Prometic soars on Octaplas approval

ProMetic's  PrioClear is incorporated into the manufacturing process for Octaplas, a  treatment for  patients with blood clotting disorders that has already treated more than two-million patients outside the United States.

ProMetic’s PrioClear is incorporated into the manufacturing process for Octaplas, a treatment for patients with blood clotting disorders that has already treated more than two-million patients outside the United States.

Shares of Prometic Life Sciences (TSX:PLI) have been among the heaviest traders on the TSX of late. On Friday, the company announced that it had has received confirmation from partner Octapharma of the regulatory approval of Octaplas by the Food and Drug Administration (FDA) for the U.S. market.

ProMetic’s PrioClear is incorporated into the manufacturing process for Octaplas, a treatment for patients with blood clotting disorders that has already treated more than two-million patients outside the United States.

Prometic CEO Pierre Laurin said the deal could be the tip of the iceberg.

“We expect Octaplas’s U.S. regulatory approval to significantly contribute to our growth objectives given the overall magnitude of the American market. We believe that the added value provided by ProMetic’s prion capture technology will play a key role in the commercial success of this product,” he said.

Founded in 1992, Laval-based Prometic Life Sciences designs technology that is used to remove pathogens from blood, and extract and recover proteins from plasma.

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About Nick Waddell

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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