ProMetic Receives $4 Million Purchase Order

ProMetic Life Sciences has received a $4 million follow-on purchase order under a long-term supply agreement with a global pharmaceutical company. The order relates to a Mimetic Ligand affinity adsorbent developed and manufactured by ProMetic’s UK subsidiary, ProMetic Biosciences. It will be supplied during 3Q and 4Q11. The supply agreement includes provisions for the supply of a purification component for the manufacture of a biopharmaceutical product undergoing manufacturing scale-up in anticipation of regulatory approval and market launch.

“Repeat orders from such a major client strongly underscore ProMetic’s ability to consistently meet its clients’ large scale present and future manufacturing process needs. Furthermore, they reduce our need for equity financing to successfully execute our strategic initiatives,” said Mr. Pierre Laurin, president and chief executive officer of ProMetic.