ProMetic, ProThera form strategic partnership to develop and commercialize Inter-alpha Inhibitor Proteins

Nov 19 2015

ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("ProMetic" or the "Corporation") announced today that it has entered into a strategic partnership with ProThera Biologics Inc. ("ProThera") for the development and commercialization of human plasma-derived Inter-alpha Inhibitor Proteins. The agreements provide ProMetic with global, exclusive intellectual property rights to commercialize products for two clinical indications and both companies have strategic interest in the other's IAIP-related therapeutic areas through a royalty- bearing cross-license agreement.

Under the terms of the deal, ProMetic and ProThera each will perform development services in order to advance IAIP to the clinic by 2017. ProMetic has received an initial 11.25 % equity stake in ProThera and such equity position to be increased to 22.5% following the achievement of an early-stage development milestone. Further, ProMetic will exclusively manufacture IAIP for clinical trial requirements and commercial sales for all indications.

"We are very pleased to be collaborating with ProThera on the development of IAIP. The combination of our proprietary PPPS^TM manufacturing platform and clinical development expertise with ProThera's world-class understanding of IAIP and unique intellectual property will contribute to the successful development and commercialization of this plasma-derived protein", commented Mr. Pierre Laurin, President and CEO of ProMetic. "We look forward to pursuing multiple unmet medical needs to be treated with IAIP by both ProMetic and ProThera"

Dr. Yow-Pin Lim, CEO of ProThera, commented: "Accessing ProMetic's proprietary manufacturing platform to produce high quality plasma-derived therapeutics and ProMetic's deep industry knowledge were key factors in our decision to partner our IAIP intellectual property and technological expertise. We look forward to ProMetic joining ProThera as an equity and strategic commercialization partner and believe this will accelerate the development of our mutual IAIP clinical programs".

"This partnership fits well with our corporate strategy of maximizing the revenue output from every liter of plasma processed under our proprietary platform as well as with our goal of becoming a major player in the development and marketing of niche, high-value orphan drugs", stated Mr. Bruce Pritchard, Chief Operating Officer of ProMetic.

SOURCE ProMetic Life Sciences Inc.