Message #60 From:
Stock News Bot Date: November 29, 2006 03:30:00 AM
MCET News MultiCell Technologies Obtains Patent Protection in Several European Countries for Treatment of Autoimmune Diseases
SAN DIEGO--(BUSINESS WIRE)--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.
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.
