ProMetic Life Sciences, Inc. (OTCMKTS:PFSCF) Announces New Additions to its Plasminogen’s Targeted Indications. How Will Investors View This News?

ProMetic Life Sciences, Inc. (OTCMKTS:PFSCF) announces that it will be pursuing tympanic membrane perforations as one of its new plasma-derived plasminogen targeted clinical indications.

LAVAL, QC, Sept. 6, 2016

Over 100,000 surgeries performed annually in the USA alone for persistent tympanic perforations

New Plasminogen formulation optimized for wound healing indications

Global patent protection for this new indication secured through Omnio partnership

LAVAL, QC, Sept. 6, 2016 /CNW Telbec/ – ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) (“ProMetic” or the “Corporation”) today announced that it will be pursuing tympanic membrane perforations (“TMP”), as one of its new plasma-derived plasminogen targeted clinical indications. ProMetic expects to file its clinical trial application (“CTA”) in Q4 2016 and to initiate the clinical trial in Sweden in patients suffering from chronic tympanic membrane perforations in H1 2017. 

Over 100,000 surgeries are performed annually in the USA alone to repair chronic TMP which can result from disease (particularly middle ear infection), trauma, or failure to heal after removal of tympanostomy tubes placed to ventilate the middle ear when infected. Omnio scientists in Sweden have clearly demonstrated the remarkable effect of a local plasminogen micro-injection around the perforation on the eardrum in multiple preclinical models.

“Tympanic repair represents a niche market opportunity and is just one of the new clinical indications we intend to pursue with our plasma-derived plasminogen drug candidate”, stated Mr. Pierre Laurin, ProMetic’s President and Chief Executive Officer. “The clinical efficacy demonstrated in our ongoing clinical program combined with the proof of concept data generated by Omnio on chronic wound healing and our global patent protection allows us to confidently pursue this new indication”.

Dr Sten Hellström, Senior Professor in Otorhinolaryngology at the Karolinska Institute, Stockholm, Sweden: “Based on promising preclinical investigations it is time to consider plasminogen as a more efficient treatment than the current surgical procedures.  We have demonstrated in gold standard models how plasminogen treatment efficiently promotes the closure of chronic non-healing TMP. Plasminogen micro-injections provide a simple approach expected to greatly simplify treatment and so reduce morbidity and costs”.

Dr. John Moran, Chief Medical Officer of ProMetic, commented: “It is well-established that plasminogen is critical to the normal process of healing as we also clearly demonstrated in the patients with hypoplasminogenemia who have received intravenous plasminogen during our Phase 2/3 studies. We have now successfully developed an optimal micro-injection formulation for local injection to repair chronic wounds such as persistent tympanic membrane perforations and diabetic foot ulcers. Preclinical models suggest that such injections “kick-start” a de novo healing process in chronic wounds which, for various reasons, have failed to heal. We are excited to commence the clinical development program. I am especially pleased to be working with Dr. Hellström, a world-renowned expert in this field, who will be supervising the clinical trials”. 

About Plasminogen

Plasminogen is a naturally occurring protein that is synthesized by the liver and circulates in the blood. Activated plasminogen, plasmin, is a fundamental component of the fibrinolytic system and is the main enzyme involved in the lysis of blood clots and clearance of extravasated fibrin. Plasminogen is therefore vital in wound healing, cell migration, tissue remodeling, angiogenesis and embryogenesis.

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ( 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.

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ProMetic Life Sciences, Inc. (OTCMKTS:PFSCF) shares closed the most recent session at $2.25, moving from the previous open of $-0.02.  This is compared to the stock’s 52-week high of 2.77 and 52-week low of 1.06.

It’s important to use market capitalization (market cap) to show the size of a company because company size is a basic characteristic in which investors are interested.  Luckily, it’s easy to calculate: Market Capitalization = Number of Shares Outstanding x Price.  For example, if a company has 10 million shares selling at $100/share, it would have a market cap of $1 billion.  Currently, ProMetic Life Sciences, Inc. (OTCMKTS:PFSCF)’s market cap is $1370000000.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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