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ProMetic and Hematech close $10M orphan drug deal

ProMetic Life Sciences Inc. in Laval, Que. has signed a $10-million strategic manufacturing and licence deal with a drug manufacturer in Taiwan to co-develop and commercialize a pharma product that targets a rare medical condition (orphan).


May 7, 2012
by PLANT STAFF

LAVAL, Que.: ProMetic Life Sciences Inc. in Laval, Que. has signed a $10-million strategic manufacturing and licence deal with a drug manufacturer in Taiwan to co-develop and commercialize a pharma product that targets a rare (but unidentified) medical condition.

The global deal (excluding China) with Hematech Biotherapeutics Inc. (HBI) allows HBI to manufacture the plasma-derived biopharmaceuticals using ProMetic’s proprietary Plasma Protein Purification System (PPPS).

ProMetic said the $10 million from HBI will fund the “orphan” drug’s development program up to regulatory approval.

The drug will be manufactured by ProMetic at its Laval facility and in HBI’s planned facility in Taiwan.

Prometic’s PPPS system targets and removes high-value proteins from a single plasma sample. This system also provides for the recovery of new biotherapeutics as they are discovered and identified.

ProMetic Life Sciences specializes in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic Ligand technology, which is used in the large-scale purification of biologics and the elimination of pathogens.