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MCET (.37) Announces Milestone Patent Issued by European Patent Office on Treatments for Autoimmune Diseases
Business Wire "US Press Releases "
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 that the European Patent Office has granted the Company a key patent covering its next-generation technology targeting multibillion-dollar medical marketplace segments, including a range of serious autoimmune disorders such as diabetes and multiple sclerosis.
The patent issuance is a significant validation of the Company's business strategy to obtain broad, worldwide protection of its advanced immune modulation technologies and intellectual property. The Company recently announced that its IP portfolio crossed the key threshold of more than 50 issued or pending patents.
The patent, "Compositions for Treating Autoimmune Disease," leverages MultiCell's proprietary platform technologies in the science of modulating the human immune response to treat a range of serious diseases.
"We believe that this patent further validates our scientific and business model to develop drug candidates that work with the body's own immune system to deliver an entirely new generation of disease-specific immunotherapeutics," said Dr. Stephen Chang, President and Chief Executive Officer of MultiCell. "We have already advanced our products into human clinical trials where researchers have reported extremely encouraging results showing the efficacy of our drug candidates to treat patients with MS and other conditions that desperately need new and substantially better therapeutic options."
MultiCell is an innovator in the science of modulating the human immune system with unique platform technologies, focusing on the development of breakthrough drugs to treat serious autoimmune diseases, including multiple sclerosis and type-1 diabetes, as well as influenza. Currently, the market for therapies that address these diseases is estimated at $8 billion worldwide.
The newly issued patent is related to compositions for the effective endocytic presentation of immunosuppressive factors that are useful for the treatment of various disorders, such as autoimmune 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. The Company's lead drug candidates include drugs to treat MS-related chronic fatigue, relapsing-remitting multiple sclerosis, type-1 diabetes and infectious disease. 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.
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 plans to develop new drug candidates, plans to expand intellectual property holdings, the ability of MultiCell to accelerate any of its therapeutic programs, or the ability of MultiCell to commercialize any drug candidates. 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 statements 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 assumes no obligation and expressly disclaims 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.
Source: MultiCell Technologies, Inc.
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