Phase II Trial of ProMetic's PBI-1402 Shows Significantly Increased Red Blood Cell Count and Hemoglobin in Chemotherapy-Induced Anemia Patients

Trial Results Announced At American Society of Hematology 49th Annual Meeting MONTREAL, QUEBEC--(Marketwire - December 10, 2007) - ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic") announces that a Phase II trial of its investigational compound PBI-1402 induced a significant increase in red blood cell count and hemoglobin level in patients with chemotherapy-induced anemia ("CIA"). Additionally, no significant adverse events were observed. PBI-1402 is a novel, orally active low molecular weight synthetic compound with erythropoiesis-stimulating activity via a mechanism of action distinct from erythropoietin ("EPO"). These results were presented in a poster session today at the American Society of Hematology 49th Annual Meeting in Atlanta. "We are very encouraged by these results as they demonstrate that a non-EPO compound may provide significant activity for the treatment of anemia in CIA patients who have a limited number of treatment options," said Pierre Laurin, President and CEO of ProMetic. "We believe these data indicate the tremendous potential for our compound, and we look forward to continued clinical research with PBI-1402 in this patient population." In this open-label Phase II trial, the first two out of three cohorts of six patients each received PBI-1402 once daily at doses ranging from 44mg/kg to 66mg/kg. Results of these first 12 patients demonstrated that 83 percent of patients had a significant increase in red blood cell count from baseline (p equals 0.015), and 66 percent of patients had a significant increase in hemoglobin (p equals 0.038). For those who responded to treatment, the mean increase in hemoglobin level was 1.1g/dL from the baseline value of 9.8g/dL (p equals 0.0007). In non-responders, PBI-1402 stabilized red blood cell count and hemoglobin level. No patients required blood transfusion, and only one patient demonstrated hemoglobin content below 9g/dL (8.9g/dL). PBI-1402 was generally well tolerated. Only two patients reported side effects deemed related to PBI-1402. These were of low grade and mainly involved the gastrointestinal tract. About PBI-1402 PBI-1402 is an orally active compound being developed to treat different types of anemia, such as CIA, in which the current clinical trial has expanded to include an additional 12 patients receiving the lowest trial dose. ProMetic has recently extended its clinical program for PBI-1402 into the treatment of anemia in patients with myelodysplastic syndrome ("MDS"), a condition often referred to as "pre-leukemia". Clinical trials in patients with anemia associated to chronic kidney diseases are also scheduled to commence shortly. About ProMetic Life Sciences Inc. ProMetic Life Sciences Inc. ( 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) enabling 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 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 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. Contacts: Company Inquiries: ProMetic Life Sciences Inc. Pierre Laurin President and CEO 514-341-2115 ProMetic Life Sciences Inc. Anne Leduc Manager, Communications 514-341-2115 Echoes Financial Network Inc. Dominic Sicotte 514-842-9551 Investor Relations: Lippert / Heilshorn & Associates Bruce Voss 310-691-7100 Lippert / Heilshorn & Associates Kim Golodetz 212-838-3777 Media Relations: Lippert / Heilshorn & Associates Jules Abraham 212-838-3777