Court Orders Hearing to Decide Upon Issues Related to ProMetic's License With Hemosol

Hemosol Corp. (TSX: HML) today confirmed that the Superior Court of Justice of Ontario (the "Court") has ordered that a hearing be held on July 13, 2006 to determine certain issues relating to the licence agreement (the "Licence Agreement") between Hemosol LP, an affiliate of Hemosol Corp. (together "Hemosol") and ProMetic Bioscience Ltd ("ProMetic") an affiliate to ProMetic Life Sciences Inc. (TSX: PLI).

At that time, ProMetic will be asking the Court to determine, amongst other issues, the scope of the License Agreement. ProMetic is convinced that it has respected all its obligations in full compliance with its agreements with Hemosol. ProMetic has solid and well-founded arguments in that regard, and it is looking forward to presenting those arguments and demonstrating to the Court its position when the parties reconvene for the July 13th hearing.

Moreover, it is ProMetic's contention that, should it wish to do so, it has a clear right to terminate the License Agreement. If ProMetic has not done so to date, it has been as a show of good faith towards the Plan Sponsor, and for the sake of accommodating Hemosol during its present business reorganization process.

Concurrent with these discussions, ProMetic has been equally focused on executing upon the rest of its own multi-faceted business plan in order to build value for its shareholders, while supporting the Hemosol reorganization. In that regard, ProMetic will continue to explore all business opportunities capitalizing on its proprietary technology.

About ProMetic Life Sciences

ProMetic Life Sciences Inc. is a biopharmaceutical company specialized in the research, development, manufacture and marketing of a variety of commercial applications derived from its proprietary Mimetic LigandTM enabling technology. This technology is used in large-scale purification of biologics and the elimination of pathogens. ProMetic is also active in therapeutic drug development with the mission to bring to market effective, innovative, lower cost, less toxic products for the treatment of inflammation and cancer. Its drug discovery platform is focused on replacing complex, expensive proteins with synthetic "drug-like" protein mimetics. Headquartered in Montreal (Canada), ProMetic has R&D and manufacturing facilities in the UK and business development activities in the US, Europe, Asia and MENA countries (Middle East and North Africa).

Additional information is available on the Company's website at www.ProMetic.com

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, the Company'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 the Company 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 on page 17 of the Company's Annual Information Form for the year ended December 31, 2005, under the heading "Risk Factors". 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.