LAVAL, QC, April 7, 2017 /PRNewswire/ - Prometic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("Prometic" or the "Corporation") announced today that it has received a $9.5 million purchase order for the supply of affinity resin to an existing client, a global leader in the biopharmaceutical industry.
This purchase order is part of an ongoing license and long-term supply agreement already secured with the client. The affinity resin will be manufactured by Prometic at its Isle of Man facility and supplied to the client starting in the second half of 2017 and continuing throughout 2018. Prometic's client is using the resin for large-scale purification of a therapeutic protein product manufactured in large quantities.
Commenting on this latest purchase order, Mr. Pierre Laurin, President and Chief Executive officer of Prometic said: "As much as we place great importance on our internal proprietary bioseparation capabilities to develop, manufacture and commercialize our own impressive portfolio of high value plasma-derived therapeutics, we also continue to work hard to grow our revenues from third party customers".
"This latest PO is evidence of the strength of our corporate relationships", said Dr. Steve Burton, Prometic Bioseparations' Chief Executive Officer. "We expect our 2017 bioseparation revenues to be slightly ahead of 2016 and then to nearly double in 2018".
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, anemia, neutropenia, cancer and autoimmune diseases/inflammation as well as certain nephropathies. Headquartered in Laval (Canada), Prometic has R&D facilities in the UK, the U.S. and Canada, manufacturing facilities in the UK and commercial activities in the U.S., Canada, Europe, Russia, Asia and Australia.
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, 2016, 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.
SOURCE ProMetic Life Sciences Inc.