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MultiCell
Signs License Agreement With Eisai Japan to Use Fa2N-4 Cell Line for
Drug Discovery/ADMETOX Applications
SAN
DIEGO, April 24 /PRNewswire-FirstCall/ -- MultiCell Technologies, Inc. (OTC
Bulletin Board: MCET
- News), has executed
a five year licensing agreement with Eisai Co., Ltd. of Tokyo, Japan, one
of the world's top 25 pharmaceutical companies.
MultiCell has granted
Eisai a 5-year nonexclusive license to use MultiCell's Fa2N-4 immortalized
human hepatocyte cells and MFE(TM) culture media for drug discovery/ADMETOX
applications at Eisai's Tsukuba Research Laboratories, located in Japan.
"Eisai has been
using our Fa2N-4 cells and culture media for several years under a
sub-license agreement granted by XenoTech LLC, our previous licensee. Our
new, direct agreement with Eisai is another validation of the value of our
proprietary immortalized cell lines for drug discovery/ADMETOX
applications," stated Dr. Stephen Chang, President and Chief Executive
Officer of Multicell Technologies.
A fundamental
understanding of how the body metabolizes and reacts to drugs will lead to
the creation of safer and more effective medicines. Cytochrome P450s (CYPs)
are a family of phase I liver enzymes that catalyze the primary metabolism
of most drugs. CYP3A4 is responsible for the metabolism of at least 40% of
all ingested drugs. Pharmacological induction of CYPs and related drug
metabolizing enzymes often leads to drug-drug interactions and/or altered
metabolism and clearance of the drug itself. MultiCell's immortalized human
hepatocytes, when used in combination with the Company's serum-free MFE(TM)
culture medium, are the ideal liver cells to reliably predict CYP induction
and hepatotoxicity. MultiCell's immortalized human hepatocyte cell lines
continue to express multiple inducible CYPs, including CYPs 1A2, 2B6, 2C9
and 3A4.
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: PR Newswire (Tuesday April 24, 8:00 am ET)
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