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MultiCell Technologies
Signs Key Formulation and Supply Agreement With Merck KGaA & Co.
Spittal/Drau
Agreement Brings MultiCell Closer to
Initiation of Phase IIb Clinical Trials
SAN
DIEGO, CA--(MARKET WIRE)--Apr 18, 2007 -- MultiCell Technologies, Inc. (OTC
BB:MCET.OB - News) has entered into an
agreement with Merck KGaA & Co. Spittal/Drau Austria for the
formulation and 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).
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 United Kingdom, MCT-125 demonstrated efficacy
in significantly reducing the levels of fatigue in all three types of MS
patients enrolled in the study. MCT-125 demonstrated effectiveness within 4
weeks of the first daily oral dosing. Patients enrolled in the Phase II
trial also reported few if any side effects following daily oral dosing of
MCT-125. The initial trials were conducted by Amarin Corporation plc who
developed the drug as LAX-202.
"We are pleased to
have the opportunity to work with an outstanding company like Merck KGaA
& Co. Spittal/Drau, and look forward to a long-term relationship. This
contract is another key component required for us to commence planned Phase
IIb human clinical trials. We are building a solid foundation for the
future development of this much need therapeutic, and each new agreement
brings this plan closer to reality," stated Dr. Stephen Chang,
President and CEO of MultiCell Technologies.
About Merck KGaA & Co. Spittal/Drau
Merck KGaA & Co.
Spittal/Drau Austria manufactures bulk and finished pharmaceutical products
for third parties, including solid oral dosage forms, semisolids, and
liquid products. Merck KGaA & Co. Spittal/Drau is well known for its
high quality, excellent customer service, pharmaceutical technology
know-how, and optimizing production processes in coordination with its
customers. For more information about Merck KGaA & Co. Spittal/Drau
Austria see http://www.merck-spittal.at.
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 (Wednesday April 18, 9:00 am ET)
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