MultiCell Opens New Research Facilities to Support Expanding Research Programs
SAN DIEGO and WARWICK, R.I., April 2 /PRNewswire-FirstCall/ -- Exten Industries Inc. (Exten): (OTC Bulletin Board: EXTI) announced today that MultiCell Technologies, its wholly owned subsidiary developing liver cell- based products for commercial and therapeutic applications, has signed a new lease for 10,000 square feet of office, laboratory and manufacturing space. This expansion will expedite commercial production of its immortalized hepatic cell lines and therapeutic protein products and technology. The new, modern facility, located at 222 Metro Center Boulevard, Warwick, Rhode Island will also facilitate increases in MultiCell's research programs which are aimed at multi-billion dollar markets.
"We are expanding a number of existing research programs and developing new innovative cell-based technologies for liver support and liver tissue regeneration," said Ron Faris, President and CSO. "Our new facility will enable us to keep pace with industry growth and consolidate our research and product development divisions at one location while we continue to expand the scope of work."
The economic environment of Rhode Island is conducive to business growth and has stimulated the spin-off of MultiCell and numerous other progressive biotechnology companies from academia, while also attracting industry leaders to the area. Dr. Faris states, "The expansion of MultiCell Technologies in Warwick will facilitate the company's ability to develop strategic partnerships with pharmaceutical companies located throughout the Northeast."
MultiCell Technologies applies its expertise in human liver cells to develop cell-based products for commercial and therapeutic applications. MultiCell's immortalized human liver cells for drug discovery, toxicology and pharmacogenomic studies may offer leading pharmaceutical companies a more effective alternative to the primary animal cells widely used for these studies today.
Greg Szabo, Exten President and MultiCell Technologies CEO stated, "The expected demand for MultiCell's products requires that we add significantly to our manufacturing capability. By securing new laboratory and manufacturing space, MultiCell is better able to advance our existing immortalized cells, expand our technologies for cell-based therapeutic protein development, and continue important research and development of adult liver stem cells."
Exten Industries Inc., through its two 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. To receive press releases via electronic mail, please contact info@exten.com. Information and press releases relating to Exten Industries can be found on our Web site at exten.com . More information on MultiCell Technologies, a wholly owned subsidiary of Exten, is available at www.multicelltechnologies.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.
CO: Exten Industries, Inc.; MultiCell Technologies
ST: California, Rhode Island
IN: MTC BIO OTC
SU:
04/02/2002 09:30 EST prnewswire.com |
