MultiCell Lines Introduced in Philadelphia and Tokyo
WARWICK, R.I.
MultiCell Technologies Inc.
Ron Faris, Chief Science Officer
or
Jerry Newmin, Chairman, CEO and President
401-738-7560
MultiCell Technologies Inc. (the Company) (OTCBB:EXTI) announced further public presentations of the Company's patented cell lines this week.
Dr. Andrew Parkinson, founder and chief executive officer of XenoTech LLC of Lenexa, Kan., the Company's licensee, presented "Immortalized Hepatocytes: A New In Vitro Approach to Early Compound Screening" in the Break-Through Technologies Session of the Cell Based Assays for HTS Symposium in Philadelphia, Pa. May 18, 2004. Dr. Parkinson's talk discussed MultiCell's new human hepatocyte line and its potential to solve the supply and inter-individual variability issues that restrict the use of human hepatocytes for candidate comparisons in preclinical metabolism, toxicity and induction studies, stating that its unlimited supply assures long-term reproducibility and scheduling convenience in utilizing this breakthrough technology.
XenoTech LLC is also exhibiting at the 3rd International Bio Expo Japan 2004 held together with INTERPHEX Japan in Tokyo May 19-21.
XenoTech provides drug metabolism and drug-drug interaction studies to pharmaceutical and chemical companies worldwide. In support of this type of research, XenoTech offers antibodies against Cytochrome P450's, hepatocytes, hepatic and extra-hepatic microsomes, S9, recombinant CYPs and bDNA probe sets. Dr. Parkinson founded XenoTech in 1994 to provide products and contract research services to optimize the discovery, development and approval of drugs, food additives, nutraceuticals, agrochemicals, cosmetics and fragrances. XenoTech's products and services deliver information recommended by the US Food & Drug Administration to predict inter-individual variation in safety and drug efficacy and to explain adverse reactions.
Dr. Andrew Parkinson, as previously announced, will be a featured speaker at the 7th Annual Conference on Drug-Drug Interactions to be held in San Diego, Calif. from June 14-16, 2004. Dr. Parkinson is also scheduled to speak at MultiCell Technologies' recently-announced Shareholders' meeting, scheduled for June 16, 2004 in San Diego to coincide with the conference.
MultiCell Technologies Inc. provides patented, immortalized non-tumorigenic hepatic (liver) cell lines to pharmaceutical companies for drug discovery and toxicity tests. Hepatocytes metabolize or detoxify drugs or substances ingested into the body. Drug failures or FDA rejections due to hepatotoxicity and/or drug-drug interactions now cost the pharmaceutical industry around $2 billion each year. According to Tufts University's Center for Study of Drug Development, it costs $897 million to develop and test a new medicine. MultiCell is also developing cell-based toxicological and drug screening tests plus biologics for use in diagnostic and therapeutic applications for liver dysfunction and disease. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Such proteins could ultimately be used to treat a number of liver related diseases such as hemophilia, primary immune deficiencies and emphysema.
MultiCell's majority-owned subsidiary, Xenogenics Corp., is developing the patented Sybiol(R) synthetic bio-liver device, which is intended to operate optimally with MultiCell's immortalized hepatocytes. Hundreds of millions of people now suffer from liver disease worldwide; treatment options, especially donor organs, remain severely limited. Treatment of liver disease by such a device has been estimated to be a $2 billion market.
MultiCell's corporate and research headquarters are at 55 Access Road, Suite 700, Warwick, R.I., 02886, 401-738-7560. For more information visit www.exten.com and www.multicelltechnologies.com.
Additional Information: The EXTI stock ticker symbol remains the same until further notice. Assignment of a new symbol is expected as a result of the recent corporate consolidation and name change.
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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