ProMetic Life Sciences Inc. Announces US$1.7 Million Agreement With European Plasma Fractionator to Develop Plasma Prion Removal Process

MONTREAL and CAMBRIDGE, ENGLAND--(MARKET WIRE)--Jul 3, 2007 -- ProMetic Life Sciences Inc. (Toronto:PLI.TO - News) (ProMetic) announces that its U.K.-based subsidiary, ProMetic BioSciences Ltd (PBL), has signed a development contract with a prominent European plasma fractionator worth US$1.7 million to PBL over the next 12 months. The program will utilize proprietary prion-binding ligands developed by Pathogen Removal and Diagnostic Technologies Inc. (PRDT), a joint venture between ProMetic and the American Red Cross, to minimize the risk of transmission by plasma-derived products of Variant Creutzfeldt-Jakob Disease (vCJD), the human form of "mad cow disease."

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