ProMetic Life Sciences Inc. (TSX: PLI) is pleased to update the financial community on its progress related to the corporate reorganization announced in November 2005 and to report on its financial results for the second quarter ended June 30(th), 2006. The Company is restructuring as a parent company with four pure-play operating units. Each distinct unit is pursuing a focused business plan and discrete funding funding such that investors will have the opportunity to take advantage of the specific risk/return profiles inherent in each operating unit.