation of large deposits of misfolded prion protein in the brain and the nervous system and the appearance of sponge-like holes in the brain causing a fatal degenerative CNS disorder. Such abnormal prion proteins may be sufficient to transmit the disease. Although some people's genetic make-up may protect them, at least 89% of the population may be susceptible to vCJD. vCJD was initially transmitted to humans from BSE infected cows presumably by the consumption of BSE contaminated meat, but a secondary route of transmission by the transfusion of blood units from asymptomatic vCJD individuals threatens to increase the prevalence of the fatal disease.

About P-Capt^®

P-Capt^® is a single-use sterile device which was awarded CE mark approval in September 2006. Red blood cells are passed through the filter under gravity and a highly specific affinity adsorbent material captures and removes any vCJD prion protein.

P-Capt^® is the only approved product proven to be effective for the removal of prion infectivity from red blood cell concentrate prior to transfusion. It has been evaluated extensively by the UK Blood Services (including the National Blood Service, the Northern Irish Blood Transfusion Service, the Welsh Blood Service, and the Scottish National Blood Transfusion Service), the Irish Blood Transfusion Service and the Health Protection Agency since production of the first batches in 2006 and to date has achieved all of the required performance and safety requirements and met all bench marks. The P-Capt^® filter incorporates the prion-specific affinity resin developed by PRDT and supplied by ProMetic to MacoPharma and it is manufactured under licence and distributed by MacoPharma. 

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ("ProMetic") (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 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, Asia and in the Middle-East.

About Macopharma SA

Macopharma SA ("Macopharma") (www.macopharma.com) is an innovator in global healthcare with expertise in the fields of transfusion and infusion. It has become the largest supplier of in-line leucoreduction filtration sets in Europe and is expanding its efforts into the cellular therapy 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 their products are sold into more than 70 countries worldwide.

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 27 of ProMetic's Annual Information Form for the year ended December 31, 2010, 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.  All amounts are in Canadian dollars unless stated otherwise.

LAVAL, QUEBEC, CANADA - May 9, 2012 - ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic"or the "Corporation") today reported highlights of its 2012 annual and special meeting of shareholders.

At least $21 million of base case income for 2012:

The Corporation indicated that it expected in 2012 in excess of $21 million of base case income in 2012 from product sales and service revenues; three times that of its total product sales and services revenues for 2011. This base case income includes:

• - $7.5 million worth of business so far from multiple clients / recurring orders and ongoing development programs;
  
  
• - $5.9 million of product shipments to Octapharma;
  
  
• - $2.5 million agreement with existing client to proceed to the next stage of an ongoing development program;
  
  
• - $1.4 million agreement with a European biotechnology manufacturing company to develop an affinity resin product and related manufacturing process;
• - $1.9 million follow-on purchase order pursuant to an existing long-term supply agreement entered into with a US based biopharmaceutical company; and
• - $2.0 million expected from Hematech .

Hematech $10 million orphan drug license and strategic manufacturing deal

ProMetic and Hematech Biotherapeutics Inc. ("HBI") closed a $10 million orphan drug license and strategic manufacturing deal under which:

• - The $10 million from HBI will fund the Orphan Drug's development program up to regulatory approval;
• - A $1 million upfront payment will be followed by $9 million staged payments to ProMetic related to defined development milestones;
• - $5 million of the development fees are expected over the course of the next 15 to 18 months;
• - Following the completion of clinical trials and regulatory approval, the Orphan Drug will be commercialized jointly by ProMetic and HBI on a global basis (excluding China), with both parties sharing profits equally;
• - HBI will fully fund the construction and operating costs of a new cGMP plant dedicated to manufacture plasma-derived therapeutics for ProMetic and its licensees; and
• - The Orphan Drug will be manufactured by ProMetic in its Laval facility and in HBI's planned facility in Taiwan.

2012 Corporate Objectives and First Quarter 2012 Guidance 

The Corporation closed since the beginning of the year a number of commercial and financial transactions that will provide a solid foundation for a stronger revenue pipeline in 2012 and beyond. 

The Company's objective is to deliver during 2012 and beyond, the following achievements:

• - The broadening of its customer base, both in territory and type;
• - Revenue growth in existing product and service sales;
• - Improvement of liquidity and financial position;
• - Operational launch of ProMetic NewCo in Laval, Quebec;
• - Improvement in all key financial indicators; and
• - New programs/strategic alliances development.

