Prometic secures $30 million follow-on financing from Structured Alpha LP, an affiliate of Thomvest Asset Management inc.

March 1, 2016 Frederic Dumais
  • Brings the total investment in ProMetic from Peter J. Thomson’s Toronto-based investment vehicle to $60 million
  • $30 Million debt financing bearing implied interest of 8% per annum and repayable in July, 2022
  • No material additional covenants or security granted by ProMetic over and beyond the existing debt package
  • 11,793,380 warrants granted at an exercise price of $4.70, a premium of 80% to most recent market price
  • Aggregate proceeds from exercise of warrants to offset total amount repayable under the debt instrument

LAVAL, QUEBEC, CANADA – March 1, 2016 – ProMetic Life Sciences Inc. (TSX: PLI) (OTCQX: PFSCF) (“ProMetic” or the “Corporation”) announced today that it has secured a follow-on investment from Structured Alpha LP, an affiliate of Peter J. Thomson’s investment firm, Thomvest Asset Management Inc., consisting of a $30 million original issue discount note (“Note”). As partial consideration for the Note, ProMetic has granted Structured Alpha LP 11,793,380 warrants with an exercise price of $4.70 per common share, a premium of 80% to yesterday’s closing share price.

ProMetic will use the proceeds to advance its PBI-4050 clinical programs, for the development and manufacture of its plasma-derived orphan drugs portfolio, and for general corporate and working capital purposes.

Commenting on Structured Alpha’s follow-on investment, Mr. Pierre Laurin, President and Chief Executive Officer of ProMetic Life Sciences Inc., said: “We are delighted that Mr. Thomson has decided to deepen his relationship with ProMetic. Our strategic relationship has already allowed for the operational launch of our plasma purification facility, the accelerated development of our plasma derived and small molecule technology platforms and advancement of our clinical programs”. “We look forward to leveraging this follow-on investment to generate value for all our shareholders”, added Mr. Laurin.

Commenting on the transaction, Mr. Greg Weaver, ProMetic’s Chief Financial Officer, noted: “The structure of all of our debt with Structured Alpha LP is very favorable, with the aggregate proceeds of the warrants’ offsetting the repayment value of the Note at the time it falls due”.

“We are very pleased to provide more support to ProMetic as it continues to deliver on its operational and clinical milestones”, said Stefan Clulow, Managing Director and Chief Investment Officer at Thomvest Asset Management Inc. “Since our initial investment in September 2013, ProMetic has transitioned from a development stage company to an integrated biopharmaceutical company that is advancing a broad array of small molecule and plasma-derived clinical assets. We are confident that ProMetic will be successful in monetizing its innovations and we look forward to participating further in the significant value creation we see unfolding as ProMetic’s product pipeline continues to grow and approach the commercialization stage”.

The Note is an addendum to an existing original issue discount note with Structured Alpha LP and is secured by ProMetic’s assets, excluding its patent portfolio. The redemption value of the Note implies a compounded annual interest rate of 8%. No interest or principal is required to be repaid prior to July, 2022. As part of this transaction, ProMetic has granted Structured Alpha LP a warrant to purchase 11,793,380 common shares at a $4.70 per common share price with a term expiring in July, 2022. The proceeds received by ProMetic from the aggregate exercise of all of the warrants would be sufficient to repay the Note in its entirety. No material additional security or covenants have been granted to Structured Alpha LP, over those already in place by the current original issue discount notes.

About Thomvest Asset Management Inc. And Structured Alpha LP

Thomvest Asset Management Inc. is a Toronto-based investment management firm controlled by Peter J. Thomson. Structured Alpha LP is an affiliate of Thomvest Asset Management Inc. that makes structured investments in companies that leverage disruptive technologies and business models to pursue high-growth commercial opportunities. We are committed to the success of our entrepreneur partners. The capital we invest is our own, enabling us to be more creative, flexible, strategic and patient than most investors. It takes time to build great companies and Thomvest and its affiliates are committed to supporting its entrepreneurs throughout their journey. To learn more about Thomvest, please visit us at

About ProMetic Life Sciences Inc.

ProMetic Life Sciences Inc. ( is a long-established biopharmaceutical company with globally recognized expertise in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its state of the art technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens to a growing base of industry leaders and uses its own affinity technology that provides for highly efficient extraction and purification of therapeutic proteins from human plasma in order to develop best-in-class therapeutics and orphan drugs. ProMetic is also active in developing its own novel small-molecule therapeutic products targeting unmet medical needs in the field of fibrosis, anemia, neutropenia, cancer and autoimmune diseases/inflammation as well as certain nephropathies. Headquartered in Laval (Canada), ProMetic has R&D facilities in the UK, the U.S. and Canada, manufacturing facilities in the UK and commercial activities in the U.S., Canada, Europe, Russia, Asia and Australia.

Forward Looking Statements

This press release contains forward-looking statements about ProMetic’s objectives, strategies and businesses that involve risks and uncertainties. These statements are “forward-looking” because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. Such risks and assumptions include, but are not limited to, ProMetic’s ability to develop, manufacture, and successfully commercialize value-added pharmaceutical products, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of ProMetic to take advantage of business opportunities in the pharmaceutical industry, uncertainties related to the regulatory process and general changes in economic conditions. You will find a more detailed assessment of the risks that could cause actual events or results to materially differ from our current expectations in ProMetic’s Annual Information Form for the year ended December 31, 2015, under the heading “Risk and Uncertainties related to ProMetic’s business”. As a result, we cannot guarantee that any forward-looking statement will materialize. We assume no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations. All amounts are in Canadian dollars unless indicated otherwise.

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