ProMetic Aquires Affinity Chromatography Ltd.

ProMetic Life Sciences Inc. has acquired full ownership of Affinity Chromatography Ltd. (ACL), a company which holds a 34% interest in its BioSciences subsidiary, thereby rendering BioSciences a wholly owned subsidiary. ACL shareholders agreed to the acquisition in exchange for 1.2 million subordinate-voting shares of ProMetic, approximately 80% of which will be held in escrow for a six- month period.

In 1996, ACL was awarded the Queen's Award for Technological Achievement for developing advanced separations technology in the biotechnology sector in the UK. ACL owns the proprietary Mimetic Ligand technology, pioneered over an 11-year period at the Institute of Biotechnology of the University of Cambridge.

ProMetic is currently utilizing this technology as part of its value-added injectable pharmaceutical strategy to improve the purity level of targeted injectable products, and expects to exploit this purification technology for a variety of biopharmaceutical markets as well as for the diagnostic and medical devices markets.

For more information: Pierre Laurin, president and CEO, Prometic Life Sciences Inc., Telephone: 514-496-2115.