 "Our first quarter financial revenue results clearly do not reflect all the progress recently accomplished. Since our revenues do not accrue in a linear manner and due to the complex manufacturing environment we are involved in, it is not abnormal to still experience significant lead time between order receipt, product deliveries and revenue recognition.", said Mr. Bruce Pritchard, ProMetic's Chief Financial Officer. "Our 2012 product sales and service revenues will continue improving sequentially as the year progress".

We anticipate total revenues for the first quarter of 2012 to be approximately $1.0 million, predominantly coming from product sales and a modest contribution from development services while deferred revenues should reach approximately $2 million.

We anticipate the net loss to reach approximately $4.7 million or $0.01 per share (basic and diluted), for the quarter ended March 31, 2012, as compared to a net loss of $2.7 million or $0.01 per share (basic and diluted) for the quarter ended March 31, 2011.        

Cash management and private placements

Management believes that the difficult liquidity situation will continue to improve in the coming months and that its overall cash generating business prospects remain extremely attractive for the coming quarters. The Company will continue to closely control as much as possible its costs structure to reduce cash outflows.  

The Corporation secured private placements with each of Galloway Limited and Regent Mercantile Holdings Limited for a total amount of $1.0 million. As consideration, these investors collectively received a total of 9,090,908 shares in ProMetic's share capital at a share price of $0.11 and 3,636,363 warrants exercisable at a price of $0.18 over the next 2 years.

"Investments have been provided by long term shareholders and new strategic investors who believe in the fundamentals and the long term value of Prometic",  stated Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer.  "As the company delivers on its business plan and solidifies its recurring revenue base, it will become less dependent on the capital market", added Mr. Laurin.  

P-Capt^® Filter Update

In April, 2012, the Corporation announced the publication of the final results of the Prion-filtered vs. standard Red cells in Surgical and Multi-transfused patients ("PRISM") study by the UK Advisory Board for the Safety of Blood Tissues and Organs ("SaBTO"). These results indicate that the use of P-Capt® filtered red cells does not reduce the overall safety of transfusion. The PRISM study results are consistent with positive results from previous studies conducted.

New data was presented at the Prion 2012 conference in Amsterdam were summarized during the AGM and pertains to a cynomolgus macaque bioassay developed at the CEA in France.  This model is described as the most relevant model for human prion disease owing to the very close genetic make-up of primates.  In summary:

• Further study conducted in cynomolgus macaque model conducted by Macopharma and CEA Prion Research Group
• Compelling data presented at Prion 2012 conference in Amsterdam
• Animals in Leuco-reduced red cells ("L-RBC") had symptoms and died
• Animals in P-Capt® filtered L-RBC group remained asymptomatic after 45 months
• Demonstrate beyond any doubt P-Capt® filter efficacy
• Leuco filtration alone does not provide adequate protection

"We are proud to have already secured more than three times the base income equivalent of our 2011 product sales and services revenues after just four months into 2012. The closing of new deals and manufacturing agreements has led us to be well positioned to exceed our financial objectives going forward", mentioned Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer.

Directors elected

The following directors were elected to ProMetic's Board of Directors at the Annual and Special Meeting of the Shareholders:

Mr. G.F. Kym Anthony

Mr. Robert Lacroix

Mr. Pierre Laurin

Ms Diane Liguori

Ms. Louise Ménard

Mr Paul Mesburis

Dr. John Moran

Ms Nancy Orr

Mr. Bruce Wendel

Mr Benjamin Wygodny

"I would also like to take this opportunity to thank Dr. Roger Perrault. Dr. Perrault has had multiple tenures on Prometic's Board of Directors and has decided to retire. On behalf of the Board, Management and the employees of ProMetic, I would like to thank Roger for his hard work and dedication to ProMetic over the years. His expertise in the plasma and blood related products field has been an essential asset for all of us. We wish Roger all the best in this new Chapter in his life", said Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer. "We also wish to sincerely thank all of our dedicated employees and collaborators for their hard work and cooperation, our Board of Directors for the valuable guidance provided as well as all our shareholders for their ongoing support and loyalty as we keep building a stronger Company", added Mr. Laurin

About ProMetic Life Sciences Inc.           
ProMetic Life Sciences Inc. ("ProMetic") (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 Laval (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 US, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

• Hematech to pay ProMetic $10M for the orphan drug development program with $1M upfront

