ProMetic Life Sciences

Prometic Life Sciences Inc.
Traded as
Industry Biopharmaceutical
Pharmaceutical
Founded October 14, 1994 (1994-10-14)
Headquarters 440 Boul. Armand-Frappier Suite 300, Laval, Québec, Canada
Website prometic.com

Prometic Life Sciences Inc. is a Canadian publicly traded biopharmaceutical company.

History

Prometic was founded in 1988, as a commercial spinoff of research at the University of Cambridge on affinity chromatography.[1] Its founder was the current President and CEO, Pierre Laurin, whose research formed the basis for the company's products.[1] On May 19, 1998,the Corporation went public through a listing on the Toronto Stock Exchange.

In August 2016, the company announced the acquisition of Telesta Therapeutics.[2]

Business

Most of the company's products are based on its affinity chromatography process. One use of this process is the purification of drugs, reducing impurities and thus side effects.[1] A second use is removing pathogens from human blood; in 2002, ProMetic formed a joint venture with the American Red Cross to remove pathogens and viruses from collected blood.[3] A third application is to extract and purify therapeutic proteins from human plasma, which are then used in the creation of therapeutics and orphan drugs.

Prometic has two business segments: the protein technologies segment and the small-molecule therapeutics segment.

The small-molecule therapeutics segment produces products for sufferers of fibrosis, cancer and autoimmune diseases. The company most prominent product is PBI-4050, an anti-fibrosis product. [4]

Headquartered in Laval, Quebec, Prometic has:

  • Research and development facilities in the UK, the US and Canada
  • Manufacturing facilities in the UK and Canada[5]

It also conducts business development activities in the US, Europe and Asia. As of 2015, it has approximately 250 employees.

References

  1. 1 2 3 "Most Innovative CEO of the Year: Pierre Laurin, Prometic". Canadian Business - Your Source For Business News. 2015-10-19. Retrieved 2018-04-20.
  2. ↑ "ProMetic to Acquire Telesta Therapeutics - GEN". GEN.
  3. ↑ "ProMetic to team with Red Cross". The Globe and Mail. 2002-04-22. Retrieved 2018-04-20.
  4. ↑ "Three top stock picks from Selective Asset's Robert McWhirter". The Globe and Mail. 2014-08-29. Retrieved 2018-04-20.
  5. ↑ "Today's Stock Market News and Analysis from Nasdaq.com". NASDAQ.com.
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