MultiCell Signs Collaborative Research Agreement With Pfizer
SAN DIEGO, Nov 15, 2001 /PRNewswire via COMTEX/ -- Exten Industries, Inc. (Exten) (OTC Bulletin Board: EXTI chart, msgs) announced today that its wholly owned subsidiary, MultiCell Technologies Inc. (MultiCell), a cellular engineering and research organization in Warwick, RI, has just signed a Collaborative Research Agreement with Pfizer Inc. (NYSE: PFE chart, msgs). Specific terms were not disclosed.
MultiCell is dedicated to the development and commercialization of hepatic (liver) cells, cell lines, and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular products enable cell transplantation, vaccine development and therapeutic protein production. The company will develop cell based toxicological and drug screening tests for use by the pharmaceutical industry and others.
The agreement with Pfizer involves validation of MultiCell's immortalized liver cells to predict, among other things, the toxicological and therapeutic properties of drug candidates.
"We believe that our cells may profoundly impact the drug discovery paradigm," stated Greg Szabo, acting CEO of MultiCell. We envision that the cell lines provided by MultiCell will facilitate early identification of potentially harmful side effects such as drug-drug interactions. As a result, our technology may ultimately lead to more efficient and cost effective production of new drugs. We believe that Pfizer is the first of many pharmaceutical companies that can benefit from our technology."
Ron Faris, President and CSO of MultiCell commented, "The Company is very enthusiastic to initiate its collaborative studies with Pfizer. We feel that our technology will provide the pharmaceutical industry with a unique and valuable tool for drug discovery."
Exten Industries Inc., through its subsidiaries, develops and commercializes biotechnology based products and medical devices. The company plans to continue the strategic acquisition of medical/technology companies to increase shareholder value.
If you would like to receive press releases via electronic mail, please contact info@exten.com. Press releases and other Exten information are available on Exten Industries, Inc. World Wide Web site: exten.com .
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission including the Company's Annual Report, Quarterly Reports and other periodic filings. These forward- looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
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Source: Exten Industries, Inc.
Contact:
Greg Szabo or Sharon Donahoo of Exten Industries, Inc.,
+1-760-781-3916; or Ron Faris of MultiCell Technologies, +1-401-738-7560
URL: exten.com |