• Orphan drug to be manufactured in ProMetic's Laval facility

• Hematech to build and operate a facility in Taiwan to manufacture plasma-derived biopharmaceuticals implementing ProMetic's Plasma Protein Purification System ("PPPS^TM")

LAVAL, QUEBEC, CANADA AND TAIPEI, TAIWAN- May 07, 2012 - ProMetic Life Sciences Inc. (TSX:PLI) ("ProMetic" or the "Corporation") and Hematech Biotherapeutics Inc. ("HBI")  announced today the signature of definitive agreements for the co-development and co-exclusive commercialization, on a world-wide basis (excluding China), of a plasma-derived biopharmaceutical product targeting a rare medical condition ("Orphan Drug"). The deal includes the granting of manufacturing rights by ProMetic to HBI of plasma-derived biopharmaceuticals using ProMetic's proprietary PPPS^TM.  

The $10 million from HBI will fund the Orphan Drug's development program up to regulatory approval; a $1 million upfront payment followed by $9 million staged payments to ProMetic related to defined development milestones. $5 million of the development fees are expected over the course of the next 15 to 18 months leading to the filing of an IND in the second half of 2013. Following the completion of clinical trials and regulatory approval, the Orphan Drug will be commercialized jointly by ProMetic and HBI on a global basis (excluding China), with both parties sharing profits equally.  The Orphan Drug will be manufactured by ProMetic in its Laval facility and in HBI's planned facility in Taiwan.

The deal includes a strategic alliance providing HBI rights to ProMetic's proprietary PPPS^TM as well as training and technical support to manufacture plasma-derived biopharmaceuticals in a Taiwanese facility to be built and operated by HBI. Under this strategic alliance, HBI will fully fund the construction and operating costs of the new cGMP plant dedicated to manufacture plasma-derived therapeutics for ProMetic and its licensees.  The core cGMP manufacturing area of the facility in Taiwan will be based on the same design as ProMetic's own Laval facility.  Pursuant to this alliance, the two companies will synchronize the construction of this Taiwanese manufacturing facility along with the advancement of other plasma-derived therapeutics currently under development by ProMetic and its other licensees.

"This strategic relationship will provide Hematech and ProMetic with a valuable biopharmaceutical product with excellent market potential as well as a world class manufacturing facility implementing ProMetic's proven manufacturing platform," stated Dr Chan, M.D., Chairman of HBI.  "We are pleased to see our financial resources and extensive experience in the manufacturing of biopharmaceuticals contributing to leverage the strategic fit between our two companies. The competitive advantage provided by ProMetic's manufacturing platform will certainly create value for Hematech as it pursues its goal of marketing high-value, niche products targeting unmet medical needs", added Dr. Chan.

"We are privileged to have access to the wealth of experience brought on board by Dr Chan and his colleagues at Hematech. Under Dr Chan's leadership as Chairman, Adimmune Corporation in Taiwan successfully built the first commercial vaccine facility in Asia meeting European Medecines Agency ("EMA") standards", mentioned Dr Tom Chen, ProMetic's Senior Vice President Product and Asia/Pacific Development. "Both parties will mutually benefit from their respective extensive industry expertise", added Dr Chen.

"The combination of our sizeable investments to develop our manufacturing platform, our strategic decision to set up our own plasma manufacturing facility as well as the recent successful scale up of our process in China were all instrumental in securing this strategic partnership with HBI" mentioned Mr. Pierre Laurin, ProMetic's President and Chief Executing Officer. "This transaction capitalizes on our mutual synergies and common commercial visions", added Mr. Laurin. 

About Orphan Drug

An orphan drug is a pharmaceutical agent that has been developed specifically to treat a rare medical condition, the condition itself being referred to as an orphan disease. The assignment of orphan status to a disease and to any drugs developed to treat it is a matter of public policy in many countries, and has resulted in medical breakthroughs that may not have otherwise been achieved due to the economics of drug research and development. Orphan drugs generally follow the same regulatory development path as any other pharmaceutical product, in which testing focuses on pharmacokinetics and pharmacodynamics, dosing, stability, safety and efficacy. However, some statistical burdens are lessened in an effort to maintain development momentum.

About the Plasma Protein Purification System

The Plasma Protein Purification System (PPPS^TM) allows for the targeting and removal of multiple high-value proteins from a single plasma sample at unprecedented activity levels using ProMetic's Mimetic Ligand^TM adsorbent technology.  This system also provides for the recovery of new biotherapeutics as they are discovered and identified. The effect of this process is to reduce the significant losses incurred when using the more conventional Cohn precipitation process.

