ProMetic Reports Its First Quarter 2014 Highlights and Financial Results

ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF) ("ProMetic" or the "Corporation")



--  Revenues of $5.7 million in Q1 2014 
    
    
--  IVIG clinical program and regulatory pathway confirmed in pre-IND
    meeting with the FDA - initiation in patients expected in late 2014 
    
    
--  Plasminogen clinical program and regulatory pathway confirmed in pre-IND
    meeting with the FDA - initiation in patients expected in early H2 2014 



ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF) ("ProMetic" or the
"Corporation") today reported revenues of $5.7 million for the first quarter
ended March 31, 2014, an increase of $1.3 million compared to revenues of $4.4
million for the first quarter of 2013.


"Our first quarter 2014 financial results are in line with our expectations",
stated Mr. Bruce Pritchard, Chief Financial Officer of ProMetic Life Sciences
Inc. "We anticipate our product and service revenues from the bioseparation
technologies to continue growing. We also anticipate partnering some of our
plasma protein products in 2014 and are confident that such partnering will take
place at enhanced values", added Mr. Pritchard. 


"We expect 2014 to be a pivotal year for ProMetic. Some of our lead drug
candidates, from both the plasma derived and small molecules platforms, are
scheduled to enter clinical trial stages in patients during the second half of
the year", mentioned Mr. Pierre Laurin, President and CEO of ProMetic Life
Sciences Inc. "Our product pipeline is developing as planned and the filing of
various INDs over the coming months will demonstrate the significant depth and
value which our proprietary platform technologies can generate", added Mr.
Laurin. 


First Quarter 2014 Highlights and Results 

First Quarter 2014 Business Highlights



--  The Corporation announced the completion of the first commercial-scale
    production run at its ProMetic BioProduction Inc. plasma purification
    facility located in Laval, Quebec; 
    
    
--  The Corporation appointed Dr. John Moran as its new Chief Medical
    Officer ("CMO"), effective as of March 1st, 2014;
    
    
--  The Corporation entered into a new agreement with a leading vaccines
    company, for the development of an affinity adsorbent and associated
    purification process for the production of a novel vaccine product;
    
    
--  The Corporation received approximately $3.2 million from InvHealth
    Holding Inc. ("Invhealth"), a corporation wholly-owned and controlled by
    Mr. Pierre Laurin, President and Chief Executing Officer of ProMetic, as
    via the repayment of the amended and restated loan entered into in
    March, 2010 with by ProMetic and InvHealth; and
    
    
--  The Corporation reported a successful Pre-Investigational New Drug
    ("Pre-IND) meeting with the US Food and Drug Administration ("FDA") for
    its IVIG product currently under development under NantPro,LLC.  



More on First Quarter 2014 Financial Results

The financial information for the first quarter ended March 31, 2014 should be
read in conjunction with the Corporation's interim consolidated financial
statements as well as the Management's Discussion and Analysis for the quarter
ended March 31, 2014.


Total revenues for the first quarter ended March 31, 2014 were $5.7 million
compared to $4.4 million for the first quarter ended March 31, 2013. Revenues
from the sale of goods amounted to $3.2 million compared to $1.9 million for the
same period in 2013. Service revenues remained essentially the same during the
quarter ended March 31, 2014 compared to the same period in 2013.


ProMetic generated a net loss of $8.6 million for the quarter ended March 31,
2014 compared to a net loss of $2.1 million for the quarter ended March 31,
2013. Of the $8.6 million net loss incurred in the first quarter of 2014, a
total of $3.8 million comes from a non-cash item, the variation in fair value of
the warrant liability associated to the Thomvest financing transaction.


ProMetic will be discussing its first quarter 2014 highlights and financial
results during its annual and special meeting of shareholders taking place at
10:30am (EST) on Wednesday, May 14, 2014. A live audio webcast of the annual and
special meeting of shareholders will be available via the corporate website at:
http://www.gowebcasting.com/5531


Additional Information in Respect to the First Quarter ended March 31, 2014

ProMetic's MD&A and interim consolidated financial statements for the quarter
ended March 31, 2014 have been filed on Sedar (http://www.sedar.com/) and will
be available on the Corporation's website at www.prometic.com.


About ProMetic Life Sciences Inc. 

ProMetic Life Sciences Inc. (www.prometic.com) is a long established
biopharmaceutical company with globally recognized expertise in bioseparations,
plasma-derived therapeutics and small-molecule drug development. ProMetic offers
its state of the art technologies for large-scale purification of biologics,
drug development, proteomics and the elimination of pathogens to a growing base
of industry leaders and uses its own affinity technology that provides for
highly efficient extraction and purification of therapeutic proteins from human
plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic
is also active in developing its own novel small-molecule therapeutic products
targeting unmet medical needs in the field of fibrosis, cancer and autoimmune
diseases/inflammation. A number of both the plasma-derived and small molecule
products are under development for orphan drug indications. Headquartered in
Laval (Canada), ProMetic has R&D facilities in the UK, the U.S. and Canada,
manufacturing facilities in the UK and business development activities in the
U.S., Europe and Asia.


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 in ProMetic's Annual Information Form for the year ended December
31, 2013, under the heading "Risk and Uncertainties related to ProMetic's
business". 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, unless required by applicable securities laws
and regulations. All amounts are in Canadian dollars unless indicated otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pierre Laurin
President and CEO
ProMetic Life Sciences Inc.
[e-mail]
+1.450.781.0115


Frederic Dumais
Director, Communications and
Investor Relations
ProMetic Life Sciences Inc.
[e-mail]
+1.450.781.0115