MONTREAL, QUEBEC -- (MARKET WIRE) -- 02/01/07 -- ProMetic Life Sciences Inc. (TSX: PLI) ("ProMetic") today provided an update on its therapeutic unit, ProMetic BioSciences Inc., which focuses on the development of synthetic drugs in hematology and cancer. This work has given rise to a number of compounds from which the latest compounds, PBI-1737 and PBI-3941, have been selected respectively for preclinical testing in cancer and neutropenia.

Pierre Laurin, President and Chief Executive Officer of ProMetic stated, "Our objective is to create a pipeline composed of compounds with the potential to produce drugs for treating cancer and hematological disorders. I am pleased to say that we have continued to test and discover more compounds, which expands our knowledge base and augments our pipeline."

HEMATOLOGY PROGRAM

ProMetic's hematology program is focused on hematopoiesis. PBI-1402 is ProMetic's lead clinical compound in hematopoiesis; it targets anemia caused by chemotherapy and renal diseases by promoting the formation of red blood cells from bone marrow.

The mechanism of action is distinct from the current drug of choice for the treatment of anemia, EPO. PBI-1402 does not bind to the same cell surface receptor as EPO, and therefore offers three potential uses for PBI-1402 to treat anemic patients: as a stand alone treatment, in patients not responsive to EPO and in combination with EPO.

PBI-1402 is being tested in three Phase Ib/II trials for anemia. They include two chemotherapy induced anemia trials in Canada and Europe and recently, the Company received regulatory approval in Canada to treat anemic patients with Chronic Kidney Disease.

ProMetic anticipates that it will develop a next generation version of PBI-1402 for anemia, which is intended to exploit different activities of the lead drug candidate.

PBI-3941 is ProMetic's lead preclinical hematopoiesis compound. It targets neutropenia, a condition where white blood cell counts are lower than normal. Mr. Laurin commented, "In animal studies, PBI-3941 demonstrated an increase in neutrophil count, thus confirming that ProMetic scientists have homed in on a new class of compounds that can provide the discovery of many 'first in class' drugs for various hematological disorders. These potential drugs have the advantage of reduced cost in comparison with recombinant protein drugs currently on the market."

CANCER PROGRAM

ProMetic's cancer program is focused on synthetic compounds which target a wide range of cancers. PBI-1393 is ProMetic's lead clinical compound in cancer. It functions as an activator of cytotoxic T-lymphocytes (CTLs) and will soon be tested in a Phase Ib/II trial for advanced cervical cancer. In addition to cervical cancer, ProMetic scientists believe that PBI-1393 will be a valuable drug for the treatment of other cancers, such as metastatic melanoma, breast, colon and pancreatic cancers, which are sensitive to the action of CTLs.

Other compounds in ProMetic's preclinical cancer pipeline include: PBI-1737 for prostate cancer; PBI-1668 for breast and lung cancer and PBI-1308 for acute leukemia. Mr. Laurin said, "This is a very encouraging discovery program which has led to a diversified pipeline of compounds for the treatment of cancer and hematological disorders."

PROMETIC'S UPDATED PIPELINE CHART

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                      PROMETIC BIOSCIENCES INC.

                    THERAPEUTIC PRODUCT PIPELINE
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Hematopoiesis
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Compound    Status                  Therapeutic Indication
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PBI-1402    Clinical Phase Ib/II    Anemia
PBI-3941    Preclinical             Neutropenia
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Cancer
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Compound    Status                  Therapeutic Indication
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PBI-1393    Clinical Phase I/II     CTL activation adjuvant to
                                    chemotherapy
PBI-1737    Preclinical             Prostate cancer
PBI-1668    Preclinical             Breast and lung cancer
PBI-1308    Preclinical             Acute myelogenous leukemia
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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) enabling 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 inflammation 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 and manufacturing facilities in the UK and business development activities in the US, Europe, Asia and MENA countries (Middle East and North Africa).

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 17 of the Company's Annual Information Form for the year ended December 31, 2005, 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
p.laurin@ProMetic.com

ProMetic Life Sciences Inc.
Anne Hodgkinson
Communications Manager
514-341-2115 ext.2234
a.hodgkinson@ProMetic.com