ProMetic Life Sciences Inc. (PFSCF: OTCQX International) | ProMetic Announces Closing of $50 M Bought Deal Offering of Common Shares

LAVAL, QUEBEC–(Marketwired – May 6, 2015) – ProMetic Life Sciences Inc. (TSX:PLI)(OTCQX:PFSCF), (“ProMetic” or the “Corporation”) closed today its previously announced bought deal public offering of common shares in the capital of the Corporation (the “Offering”) through a syndicate of underwriters led by Canaccord Genuity Corp., and which included RBC Dominion Securities Inc., Beacon Securities Limited, TD Securities Inc. and Paradigm Capital Inc. (collectively, the “Underwriters”). ProMetic issued 19,250,000 common shares of the Corporation in connection with the Offering at a price of $2.60 per share for aggregate gross proceeds of $50,050,000. In consideration for the services rendered by the Underwriters under the Offering, the Underwriters received a cash commission of 5% of the gross proceeds of the Offering.

As previously disclosed, the Corporation intends to use the net proceeds from the Offering for: (1) the advancement of additional clinical programs relating to the Corporation’s orally active anti-fibrotic drug PBI-4050 and new plasma-derived orphan drugs, (2) the expansion of clinical uses and proprietary positions on some plasma-derived orphan drugs, and (3) the manufacturing scale up of orphan drug candidates and of promising follow-on drug candidates to PBI-4050. The net proceeds will also allow the Corporation to increase its manufacturing capacity for plasma derived therapeutics. These initiatives, as well as providing additional working capital, will allow the Corporation to continue to exercise greater control and ownership over its technology platforms, therefore providing an opportunity to retain a greater portion of the associated value for its shareholders.

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 business development activities in the U.S., Europe and Asia.

Forward-Looking Statements

This press release contains forward-looking statements about ProMetic’s objectives, strategies and businesses, including statements regarding how the Corporation intends to use the net proceeds from the Offering, 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 “Risks 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.