About Hematech Botherapeutics Inc.

Hematech Biotherapeutics Inc. is a privately held biotechnology company with headquarters located in Taipei, Taiwan.  Hematech Biotherapeutics Inc. is extensively involved in the sponsorship, development and production of therapeutic drug particularly in the area of hematology.  Hematech Biotherapeutics Inc. maintains an extensive collaborative network with industrial partners and is committed to the development of safe, high-quality, and low cost therapeutics drug. Major shareholders of Hematech Biotherapeutics Inc. include a key supplier of vaccines and a medical service and logistics company in Taiwan.  Both companies are publicly listed in Taiwan.

About ProMetic Life Sciences Inc.           

ProMetic Life Sciences Inc. (http://www.prometic.com/) is a biopharmaceutical company specializing 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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

The final conclusions of the study were that following administration of P-Capt® filtered red cells to patients:

●          None of the antibodies found in study patients were attributable to use of the filter;

●          There was no significant difference in the number of definite and probable adverse events in patients receiving P-Capt® filtered red cells and controls patients who received standard red cells;

●          The use of the P-Capt® filter does not reduce the overall safety of transfusion (i.e. the filter is safe to use);

●          If implemented, the use of P-Capt® filters would require post-marketing surveillance to assess continued safety in large populations of transfused patients.

"We are greatly encouraged by the completion of this clinical evaluation on patients," stated Mr. Ronald De Lagrange, President and CEO of MacoPharma. "The results demonstrate that not only is the product effective in reducing the risk of transmission of variant Creutzfeldt-Jakob disease ("vCJD") by blood transfusion, there is also no impact of the treatment on red cell quality."

In 2009 SaBTO noted that it was "satisfied that there is now sufficient evidence that this particular filter reduces infectivity" and it recommended "that filtered red cells be provided to those born since 1^st January 1996, subject to satisfactory completion of the PRISM clinical trial".  The SaBTO committee also noted that "if implemented, the continuing requirement for prion filtration should be reviewed in the event that further data on prevalence or efficacy of the filters becomes available".

However, SaBTO decided to "put on-hold its 2009 recommendation and requested further specific information to allow a decision on the recommendation to be made when this is available". The further information requested includes data from prion infectivity studies in hamsters conducted by the Health Protection Agency ("HPA") on behalf of the UK Blood Services, infectivity studies in sheep conducted at the Roslin Institute and the final results of the current IHC human appendix prevalence study (due in autumn 2012). The HPA hamster infectivity study is similar in its objectives to a study already performed and reported by ProMetic/PRDT in the Lancet; sheep infectivity models have not been proven to be good models for vCJD in human blood nor have sheep prions been proven to bind to the P-Capt® filter with the same avidity as human prions. Therefore, the reason for delaying a decision on P-Capt® adoption until data from these new investigations is available is unclear.

Dr Steve Burton, CEO of ProMetic's UK subsidiary, ProMetic Biosciences Ltd stated, "We are of course very pleased that the long-awaited results of the PRISM study confirm the safety of the P-Capt® filter in use, however it is disappointing that this study took much longer to complete than was originally anticipated and that SaBTO have again deferred a final recommendation on P-Capt® implementation until later this year". "The PRISM study results are consistent with the positive results of a previous human volunteer study undertaken by Macopharma/ProMetic/PRDT and multiple patient studies undertaken by the Irish Blood Transfusion Service", noted Dr Burton.

Mr Pierre Laurin, President and CEO of ProMetic said "once again the safety of the P-Capt® filter has been demonstrated and in combination with multiple studies confirming the effectiveness of ProMetic's technology for capturing infectious prions from blood there is now a compelling case for the immediate implementation of the P-Capt® filter in the UK to protect the population against future cases of vCJD through transfusion of contaminated red cells". "ProMetic and Macopharma continue to add to the impressive body of data on P-Capt® filter's performance and we anticipate the publication of new data in the near future from an animal infectivity model much more relevant to humans compared to our previous studies and on-going investigations conducted on behalf of the UK Blood Services. We continue to liaise with NHS Blood and Transplant ("NHSBT") and members of the UK Government regarding the adoption of the P-Capt® filter as per SaBTO's recommendation in November 2009 and hope that the decision makers attach greater importance to protecting future generations from this fatal disease rather than the implementation costs" added Mr Laurin.

