Stephen Chang, Ph.D. resigns; W. Gerald Newmin, Chairman, appointed Interim
Chief Executive Officer and President
LINCOLN, R.I., Dec. 26 /PRNewswire-FirstCall/ -- MultiCell Technologies, Inc. (OTC Bulletin Board: MCET), announced that Stephen M. Chang, Ph.D. has resigned as President and Chief Executive Officer to pursue other interests. W. Gerald Newmin, the Company's Chairman, will be Interim President and Chief Executive Officer until the Company identifies a permanent replacement.
Mr. Newmin stated, "We thank Dr. Chang for his contributions to the Company, and are pleased that he will continue as both a director and member of the scientific advisory board."
"As we enter 2008, our initial efforts will be on fund raising efforts, and advancing MCT-125 in our planned Phase IIb trial," said Mr. Newmin. "MultiCell's lead drug candidate, MCT-125, for the treatment of primary multiple sclerosis-related fatigue, has demonstrated efficacy in human clinical trials, and remains one of the key assets of the company. Our strong preclinical therapeutic product pipeline has helped to attract the interest of larger pharmaceutical and biotechnology company prospective partners. Another goal in 2008 is to conclude our current negotiations and enter into co- development agreements with one or more partners," noted Mr. Newmin.
The foregoing event is further described in a Current Report on Form 8-K that MultiCell Technologies filed on December 26, 2007 with the Securities and Exchange Commission.
MultiCell Technologies, Inc. is a biopharmaceutical company developing
new therapeutics including:
MCT-125 for the treatment of primary fatigue in MS patients.
MCT-175 for the treatment of relapsing-remitting MS.
MCT-465 for the treatment of TLR3 positive breast cancers.
MCT-475 for the treatment of TLR3 positive cervical cancers.
MultiCell also sells and/or licenses immortalized human liver ce
|SOURCE MultiCell Technologies, Inc.|
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