Wednesday, November 29, 2006
MultiCell Technologies Obtains Patent Protection in Several European Countries for Treatment of Autoimmune Diseases
SAN DIEGO--(BUSINESS WIRE)--Nov 29, 2006 - MultiCell Technologies, Inc. (OTCBB:MCET), developing first-in-class drugs based on advanced immune system modulation and other proprietary technologies, today announced it has obtained patent protection for their latest issued European patent in several countries, including France, Germany, Switzerland, U.K., Ireland, Belgium, Luxembourg and Monaco. This patent covers next generation technology from MCET, targeting multibillion-dollar medical marketplace segments, including a range of serious autoimmune disorders such as type-1 diabetes and multiple sclerosis.
The patent, which was issued last month by the European Patent Office, is a milestone validation of the Company's business strategy to obtain broad, worldwide protection of its advanced immune modulation technologies and intellectual property. The patent has helped push the Company's IP portfolio past the 70 issued or pending patent threshold.
MultiCell is leveraging its breakthrough technology platforms to develop a new generation of therapeutic candidates which stimulate or suppress the immune system to treat such conditions as multiple sclerosis, type-1 diabetes, virally caused cancers, and infectious disease.
"From its inception, MultiCell has been committed to competing on the international stage," said Dr. Stephen Chang, Chief Executive Officer of MultiCell Technologies. "We believe the issuance of the patent by several European nations further validates our technology and continues to build value for our shareholders."
The patent, "Compositions for Treating Autoimmune Disease", leverages MultiCell's proprietary platform technologies for modulating the immune response to treat a range of serious diseases.
The newly issued patent is related to compositions for the effective presentation of immunosuppressive factors that are useful for the treatment of various disorders. The Company's technology platforms include Toll-like Receptor signaling and T-cell targeting to modulate both the innate and adaptive immune systems. These technologies enable the creation of advanced drug candidates that stimulate or suppress the immune system via disease-specific targeting.
About MultiCell Technologies, Inc.
MultiCell Technologies, Inc. is an integrated biopharmaceutical company committed to the development of breakthrough therapeutics based on a portfolio of therapeutic candidates and patented drug development technology. MultiCell's drug development program is focused on modulation of the immune system. MultiCell's therapeutic pipeline includes drug candidates some of which are in various advanced stages of human clinical trials. These therapies include:
-- MCT-125 for the treatment of chronic fatigue in MS patients. MCT-125 completed a Phase II clinical trial and demonstrated significant efficacy in reducing chronic fatigue in MS patients. There is no drug specifically approved for the treatment of chronic fatigue in MS patients anywhere in the world.
-- MCT-175 for the treatment of relapsing-remitting MS. MCT-175, in preclinical development for the treatment of relapsing-remitting MS, targets disease specific autoaggressive T-cells that destroy the myelin sheath of nerve cells. MCT-175 successfully ameliorated the disease in animal models.
-- MCT-275 for the treatment of type-1 diabetes. MCT-275, in preclinical development, targets disease-specific autoaggressive T-cells that destroy insulin producing cells in the pancreas. MCT-275 completely reversed the type-1 diabetic phenotype and prolonged life in animal models.
-- MCT-465 in an adjuvant therapy for the treatment of virus infection and cancer. MCT-465 in preclinical studies successfully reduced pulmonary influenza virus levels 1,000-fold in animal models, and has demonstrated effectiveness in reducing virus levels of HIV and HCV in animal models. MCT-465 in preclinical studies successfully eliminated certain types of tumors in animal models.
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 biotechnology industry to develop new drugs and therapeutics.
For more information about MultiCell Technologies, please visit http://www.MultiCelltech.com. For investor information about MultiCell, please visit http://www.trilogy-capital.com/tcp/multicell. For current stock price quotes and news, visit http://www.trilogy-capital.com/tcp/multicell/quote.html. To view the Company's Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/multicell/factsheet.html. To listen to an archived investor conference call, visit http://www.trilogy-capital.com/tcp/multicell/conference.html.
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 developing products that address unmet medical needs. 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 lead drug candidates 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, 2005, 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.
MultiCell Technologies, Inc.
Dr. Stephen Chang, 619-743-3806