In the published minutes of its meeting of 9^th March 2012, SaBTO describes a revised model for predicting future cases of vCJD by red cell transfusion which is based on current assumptions of factors such as vCJD prevalence in the UK and the amount of infectivity in human blood but which also assumes all previous cases of vCJD transmitted by blood transfusion have been identified and not missed or misdiagnosed. As a consequence the new model assumes a very low amount of infectivity in human blood (1 infectious dose per unit of red cells pre-leucodepletion) in order to make the model fit the actual number of vCJD transfusion transmission cases reported. Even with these revised assumptions discounting the possible missed and or misdiagnosed cases, the new model indicates future vCJD transmission is very likely to occur and could therefore be prevented. The potential for miss-diagnosis of vCJD is a real possibility as the majority of cases to date have been individuals with the MM genotype with very few cases identified for persons with MV or VV genotype. It has been postulated that persons with different genotypes may show different symptoms and rather worryingly the total number of cases of all forms of CJD reported by the UK CJD Surveillance Unit have increased progressively over the last two decades with no apparent explanation.

A redacted analysis of the cost effectiveness of prion-filtration was posted by SaBTO on its website. This analysis considers children to benefit the most from the implementation of prion filtration with approximately 40 life years saved per clinical case. However the report notes the cost per life year saved for children "falls well above the threshold of £25,000" but that if prion filtration was implemented universally in the UK "the overall unit cost would reduce substantially" though all intervention scenarios considered in the report exceed the cost effectiveness threshold of £25,000 per Quality Adjusted Life Years ("QALY") gained.

About PRISM

The PRISM study was undertaken on behalf of the UK blood services (NHSBT) with the objective of independently assessing whether the administration of P-Capt® filtered red cells to patients causes the formation of antibodies which react specifically with prion filtered cells or increases pan-reactive antibodies which react with all red cells or increases the rate of alloimmunisation to clinically significant red cell antigens. Secondly, the PRISM study sought to establish whether the administration of P-Capt® filtered red cells to patients increases the rate of known transfusion reactions or caused a new type of transfusion reaction. The PRISM study commenced during 2007.

About variant Creutzfeldt-Jakob Disease

Variant Creutzfeldt-Jakob Disease ("vCJD") is characterized by the accumulation of large deposits of misfolded prion protein in the brain and the nervous system and the appearance of sponge-like holes in the brain causing a fatal degenerative CNS disorder. Such abnormal prion proteins may be sufficient to transmit the disease. Although some people's genetic make-up may protect them, at least 89% of the population may be susceptible to vCJD. vCJD was initially transmitted to humans from BSE infected cows presumably by the consumption of BSE contaminated meat, but a secondary route of transmission by the transfusion of blood units from asymptomatic vCJD individuals threatens to increase the prevalence of the fatal disease.

About P-Capt^®

P-Capt^® is a single-use sterile device which was awarded CE mark approval in September 2006. Red blood cells are passed through the filter under gravity and a highly specific affinity adsorbent material captures and removes any vCJD prion protein.

P-Capt^® is the only approved product proven to be effective for the removal of prion infectivity from red blood cell concentrate prior to transfusion. It has been evaluated extensively by the UK Blood Services (including the National Blood Service, the Northern Irish Blood Transfusion Service, the Welsh Blood Service, and the Scottish National Blood Transfusion Service), the Irish Blood Transfusion Service and the Health Protection Agency since production of the first batches in 2006 and to date has achieved all of the required performance and safety requirements and met all bench marks. The P-Capt^® filter incorporates the prion-specific affinity resin developed by PRDT and supplied by ProMetic to MacoPharma and it is manufactured under licence and distributed by MacoPharma. 

About Macopharma SA

Macopharma SA ("Macopharma") (www.macopharma.com) is an innovator in global healthcare with expertise in the fields of transfusion and infusion. It has become the largest supplier of in-line leucoreduction filtration sets in Europe and is expanding its efforts into the cellular therapy 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 their products are sold into more than 70 countries worldwide.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ("ProMetic") (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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.  All amounts are in Canadian dollars unless stated otherwise.

The private placements with 3188795 Canada Inc. and LCDV were executed to partially settle debt stemming from secured loans granted to the Corporation by 3188795 Canada Inc. and LCDV. Mr Wygodny has personally further invested $125,000 for additional equity participation in ProMetic.  

