MONTREAL, QUEBEC--(MARKET WIRE)--Jul 6, 2006 -- ProMetic Life Sciences Inc. (TSX:PLI.TO - News) (“ProMetic” or the “Company”), a leading biopharmaceutical company, today gives a business update to the financial community. ProMetic closed on June 6, 2006, a private placement for total proceeds of C$10.8 million with JPMorgan and Third Point LLC. The funds from the financing will be used for general corporate purposes, including the development of PBI-1402, ProMetic’s lead therapeutic, an orally active drug candidate for the treatment of anemia.
