2012 Annual Report - Prometic - Life Science, Inc.

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We operate in a fast growing and lucrative plasma derived products market worth in excess of $12 billion per year” PROMETIC LIFE SCIENCES INC. 8 Source : Sartorius : Sartobind® Jumbo Process-Scale Membrane Adsorbers Ion Exchange The Sartobind ® Jumbo is a 5 liter membrane chromatography device for large scale capturing and impurity removal at high flow rates.
PROMETIC’S BUSINESS IS ORGANIZED AND BASED UPON 2 DISTINCT BUSINESS SEGMENTS. PROMETIC’S STRATEGY IN RELATION TO ITS PROTEIN TECHNOLOGIES BUSINESS SEGMENT HAS BEEN WELL DEFINED BY MANAGEMENT; APPLYING PROMETIC’S PROPRIETARY TECHNOLOGIES TO NEW AND EXISTING MARKETS FOR LARGE-SCALE DRUG PURIFICATION, DRUG DEVELOPMENT, PROTEOMICS (THE STUDY OF PROTEINS) AND THE ELIMINATION OF PATHOGENS. A- BIOSEPARATION THE TECHNOLOGY Our bioseparation technologies are used in a variety of applications for the production and purification of biopharmaceuticals, for the capture and removal of biocontaminants or to extract and recover valuable proteins from various sources. This is a process commonly known as “affinity chromatography”. This process is mainly used for the separation and isolation of proteins. The technique relies upon the ability of proteins to recognize and bind to target biomolecules (ligands) in a specific and reversible manner. Affinity chromatography uses an adsorbent comprised of a porous support matrix to which the ligand is attached. An affinity separation is then performed by passing the protein solution over the adsorbent, incorporating the ligand, so that the target protein is adsorbed while allowing contaminants (other proteins, lipids, carbohydrates, DNA, pigments, etc.) to pass through without hindrance. The adsorbent is normally contained within a chromatography column. Following adsorption, the adsorbent is washed with buffer to remove residual contaminants and then the bound protein is eluted in pure form. COMMERCIAL APPLICATIONS Our proprietary affinity adsorbents are manufactured in our UK based subsidiary (Isle of Man), ProMetic BioSciences Ltd (“PBL”). They are sold to and used by some of the most reputable biopharmaceutical companies in the world in their respective drugs manufacturing processes. Through years of research and development, PBL has built an extensive ligand library and now offers ligands targeting a vast selection of proteins. PBL has experienced continued revenue growth and profitability since 2007. In 2012, PBL contributed to the growth and increased profitability of the Corporation by shipping products for more than $11.5 million compared to $5.2 million in 2011. With more than 28 commercial applications and products currently under development and more than 14 applications and products already approved utilizing ProMetic’s technologies, PBL’s growing stream of recurring revenues is expected to achieve critical mass status and play an important role in the overall growth and profitability objectives of the Corporation in the coming years. As an example of the commercial potential of the technology, one of ProMetic’s many clients placed a $4.2 million purchase order again in May 2012 relating to the purchase of a proprietary Mimetic Ligand affinity adsorbent developed and manufactured by ProMetic’s UK subsidiary. It is worth noting that this client has not yet received regulatory approval for its product currently being developed and that the anticipated order quantities are expected to significantly increase once the product reaches regulatory approval and commercialization stages. This principle holds true in general for the vast majority of projects in which ProMetic’s technology is involved. Another example of a commercialized proprietary affinity resin is PrioClear TM . The PrioClear range of prion binding affinity resins was developed through Pathogen Reduction and Diagnostic Technologies, Inc. (“PRDT”), initiated as a collaborative venture with the American Red Cross and now majority owned by ProMetic BioSciences Ltd (PBL). PRDT has applied its proven affinity technologies to the design and development of a panel of affinity adsorbents that enable the highly effective capture of prion from a range of biological materials. The PrioClear resins are used commercially to increase the safety of blood and blood-derived products. ProMetic is already seeing the commercial benefits of selling PrioClear TM . ProMetic received a $2.5 million purchase order under its ongoing supply agreement with Octapharma, a leading, Swiss based, independent global plasma fractionation company that specializes in human proteins. In this application, PrioClear is incorporated into Octapharma’s manufacturing process for its solvent/ detergent treated plasma product, Octaplas LG ® . Octaplas LG ® is approved for marketing in several European countries and the USA and ProMetic’s sales to OctaPharma are expected to increase on a yearly basis. As demonstrated in the graphic below, revenues from PBL augments year over year and should continue to do so as ProMetic’s clients receive regulatory approval and move into commercial production and supply. Million $ 25 20 15 10 5 0 2006 2007 2008 2009 2010 2011 2012 Year over year growth of sales 9PROMETIC LIFE SCIENCES INC.
Page 1 and 2: ANNUAL REPORT 2012 We believe in ou
Page 3 and 4: We have + 14 + 28 applications and
Page 5 and 6: WHO WE ARE ProMetic Life Sciences I
Page 7 and 8: On May 15, 2012, ProMetic received
Page 9: alliance for the manufacturing of o
Page 13 and 14: PROMETIC’S BUSINESS IS ORGANIZED
Page 15 and 16: PROMETIC’S BUSINESS IS ORGANIZED
Page 17 and 18: MANAGEMENT’S DISCUSSION & ANALYSI
Page 19 and 20: Although the Company achieved its f
Page 21 and 22: During the year ended December 31,
Page 23 and 24: FOURTH QUARTER The following inform
Page 25 and 26: Following a consulting agreement en
Page 27 and 28: CONSOLIDATED STATEMENTS OF FINANCIA
Page 29 and 30: CONSOLIDATED STATEMENTS OF CHANGES
Page 31 and 32: NOTES TO CONSOLIDATED FINANCIAL STA
Page 33 and 34: The gain or loss arising on the dis
Page 35 and 36: n) Income taxes The Company uses th
Page 37 and 38: IFRS 12 Disclosure of Involvement w
Page 39 and 40: 11. CAPITAL ASSETS Leasehold Equipm
Page 41 and 42: 13. BANK AND OTHER LOANS 2012 2011
Page 43 and 44: (b) Other loans: 1) Loan for an ini
Page 45 and 46: purposes. Consequently, the loans w
Page 47 and 48: 2012 During the year ended December
Page 49 and 50: d) Stock-based compensation: The Co
Page 51 and 52: 22. CAPITAL DISCLOSURES December 31
Page 53 and 54: Fair value hierarchy Financial inst
Page 55 and 56: December 31, 2012 December 31, 2011
Page 57 and 58: The Company has tax losses which ar
Page 59 and 60: d) Acquisition of capital assets an
Page 61 and 62:
On March 7, 2013, the share purchas
Page 63 and 64:
CORPORATE INFORMATION HEADQUARTERS
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2012 Annual Report - Prometic - Life Science, Inc.

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