As consideration for the above-mentioned private placements, the Stakeholders will collectively receive a total of 2,906,225 shares in ProMetic's share capital at an approximate average share price of $0.125. Mr. Wygodny shall also receive 454,545 warrants exercisable at a price of $0.18 over the next 2 years with respect to his personal equity investment. The Toronto Stock Exchange has given conditional approval to this issuance of shares and granting of warrants.  

"We appreciate the Stakeholders' decision to convert ProMetic debt into equity and Mr. Wygodny further investing personally at this time as it clearly demonstrates confidence in ProMetic's ability to execute on its strategic initiatives and business plan", commented Pierre Laurin, President and Chief Executive Officer of Prometic.

In accordance with applicable securities legislation, the securities issued pursuant to the debt settlements and equity investment shall be subject to a four (4) month hold period commencing on this date.

About ProMetic Life Sciences Inc.           

ProMetic Life Sciences Inc. (http://www.prometic.com/) is a biopharmaceutical company specializing 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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

This $1.9 million purchase order relates to the supply of a proprietary affinity adsorbent developed and manufactured by ProMetic's UK subsidiary, ProMetic Biosciences Ltd with deliveries to be completed during 2012.

"We are pleased to have secured another order, strengthening our growing baseline business and providing solid progress towards our 2012 financial goals. With this order, we've secured $3.3 million of additional business in the last week alone. Each new follow-on order reinforces the recurring baseline revenue aspect of our business model and confirms ProMetic's superior product performance", commented Pierre Laurin, President and Chief Executive Officer of ProMetic.

The supply agreement includes customary provisions for the supply of a purification component used by ProMetic's client for the manufacture of biopharmaceutical products.

About ProMetic Life Sciences Inc.           

ProMetic Life Sciences Inc. (http://www.prometic.com/) is a biopharmaceutical company specializing 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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.

Under this new agreement, ProMetic will develop an affinity resin product and its related manufacturing process. This will provide ProMetic's client, a leader in its field, with a biosimilar product thereby enhancing the client's ability to increase its share of a well-established and lucrative market.

The agreement provides ProMetic with initial service revenues of $1.4 million with work commencing immediately.  The work performed under this agreement is anticipated to lead to a long-term agreement for the manufacture and supply of the affinity resin for use in the client's scale-up and routine commercial production of the product.

"ProMetic's state-of-the-art technology allows us to custom design affinity products according to each client's specific needs, providing them with high-performance manufacturing processes, enhanced quality and lower cost biological products" said Dr. Steve Burton, PBL's Chief Executive Officer. "Furthermore, the application of our novel purification technology enables biosimilar manufacturers to avoid existing intellectual property developed and used for production of the original products and to generate new intellectual property around the new process which provides them with a competitive advantage" added Dr Burton.

"This is yet another new commercial agreement expected to contribute to our strong and growing revenue base for 2012 and beyond", mentioned Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic.  "We anticipate adding more clients and products to our roster over the coming weeks as we continue demonstrating the significant benefits of using our proven and enabling manufacturing platforms", added Mr. Laurin.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ("ProMetic") (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 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, 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 24 of ProMetic's Annual Information Form for the year ended December 31, 2011, 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.  All amounts are in Canadian dollars unless stated otherwise.

LAVAL, QUEBEC, CANADA - March 26, 2012 - ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic"or the "Company") announced record revenues of $8.4 million and a net profit of $3.4 million for the fourth quarter ended December 31, 2011.  For the fiscal year ended December 31, 2011, ProMetic reported revenues of $17.6 million, representing an increase of 54% over the prior year. 

"2011 was a pivotal year for ProMetic as we achieved record revenues and laid the foundation for sustainable growth" said Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer. "We secured licensing revenues from Celgene Corporation ("Celgene") which compensated for lower products sales and service revenues due to Octapharma AG's regulatory delays and Celgene's acquisition of Abraxis BioScience. We expect continued revenue growth in 2012 and beyond from licensing our proven manufacturing technologies and stronger product sales / service revenues as confirmed by recent announcements. Licensing and royalty revenues will continue to be part of future revenues, along with a growing customer base for our proprietary affinity resin".

"Delays with client's development programs continued to impact the first half of 2011. However, the second part of the year saw stronger product sales. We delivered our best ever annual financial performance in terms of revenues and net loss in 2011.  We expect our liquidity situation to continue to improve going forward as we start monetizing our 2012 order backlog", said Mr. Bruce Pritchard, ProMetic's Chief Financial Officer. "We intend to continue to monitor our cost structure and expect 2012 to be a much stronger year".

