PBI-1308 proven pre-clinical in vivo efficacy Darier's clinical development to target atopic dermatitis and psoriasis MONTREAL, CANADA and MEXICO CITY, MEXICO -- (MARKET WIRE) -- July 16, 2007 -- ProMetic BioSciences Inc., the drug development subsidiary of ProMetic Life Sciences Inc. ("ProMetic") (TSX: PLI), and Laboratorios Dermatologicos Darier S.A. ("Darier"), the market leader in dermatology in Mexico, announced they have signed an agreement for ProMetic's synthetic anti-inflammatory compound PBI-1308 in dermatological disorders. PBI-1308, a novel compound which derives from ProMetic's autoimmune disease and inflammation program, has demonstrated in vivo efficacy in animal models of atopic dermatitis and psoriasis when orally or topically administered. Under the agreement, Darier will be responsible for the development of the drug formulation and the clinical program necessary to obtain regulatory approval for PBI-1308 in dermatological applications. ProMetic will provide Darier with pre-clinical information and supply of the active ingredient in bulk form; Darier holds an option to obtain exclusive rights for Mexico, Central America and South America (excluding Brazil) to commercialize PBI-1308 for which they will pay a royalty on sales to ProMetic. Both companies will also seek to further license the rights of the fully developed drug dossier to other territories worldwide (excluding Canada). Any additional licenses that are granted will be on a revenue sharing basis between Darier and ProMetic, with ProMetic retaining the rights to supply the active ingredient. "This is a very exciting program for both companies which combines ProMetic's ability to generate new and novel molecules and Darier's proven expertise in the development and commercialization of novel dermatological products," stated Pierre Laurin, President and Chief Executive Officer of ProMetic. Mr. Ricardo Spinola, Chief Operating Officer of Darier, commented, "Darier is committed to providing the dermatology community with novel, safe and cost effective therapeutics addressing unsatisfied medical markets, aiming at increasing patients' quality of life and well being. Because there are millions of people afflicted with atopic dermatitis and psoriasis, both companies believe that there is significant future revenue potential from licensing fees and royalties as we work to commercialize this compound and eventually expand sales territories around the world." The two companies are also in discussions to further the current relationship to include other ProMetic new drug candidates for development as dermatological products. ProMetic has developed a range of compounds with proven efficacy in animal models of autoimmune and inflammatory disorders. While ProMetic is currently focusing on the clinical development of drugs in the field of hematology and oncology, it has undertaken to partner the clinical development of its autoimmune disease compounds. More about Darier Darier (www.darier.com.mx) is a vertically integrated specialty pharmaceutical company that research and develops, manufactures, and commercializes dermatology products. Darier's strengths include product launches, product development, product improvement, clinical development, manufacturing (GMP accreditation), and regulatory affairs, which make the company a proven partner of choice for early to late stage compounds and novel branded prescription pharmaceutical products and technologies. Darier is the market leader in dermatology with a more than 14% market share (IMS) in Mexico and an established marketing presence in Latin America. Darier's product range includes a broad range of dermatological products from prescription to dermoceuticals including acne, atopic dermatitis, sunscreens, and skin cancer. Its strength lies on high product quality, product innovation and its privileged relationship with Dermatologists and Pediatricians cultivated over its 25-year history. Corporate headquarters are located in Mexico City, and research and developing and manufacturing facilities in Cuernavaca, Morelos, Mexico. Additional information is available on the Company's website at www.darier.com.mx. About ProMetic Life Sciences Inc. ProMetic Life Sciences Inc. (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 U.S., Europe, Asia and in the Middle-East. Additional information is available on the Company's website at www.prometic.com. 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, the Company'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 the Company 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 the Company's Annual Information Form for the year ended December 31, 2006, 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. Contacts: ProMetic Life Sciences Inc. Pierre Laurin President and CEO 514-341-2115 [email protected] ProMetic Life Sciences Inc. Anne Leduc Manager, Communications 514-341-2115 ext.2234 [email protected] Laboratorios Dermatologicos Darier, S.A. de C.V. Juan Carlos Lozano Vice-President Business Development +52 (55) 5350 5555 [email protected] Lippert / Heilshorn & Associates Bruce Voss 310-691-7100 [email protected] Lippert / Heilshorn & Associates Lisa Lindberg 212-838-3777 [email protected]