ProMetic Reports Its 2014 Fourth Quarter and Year End Highlights and Financial Results

LAVAL, QUEBEC--(Marketwired - March 31, 2015) - ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF) ("ProMetic" or the "Corporation") today reported revenues of $23.0 million and a net profit of $2.6 million and revenues of $10.5 million and a net profit of $8.5 million for the year and quarter ended December 31, 2014 respectively. This compares to revenues of $20.6 million and a net loss of $17.4 million and revenues of $5.1 million and a net loss of $7.5 million for the year and quarter ended December 31, 2013 respectively.

"The continuation of our transition towards becoming a vertically integrated biopharmaceutical company was greatly facilitated in 2014 by the strengthening of both our market capitalization and overall general financial position. We have continued to increase our investment in the development of more of our own assets by successfully completing 2 different financings totaling more than $48 million", mentioned Mr. Bruce Pritchard, ProMetic's Chief Operating and Chief Financial Officer. "ProMetic is now well positioned to continue executing on its value creation strategic corporate initiatives".

Commenting on the various milestones achieved in 2014, Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer stated: "All our operational and clinical milestone achievements throughout 2014 have favorably positioned ProMetic to benefit from its rapidly growing and significant product pipeline. With numerous drug candidates progressing through and towards advanced stages of clinical development, ProMetic now possesses all the required elements to become a leader in the field of large unmet medical conditions and rare diseases".

2014 Highlights

Business Highlights

ProMetic successfully continued its transition into a vertically integrated biopharmaceutical corporation with a rapidly growing pipeline of drug candidates targeting underserved patient populations in both existing and emerging markets.

In 2014, ProMetic:

- Entered into definitive agreements with GENERIUM Pharmaceuticals for several plasma-derived biopharmaceuticals to be manufactured and commercialized in Russia and CIS. The strategic alliance includes the granting of manufacturing rights by ProMetic to GENERIUM for several plasma-derived biopharmaceuticals using ProMetic's proprietary PPPS™ technology to be manufactured in a up to 600,000 liters per year facility to be built and operated by GENERIUM in Russia;