The table below illustrates the Company's revenues and EBITDA* progression over the past six years:

* EBITDA is a non-GAAP measure, employed by the company to monitor its performance. Therefore it is unlikely to be comparable to similar measures presented by other companies.  The company calculates its EBITDA by subtracting from Revenues, its Cost of Goods Sold, its Research and Development Expenses Rechargeable and Non-Rechargeable as well as its Administration and Marketing Expenses and excluding amortization of capital assets and licenses and patents

2011 Corporate and Financing Highlights   

In 2011, ProMetic extended the repayment of its secured debt, which is now repayable in July 2013.  This removes short-term pressure on cash flow and shall allow the Company to repay the debt with cash generated from its growing commercial activities.  It also highlights that the interests of the secured lenders who also own a significant number of shares in ProMetic are aligned with all the shareholders of the Company.

On February 7, 2011, ProMetic established a new subsidiary, NewCo, to operate a pilot manufacturing plant which will allow ProMetic to commercialize products using its PPPSTM technology for the multi-million dollar plasma-derived therapeutics market. The facility was leased on very favourable terms and has a targeted processing capacity of 150,000 liters of plasma annually. In February, the Company received an initial $1.5 million investment in NewCo which was later in the year converted into a 13% equity stake in NewCo.  ProMetic's headquarters were also relocated to NewCo's facility in March.

On March 31, 2011, ProMetic entered into a licensing agreement with Abraxis BioScience, a wholly owned subsidiary of Celgene, which generated US$10 million of revenue for ProMetic.  ProMetic assigned and licensed certain intellectual property rights regarding a protein technology to Celgene for a specific field of use. As consideration for the assignment of the intellectual property rights, the US $10.0 million loan entered into with Abraxis in February 2010 was forgiven. 

On May 18, 2011, ProMetic announced that Wuhan Institute of Biologic Products ("WIBP") and its parent company, China National Biotech Group ("CNBG"), agreed to further expand and strengthen their partnership with ProMetic. This announcement followed a series of successful milestone achievements and close cooperation between the parties in recent years. On November 30, 2011 the Company announced the successful completion of the first set of milestones associated with the scaling up of the plasma protein purification system (PPPS^TM) manufacturing platform in CNBG's Wuhan facility.

On May 27, 2011, ProMetic announced the signing of an agreement with a multinational company to enhance the quality of an existing biopharmaceutical product manufactured. The successful achievement of milestones lead to the signing in February 2012 of a follow-on development phase amounting to $2.5 million in service revenues to be completed in 2012.

On July 7, 2011, ProMetic received a $4 million follow-on purchase order of a proprietary Mimetic^TM Ligand affinity adsorbent pursuant to a long-term supply agreement originally entered into with a major global pharmaceutical company in 2009. This order was completed in the second half of 2011.

On September 22, 2011, ProMetic announced a first order from a leading Chinese biopharmaceutical company for a large scale biomanufacturing process, in line with ProMetic's objective of continuing to expand its reach in Asia. This initial order is related to the purchase of a proprietary Mimetic^TM Ligand affinity adsorbent for the manufacturing scale-up of a biosimilar product in China. The Company will commence deliveries in early 2012.

On September 27, 2011, ProMetic announced that it had been selected to make four presentations at ASN's (American Society of Nephrology) Kidney Week conference demonstrating the ability of its orally active lead compounds PBI-4050 and PBI-4419 to significantly reduce fibrosis in kidneys in both acute and chronic settings.  The results presented during this conference represent some of the new data generated throughout 2011 with our lead drug candidates.

On October 12, 2011, ProMetic announced the resumption of prion capture resin (PrioClear®) supply to Octapharma AG ("Octapharma") through the reception of a first $0.73 million follow-on purchase order under its existing license and supply agreement with Octapharma. This was followed on October 26, 2011, by the receipt of a binding forecast from Octapharma for more than $2 million of PrioClear® in the first half of 2012. On November 23, 2011, Octapharma confirmed the regulatory approval of Octaplas®LG for additional European Union countries. ProMetic's PrioClear® resin is embedded in Octapharma's new manufacturing process for its solvent/detergent treated, prion-reduced, plasma product, Octaplas®LG.       

