ProMetic and Serono Sign a Development and Collaboration Agreement

ProMetic and Serono Sign a Development and Collaboration Agreement
- Development revenues for ProMetic of up to (pnds stlg)550,000 (approx. $C1.3M)



MONTREAL, March 10  /PRNewswire-FirstCall/ -- ProMetic Life Sciences Inc. (TSX:
PLI) wholly owned subsidiary ProMetic Biosciences Ltd announced today that it
has signed a development and collaboration agreement with Laboratories Serono
S.A. (virt-x: SEO and NYSE: SRA) to provide Serono access to ProMetic's unique
protein purification technology.

Seronowill fund the development of an affinity adsorbent to isolate and purify
a protein of interest to Serono. A Mimetic Ligand(TM) will be selected from
ProMetic's Intelligent Combinatorial Libraries and will be designed to enhance
Serono's already rigorous therapeutic purification procedures.

"We are thrilled that Serono, a world leader in recombinant products, has chosen
ProMetic's technology to further enhance its manufacturing and purification
processes", commented Pierre Laurin, President and CEO of ProMetic Life Sciences
Inc. "This agreement confirms once again the establishment of ProMetic as a
world leader in the plasma and recombinant protein purification market".

About Serono

Serono is a global biotechnology leader. The Company has seven recombinant
products, Rebif(R), Gonal-F(R), Luveris(R), Ovidrel(R)/Ovitrelle(R),
Serostim(R), Saizen(R) and Zorbtive(TM) (Luveris(R) is not approved in the USA).
In addition to being the world leader in reproductive health, Serono has strong
market positions in neurology, metabolism and growth. The Company's research
programs are focused on growing these businesses and on establishing new
therapeutic areas. Currently, there are approximately 30 ongoing development
projects. In 2003, Serono achieved worldwide revenues of US$2,018.6 million, and
a net income of US$390.0 million, making it the third largest biotech company in
the world. Its products are sold in over 90 countries. Bearer shares of Serono
S.A., the holding company, are traded on the virt-x (SEO) and its American
Depositary Shares are traded on the New York Stock Exchange (SRA).

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. is an international biopharmaceutical company with
headquarters in Montreal (Quebec), additional facilities in the UK and the USA.
ProMetic specializes in research, development, manufacture and marketing of a
variety of commercial applications from its proprietary platform technologies,
which are used in the development of therapeutics, the elimination of pathogens,
proteomics and large-scale drug purification.

  This press release contains forward-looking statements that involve risks
  and uncertainties, including, but not limited to, successful clinical
  development, approval by regulatory bodies, the Company's ability to
  develop, manufacture, and successfully market value-added pharmaceutical
  products and to obtain contracts for its products and services.
  Shareholders are therefore cautioned that these statements are
  predictions and these actual events or results may differ materially from
  those anticipated in these forward-looking statements.


DATASOURCE: PROMETIC LIFE SCIENCES INC.



CONTACT: ProMetic Life Sciences Inc.: Pierre Laurin, President & CEO,

[phone]; Media: Dominic Sicotte, Director of Communication,

[phone], ; http://www.prometic.com/; Renmark Financial

Communications: Investor Relations: John Boidman or Sylvain Laberge,

[phone]; http://www.renmarkfinancial.com/; Hofman Communications: Sofie

St-Laurent, Director of Communications, [phone]

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