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Mar 18, 2008

Prometic Inks Deal with Sartorius Stedim Biotech to Buttress Asian Business

  • Sartorius Stedim Biotech hase become the preferred supplier and technology provider of filtration equipment and consumables to plasma fractionators that in-license ProMetic Life Sciences’ manufacturing process. The agreement is the second technology transfer deal resulting from a 2006 collaboration between the firms.

    “This association allows us to combine ProMetic’s proprietary technology and Sartorius’ integrated technology portfolio to bypass current bioseparation limitations,” says Uwe Gottschalk, Ph.D., vp of purification technologies at Sartorius Stedim Biotech. “In doing so, we generate increased yields for plasma-derived proteins and therefore enhance the profitability of the existing processes at our customers.”

    ProMetic recently signed over rights to market its plasma protein process in Chinese market to Wuhan Institute of Biological Products. In addition, ProMetic has agreements with the Taiwanese company Blue-Blood Biotech for the development and commercialization of human plasma-derived specialty immunoglobulin preparations for infectious diseases. Under this agreement, ProMetic would retain the rights to hyperimmune products for the North American market.

    “These agreements and our relationship with Sartorius Stedim Biotech contribute to our short-term revenue growth and to making our protein technologies business EBITDA positive in 2008 and generating an EBITDA of $15 to $20 million in 2009,” states Pierre Laurin, president and CEO of ProMetic. “Collectively, these agreements have firmly established ProMetic’s technology in Asia and provide an opportunity to generate an estimated $60 million in annual product sales and royalties for ProMetic, with the first plasma-derived products expected to be commercialized in 2011 in Asia and in North America.”



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