Navigation Links
MultiCell Technologies To Increase Focus on Therapeutic Candidates
Date:12/26/2007

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 cells to the pharmaceutical industry and holds patents on the Sybiol(R) synthetic bio-liver device and liver-derived adult human stem cells.

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 of MCT-125 and the likelihood of the successful conclusion of current financing and business negotiations. 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 MCT-125 as expected, the market for our products will not grow as expected, the risk that we will not successfully conclude discussions with prospective partners or complete our fund raising efforts 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.


'/>"/>
SOURCE MultiCell Technologies, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. MultiCell Technologies Signs Worldwide Exclusive License Agreement With Corning Incorporated
2. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
3. Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction
4. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
5. BioMaxx Systems Inc. Signs Engagement Letter With Alcofuel Technologies for Provision of an Ethanol Micro-Refinery
6. Amyris Biotechnologies Co-Founder Neil Renninger Named to Technology Reviews Prestigious TR35 List of Top Young Innovators
7. China Medical Technologies to Participate in the Morgan Stanleys 2007 China Medical Corporate Day
8. Pathway Medical Technologies Adds Joe Rafferty as VP, Sales, and Moves To Larger Facility to Accommodate Rapid Growth
9. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
10. Emisphere Technologies, Inc. Appoints Paul Lubetkin as Vice President and General Counsel
11. Microchip Biotechnologies, Inc. Secures Exclusive License to Use New University of Alberta Technology for Developing Microfluidic Devices
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... Raleigh, NC (PRWEB) , ... June 24, 2016 , ... ... find the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings ... here to read it now. , Diagnostic biomarkers are signposts in the blood, ...
(Date:6/23/2016)... /PRNewswire/ - FACIT has announced the creation of ... company, Propellon Therapeutics Inc. ("Propellon" or "the Company"), ... portfolio of first-in-class WDR5 inhibitors for the treatment ... represent an exciting class of therapies, possessing the ... cancer patients. Substantial advances have been achieved with ...
(Date:6/23/2016)...  The Prostate Cancer Foundation (PCF) is pleased to announce 24 ... for prostate cancer. Members of the Class of 2016 were selected from a ... Read More About the Class of 2016 PCF Young Investigators ... ... ...
(Date:6/23/2016)... ... June 23, 2016 , ... STACS DNA Inc., the sample ... the Arkansas State Crime Laboratory, has joined STACS DNA as a Field Application Specialist. ... said Jocelyn Tremblay, President and COO of STACS DNA. “In further expanding our capacity ...
Breaking Biology Technology:
(Date:6/15/2016)... 2016 Transparency Market Research ... Market by Application Market - Global Industry Analysis Size Share ... the report, the  global gesture recognition market  was ... is estimated to grow at a CAGR of ... Increasing application of gesture recognition technology ...
(Date:6/7/2016)... , June 7, 2016  Syngrafii Inc. and ... business relationship that includes integrating Syngrafii,s patented LongPen™ ... project. This collaboration will result in greater convenience ... credit union, while maintaining existing document workflow and ... ...
(Date:6/2/2016)... NEW YORK , June 2, 2016   The ... (Weather), is announcing Watson Ads, an industry-first capability in which ... advertising, by being able to ask questions via voice or ... Marketers have long ... with the consumer, that can be personal, relevant and valuable; ...
Breaking Biology News(10 mins):