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MultiCell
Technologies Signs Key Supply Agreement With Lundbeck Pharmaceuticals Italy S.p.A.
SAN DIEGO, CA--(MARKET
WIRE)--Apr 9, 2007 -- MultiCell Technologies, Inc. (OTC BB:MCET.OB - News) has entered into a long-term agreement
with Lundbeck Pharmaceuticals Italy S.p.A. for the supply of one of the
active components of MCT-125, MultiCell's Phase IIb drug for the treatment
of chronic fatigue in patients with multiple sclerosis (MS).
Multiple sclerosis is
an autoimmune disease in which immune cells attack and destroy the myelin
sheath protecting neurons in the brain and spinal cord. About two million
people worldwide are afflicted with MS, and an estimated 10,000 new MS
cases are diagnosed yearly in the USA. Over 75% of MS sufferers report
chronic fatigue, and 50% to 60% report chronic fatigue as the worst symptom
of their disease. Chronic fatigue severely affects an individual's quality
of life. In approximately 30% of MS patients, chronic fatigue is the first
symptom, and there is no FDA-approved treatment available for this disease.
In a 138-patient,
multi-center, double-blind placebo controlled Phase II clinical trial
conducted in the UK by Amarin, MCT-125 (then known
as LAX-202) demonstrated efficacy in significantly reducing the levels of
fatigue in MS patients enrolled in the study. MCT-125 demonstrated
effectiveness within 4 weeks of the first daily oral dosing, and showed
efficacy in all MS patient sub-populations including relapsing-remitting,
secondary progressive and primary progressive. Patients enrolled in the
Phase II trial conducted by Amarin also reported few if any side effects
following daily oral dosing of MCT-125.
"We are pleased
to have the opportunity to work with an outstanding company like Lundbeck
Pharmaceuticals Italy, and look forward to a long-term relationship. This
contract is enabling, and helps us advance MCT-125 toward commencement of
our planned Phase IIb human clinical trials," stated Dr. Stephen
Chang, President and CEO of MultiCell Technologies.
About Lundbeck
Lundbeck
Pharmaceuticals Italy S.p.A. is an FDA-inspected manufacturer of
proprietary APIs and cGMP intermediates for the pharmaceutical, veterinary,
and life science industries. Lundbeck Pharmaceuticals Italy offers contract
manufacturing services to many large multinational pharmaceutical
companies. Lundbeck Pharmaceuticals Italy covers the entire life cycle of
pharmaceutical products: Product Launches -- new chemical entities
development and production by novel chemistry; and, mature products -- APIs
and intermediates manufacturing by established/optimized chemistry.
About MultiCell
Technologies
MultiCell
Technologies, Inc. is developing first-in-class drugs based on advanced
immune system modulation technologies, and is an integrated
biopharmaceutical company committed to the development of breakthrough
therapeutics based on a portfolio of therapeutic candidates and patented
drug development technologies. MultiCell's drug development program focuses
on modulation of the immune system.
MultiCell's
therapeutic pipeline includes:
MCT-125
a Phase IIb drug for the treatment of chronic fatigue in MS
patients.
MCT-175
for the treatment of relapsing-remitting MS.
MCT-275
for the treatment of juvenile diabetes.
MCT-465
for the treatment of virus infection and cancer.
MCT-475
for the treatment of colorectal cancer.
The Company also
holds unique cell-based technology for use in drug discovery screening
applications, and is a leading producer of the cell lines needed by the
pharmaceutical industry to develop new drugs. For more information about
MultiCell Technologies, please visit http://www.multicelltech.com.
Caution Regarding
Forward-Looking Statements
Any statements in
this press release about MultiCell's expectations, beliefs, plans,
objectives, assumptions or future events or performance are not historical
facts and are forward-looking statements for purposes of the Private
Securities Litigation Reform Act of 1995 (the "Act"). These
statements are often, but not always, made through the use of words or
phrases such as "believe," "will," "expect,"
"anticipate," "estimate," "intend,"
"plan," "forecast," "could," and
"would." Examples of such forward-looking statements include statements
regarding the timing, design, scope, and anticipated results of our
clinical development programs. MultiCell bases these forward-looking
statements on current expectations about future events. They involve known
and unknown risks, uncertainties and assumptions that may cause actual
results, levels of activity, performance or achievements to differ
materially from those expressed or implied by any forward-looking
statement. Some of the risks, uncertainties and assumptions that could
cause actual results to differ materially from estimates or projections in
the forward-looking statement include, but are not limited to, the risk
that we might not achieve our anticipated clinical development milestones,
receive regulatory approval, or successfully commercialize our products as
expected, the market for our products will not grow as expected, and the
risk that our products will not achieve expectations. For additional
information about risks and uncertainties MultiCell faces, see documents
MultiCell files with the SEC, including MultiCell's report on Form 10-KSB
for the fiscal year ended November 30, 2006, and all our quarterly and other
periodic SEC filings. MultiCell claims the protection of the safe harbor
for forward-looking statements under the Act and each assume no obligation
and expressly disclaim any duty to update any forward-looking statement to
reflect events or circumstances after the date of this news release or to
reflect the occurrence of subsequent events.
Contact:
MultiCell Technologies, Inc.
Dr. Stephen Chang, 858.200.0598
MCETInvestor@MultiCelltech.com
Source: Market Wire (Monday April 9, 9:30 am ET)
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