Prometic Provides Revenue Guidance Update

  • Total 2015 revenues to be $24 million
  • 2015 product sales to be $21 million, an increase of 94% on 2014  
  • Q4 sales to reach $14 million, driving total H2 2015 revenues to exceed $19 million in line with guidance

LAVAL, QC, Dec. 17, 2015 /CNW Telbec/ - ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) ("ProMetic" or the "Corporation") announced today that its 2015 revenues are to be in line with guidance provided during its Q3 results call. Total full-year revenues are expected to be $24 million, consisting of $21 million of product sales and $3 million of service and milestone revenues. The product sales figure of $21 million is up over $10 million, or 94%, on the 2014 total of $10.8 million.

Commenting on the product revenue growth, Mr. Bruce Pritchard, ProMetic's Chief Operating Officer stated, "Our bioseparation products are now used in the manufacture of 17 regulated biopharmaceutical products approved for sale by either the FDA or the EMA. We expect revenues from bioseparations products to increase significantly over the coming years as licensees of ProMetic's proprietary plasma manufacturing process (PPPSTM) begin to increase production". Mr. Pritchard added, "2015 has been the strongest year in our corporate history for sales of bioseparation products, demonstrating that this proprietary technology is still an important part of our business model, contributing to the financial needs of our Therapeutic pipeline."

Pierre Laurin, ProMetic's President and CEO noted, "We are very pleased with the performance of our resin business this year. We estimate that within 5 years, the sale of bioseparation products should be generating more than $75m in revenues from existing and new clients and coupled with our PPPS™ partners."

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, anemia, neutropenia, cancer and autoimmune diseases/inflammation as well as certain nephropathies. Headquartered in Laval (Canada), ProMetic has R&D facilities in the UK, the U.S. and Canada, manufacturing facilities in the UK and commercial activities in the U.S., Canada, Europe, Russia, Asia and Australia.

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, 2014, 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.

 

SOURCE ProMetic Life Sciences Inc.

For further information: Pierre Laurin, President and CEO, ProMetic Life Sciences Inc., p.laurin@prometic.com, +1.450.781.0115; Frédéric Dumais, Senior Director, Communications and Investor, Relations, ProMetic Life Sciences Inc., f.dumais@prometic.com, +1.450.781.0115

RELATED LINKS
http://www.prometic.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890