MONTREAL, June 14 /PRNewswire-FirstCall/ -- ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic") today presented results on its orally-active PBI-1402 compound in clinical trial in patients with chemotherapy-induced anemia ("CIA") at the 13th Congress of the European Hematology Association held in Copenhagen, Denmark this week.
Dr. Lyne Gagnon, ProMetic's Director R&D, Biology, presented data on PBI-1402 in a poster entitled "PBI-1402 increases hemoglobin level and red blood cell count in chemotherapy-induced anemia". Results demonstrated that a once daily oral treatment of PBI-1402 induces a significant increase in hemoglobin ("Hb") level, red blood cell ("RBC") count and hematocrit ("Ht") in CIA patients. Furthermore, results suggest that PBI-1402 can reduce the need for RBC transfusion, since only 6% of patients in the clinical trial required transfusion.
"Subsequent positive data compiled from the 28 patients having completed the PBI-1402 CIA clinical trial include the fact that 26 of these patients did not require RBC transfusions while maintaining their full chemotherapy regimen. This data further supports that PBI-1402's current performance is in line with the Food and Drug Administration's ("FDA") recommendation of reducing patient need for RBC transfusions," states Mr. Pierre Laurin, ProMetic's President and Chief Executive Officer. "Additionally, PBI-1402 offers the added advantage of oral dosing which allows for a convenient management of anemia without interference with other treatments received by the CIA patients."
In the March 13, 2008 briefing document, the FDA's Oncologic Drugs Advisory Committee emphasized that the primary objective of treating CIA patients with erythropoiesis-stimulating agents ("ESAs") as being the ability to reduce the need for RBC transfusions. Approximately 50% of anemic patients receiving chemotherapy require RBC transfusions, and 20%-25% of patients treated with ESAs still require RBC transfusions.
About ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. ("ProMetic") (http://www.prometic.com/) is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic Ligand(TM) technology. This technology is used in large-scale purification of biologics and the elimination of pathogens. ProMetic is also active in therapeutic drug development with the mission to bring to market effective, innovative, lower cost, less toxic products for the treatment of hematology and cancer. Its drug discovery platform is focused on replacing complex, expensive proteins with synthetic "drug-like" protein mimetics. Headquartered in Montreal (Canada), ProMetic has R&D facilities in the U.K., the U.S. and Canada, manufacturing facilities in the U.K. and business development activities in the US, Europe, Asia and in the Middle-East.
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 on page 21 of ProMetic's Annual Information Form for the year ended December 31, 2007, under the heading "Risk Factors". 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.
