MultiCell Gains Japanese Pharma Licensee for Its Proprietary Hepatocytes
Monday October 18, 8:03 am ET
WARWICK, R.I.--(BUSINESS WIRE)--Oct. 18, 2004--Japanese pharmaceutical corporation Eisai Co., Ltd. signed a three-year use and propagation license for MultiCell hepatocytes with Nosan Corporation, an exclusive sub-licensee in Japan of XenoTech, LLC, the exclusive licensee for proprietary hepatocyte cell lines from MultiCell Technologies, Inc. (OTCBB:MUCL - News).
This six-figure ($US) contract allows Eisai to grow and use Fa2N-4 hepatocytes for internal testing purposes at one site. Human liver cells for laboratory use are scarce in Japan, and are invaluable as a predictable indicator for high throughput screening of potential therapeutic compounds for drug discovery.
Eisai Co., Ltd. is a research-based human health care company that discovers, develops and markets products in over thirty countries worldwide. Eisai focuses on areas of expertise in neurology and gastrointestinal diseases, as well as oncology. The company is also expanding research into new frontier areas in order to establish future specialty fields. In the fiscal year ended March 31, 2004, research and development spending totaled 69.0 billion yen or 18.3% of consolidated net sales.
MultiCell CEO, Jerry Newmin, said, "We are gratified with this order from such a respected firm and to see XenoTech's international marketing efforts begin to bear fruit. We believe other big pharmas will need to follow suit for competitive reasons, and several are now evaluating our cell lines for use in drug discovery." He added, "It is our hope that the use of MultiCell's immortalized hepatocytes in testing drug candidates will help prevent the long-term expense and possible danger to patients of recalled drugs."
MultiCell Technologies, Inc. provides non-tumorigenic functional hepatic (liver) cells and cell lines to pharmaceutical companies for induction studies and toxicity screening for drug discovery. Hepatocytes express drug-metabolizing enzymes which bio-transform 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 an estimated $2 billion each year. It costs about $900 million to develop and test a new medicine.
Dr. Andrew Parkinson, XenoTech CEO, stated, "With the challenges presented in shipping freshly-prepared hepatocytes overseas, we are pleased that this major pharmaceutical company is making such a firm commitment to MultiCell's novel cell line. This is a milestone for gaining industry acceptance of this new technology in drug discovery and development research applications worldwide."
MultiCell's cellular product expertise also enables production of biologics for use in diagnostic and therapeutic applications, as well as production of liver-derived therapeutic proteins. The Company's majority-owned Xenogenics subsidiary owns all rights to the patented Sybiol(TM) synthetic bio-liver device. MultiCell's immortalized hepatocytes are hoped to operate optimally with any working bio-liver device and thus facilitate serving as a bridge for patients waiting for liver transplants, and as a treatment option for chronic liver disease.
MultiCell's headquarters are at 55 Access Road, Suite 700, in Warwick, R.I. For more information about MultiCell and its Xenogenics subsidiary, call 401-738-7560 or see www.multicelltechnologies.com. For pricing and delivery information for 6- to 96-well plates or vials, contact MultiCell's marketing and manufacturing licensee, XenoTech, LLC of Lenexa, Kan., telephone 913-GET-P450.
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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