MultiCell SAB Taps Scripps Research Institute Immunology Head, Dr. Richard Ulevitch
Tuesday October 12, 12:26 pm ET
[Centrader, nice to see you still following this stock too!
It appears below that our patience may be rewarded in the near future, in my humble opinion. Management seems to have the confidence to bring in those with knowledge, experience, and connections to hopefully help this company expand its potential opportunities to make a real difference for pharmaceutical companies and those that suffer from liver disease, inmo. Thanks for starting this new board. Shawn]
WARWICK, R.I.--(BUSINESS WIRE)--Oct. 12, 2004--MultiCell Technologies, Inc. (MultiCell) (OTCBB:MUCL - News) announced that endotoxin pioneer Richard Ulevitch, Ph.D. has joined the Company's Scientific Advisory Board (SAB). "Dr. Ulevitch is another jewel in the crown of our illustrious Scientific Advisory Board, adding the immunology facet to its current structure," noted Dr. Ron Faris, Senior Vice President, Chief Science Officer and SAB Chairman. The Company's SAB already includes noted scientists Sangeeta Bhatia, M.D., Ph.D.; Douglas Hixson, Ph.D.; Edward Maggio, Ph.D.; Andrew Parkinson, Ph.D.; and Stephen Chang, Ph.D. The SAB guides the company in strategic planning and prioritizes product development and business opportunities.
Dr. Ulevitch is Chairman of the Department of Immunology at The Scripps Research Institute in La Jolla, California. He has advanced the study of the immune system immeasurably by his 30 years of work at Scripps with endotoxins, disease, and the body's tragic response to endotoxins. Ulevitch received his doctorate in biochemistry from the University of Pennsylvania and did post-doctoral training at the University of Minnesota.
"I look forward to helping advance the use of MultiCell's immortalized human hepatocytes as a toxicology screening tool and therapeutic protein manufacturing platform. I am excited by the opportunity the Fa2N4 hepatocyte line may present to help cure liver diseases more cost-effectively," Ulevitch stated.
MultiCell Technologies, Inc. provides non-tumorigenic hepatic (liver) cells and cell lines to pharmaceutical companies for induction studies and toxicity screening for drug discovery. Hepatocytes express drug-metabolizing enzymes that biotransform drugs or substances ingested into the body. Most new drugs fail or are rejected by the FDA due to hepatotoxicity and/or drug-drug interactions; this costs the pharmaceutical industry about $2 billion each year. It costs about $900 million to develop and test a new medicine.
For pricing and delivery information of 6 to 96 well plates or vials, contact MultiCell's marketing and manufacturing licensee, XenoTech, LLC of Lenexa, KS, (913) GET-P450.
MultiCell is also developing biologics for use in diagnostic and therapeutic applications, as well as liver-derived therapeutic proteins which could be used to treat liver-related diseases.
The Company's majority-owned Xenogenics subsidiary owns all rights to the patented Sybiol(TM) synthetic bio-liver device, under development, which is intended to operate optimally with MultiCell's immortalized hepatocytes.
MultiCell's headquarters are at 55 Access Road, Suite 700, Warwick, Rhode Island. For more information about MultiCell and its Xenogenics subsidiary, call 401-738-7560 or see 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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Contact:
MultiCell Technologies, Inc.
Jerry Newmin, 401-738-7560
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Source: MultiCell Technologies, Inc.
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