2011 Financial Highlights

The financial information in regards to the twelve and three month period ended December 31, 2011 should be read in conjunction with the Company's financial statements as well as the Management's Discussion and Analysis dated March 26, 2011.

From a financial reporting perspective, 2011 has delivered the best annual financial performance in terms of revenues in the Company's history. Total revenues for the year ended December 31, 2011, were $17.6 million compared with $11.4 million for the year ended December 31, 2010. The 2011 revenues were derived from product sales, development service revenues and licensing transactions. Total revenues for the fourth quarter of 2011 were $8.4 million compared to $1.1 million for the same 2010 period. This last quarter performance serves to remind readers again that the revenues of the business do not accrue in a straight line during the year.

The combined costs of goods sold and rechargeable research and development expenses for the year ended December 31, 2011, totalled $3.2 million compared to $5.1 million for the year ended December 31, 2010. This difference is explained by the difference in the revenue mix.  The combined costs of goods sold and rechargeable research and development expenses for the fourth quarter ended December 31, 2011, totalled $0.8 million compared to $1.0 million for the fourth quarter ended December 31, 2010.

The Company generated a net loss of $3.3 million or $0.01 per share (basic and diluted), for the year ended December 31, 2011, as compared to a net loss of $11.3 million or $0.03 per share (basic and diluted) for the year ended December 31, 2010. The Company generated a net profit of $3.4 million or $0.01 per share (basic and diluted), for the fourth quarter ended December 31, 2011, as compared to a net loss of $4.3 million or $0.01 per share (basic and diluted) for the fourth quarter ended December 31, 2010.

Outlook

Management believes that despite the financial challenges in 2011, the Company has delivered on several fronts across its business divisions. Management believes that the Company is poised to continue to build its revenue and deliver on its strategic initiatives in all its business divisions in 2012.  The Company's 2012 objectives include:

• - The broadening of its customer base, both in territory and types of clients;
• - Continued development of programs and entering into strategic alliances
• - Revenue growth by increasing existing product and service sales
• - Improvement of liquidity and financial position
• - Operational launch of ProMetic's NewCo facility in Laval, Quebec
• - Further advance small molecule therapeutics' development programs
• - Close strategic deals for the small molecule therapeutics

Management also believes that its liquidity situation will continue to improve in the coming months and that its overall business prospects remain extremely attractive for the upcoming quarters.

In the Protein Technologies division, work will continue to embed the prion-safety technology into NewCo's manufacturing processes. 

The Company will continue to assist Macopharma, with the adoption of the P-Capt^® filter in the UK.  In line with SaBTO's recommendation, in November 2009, for adoption of the P-Capt® filter for children born after January 1, 1996, the Company is hopeful that sales may commence after the reporting of the PRISM clinical study results. In addition to seeking other industrial scale users for the technology, ProMetic will continue to support Octapharma in the adoption of OctaplasLG® for the US market following the recent submission of its Biological License Application.

Also, in the Proteins Technologies (Plasma) division, the Company will set up its cGMP pilot manufacturing plant and the organization of its related capital structure with a view to commencing operations therein.  This plant, together with the results arising from activities in China with CNBG is expected to be used by the Company to leverage its other commercial-scale manufacturing opportunities relating to the PPPS^TM technology.   

The Therapeutics division will remain focused on business development activities. Partnering discussions continue with respect to PBI-1402, its NCE analogues PBI-4050 and PBI-4419 and other proprietary compounds. It is Management's goal to close a strategic deal with a major pharmaceutical company and secure funding to further advance its various development programs.

Finally, and in line with earlier commitments, Management will continue to monitor costs throughout the business, with a view to driving the Company towards being cash-flow positive and increasing profitability.

2011 Year End Results Conference Call Information

ProMetic will host a conference call at 10:00am (EST) on March 27, 2012. The telephone numbers to access the conference call are (416) 981-9000 (International) and 1-800-926-5197 (Toll-free). A live audio webcast of the conference call will be available through http://www.gowebcasting.com/3238

Additional Information in Respect of the Twelve & Three month Period ended December 31, 2011

ProMetic's MD&A and fiscal 2011 Financial Statements have been filed on Sedar (http://www.sedar.com/).

About ProMetic Life Sciences Inc.           
ProMetic Life Sciences Inc. ("ProMetic") (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 Laval (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 US, 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 27 of ProMetic's Annual Information Form for the year ended December 31, 2010, 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.

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