ProMetic and Serono Sign a Development and Collaboration Agreement - Development revenues for ProMetic of up to (pnds stlg)550,000 (approx. $C1.3M) MONTREAL, March 10 /PRNewswire-FirstCall/ -- ProMetic Life Sciences Inc. (TSX: PLI) wholly owned subsidiary ProMetic Biosciences Ltd announced today that it has signed a development and collaboration agreement with Laboratories Serono S.A. (virt-x: SEO and NYSE: SRA) to provide Serono access to ProMetic's unique protein purification technology. Seronowill fund the development of an affinity adsorbent to isolate and purify a protein of interest to Serono. A Mimetic Ligand(TM) will be selected from ProMetic's Intelligent Combinatorial Libraries and will be designed to enhance Serono's already rigorous therapeutic purification procedures. "We are thrilled that Serono, a world leader in recombinant products, has chosen ProMetic's technology to further enhance its manufacturing and purification processes", commented Pierre Laurin, President and CEO of ProMetic Life Sciences Inc. "This agreement confirms once again the establishment of ProMetic as a world leader in the plasma and recombinant protein purification market". About Serono Serono is a global biotechnology leader. The Company has seven recombinant products, Rebif(R), Gonal-F(R), Luveris(R), Ovidrel(R)/Ovitrelle(R), Serostim(R), Saizen(R) and Zorbtive(TM) (Luveris(R) is not approved in the USA). In addition to being the world leader in reproductive health, Serono has strong market positions in neurology, metabolism and growth. The Company's research programs are focused on growing these businesses and on establishing new therapeutic areas. Currently, there are approximately 30 ongoing development projects. In 2003, Serono achieved worldwide revenues of US$2,018.6 million, and a net income of US$390.0 million, making it the third largest biotech company in the world. Its products are sold in over 90 countries. Bearer shares of Serono S.A., the holding company, are traded on the virt-x (SEO) and its American Depositary Shares are traded on the New York Stock Exchange (SRA). About ProMetic Life Sciences Inc. ProMetic Life Sciences Inc. is an international biopharmaceutical company with headquarters in Montreal (Quebec), additional facilities in the UK and the USA. ProMetic specializes in research, development, manufacture and marketing of a variety of commercial applications from its proprietary platform technologies, which are used in the development of therapeutics, the elimination of pathogens, proteomics and large-scale drug purification. This press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, successful clinical development, approval by regulatory bodies, the Company's ability to develop, manufacture, and successfully market value-added pharmaceutical products and to obtain contracts for its products and services. Shareholders are therefore cautioned that these statements are predictions and these actual events or results may differ materially from those anticipated in these forward-looking statements. DATASOURCE: PROMETIC LIFE SCIENCES INC. CONTACT: ProMetic Life Sciences Inc.: Pierre Laurin, President & CEO, (514) 341-2115; Media: Dominic Sicotte, Director of Communication, (514) 341-2115, ; http://www.prometic.com/; Renmark Financial Communications: Investor Relations: John Boidman or Sylvain Laberge, (514) 939-3989; http://www.renmarkfinancial.com/; Hofman Communications: Sofie St-Laurent, Director of Communications, (514) 673-1116

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