ProMetic talking about a turnaround

ProMetic Life Sciences (TSX: PLI) is targeting near-term profitability through strategic cost reductions and growth in its underlying business, CEO Pierre Laurin, said in a presentation at BioContact in Quebec City.

He also cited the potential “commercialization of key value drivers,” including adoption of ProMetic’s P-CAPT filter, a prion reduction device, and its PBI-1402 drug for the treatment of anemia in cancer patients undergoing chemotherapy.

The company’s “affinity adsorbents” used by pharmaceutical manufactures to remove pathogens and impurities is attracting new multinational clients, Mr. Laurin said.  Some 12 products approved by regulators are relying on ProMetic technology and more than 20 other products under development are relying on ProMetic, he added.