ProMetic Life Sciences Inc.
ProMetic Life Sciences Inc. is a Canadian publicly traded (TSX: PLI, OTCQX: PFSCF) biopharmaceutical company.
ProMetic products are used in the purification of biologics, drug development, proteomics and the removal of pathogens. ProMetic uses its own technology for the extraction and purification of therapeutic proteins from human plasma, which are then used in the creation of therapeutics and orphan drugs.
ProMetic also develops small-molecule therapeutic products for sufferers of fibrosis, cancer and autoimmune diseases. Headquartered in Laval, Quebec, ProMetic has:
- Research and development facilities in the UK, the US and Canada
- Manufacturing facilities in the UK and Canada[1]
It also conducts business development activities in the US, Europe and Asia. As of 2015, it has approximately 250 employees.
History
ProMetic was incorporated on October 14, 1994 under the Canada Business Corporations Act, originally as Innovon Life Sciences Holdings Limited. On May 19, 1998, the Corporation changed its name from Innovon Life Sciences Holdings Limited to ProMetic Life Sciences Inc. and went public through a listing on the Toronto Stock Exchange.
Business Structure
ProMetic is structured as a parent company with four material separate operating divisions, each of which is a subsidiary controlled by the Corporation. The operating divisions fall under two primary business segments; Protein Technologies and Small Molecule Therapeutics Technologies.
In August 2016, the company announced the acquisition of Telesta Therapeutics.[2]
Protein Technologies
The principal operating subsidiaries are:
- ProMetic BioProduction Inc. (“PBP”), based in Laval, Quebec, Canada
- ProMetic BioTherapeutics Inc. (“PBT”), based in Rockville, MD, USA
- ProMetic BioSciences Ltd. (“PBL”), based in the United Kingdom (Isle of Man and Cambridge)
Small Molecule Therapeutics Technologies
The Small Molecule Therapeutics segment is a small molecule drug discovery business consisting of one entity:
- ProMetic BioSciences Inc. (“PBI”), based in Laval, Quebec, Canada