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MultiCell's Majority Owned Subsidiary Acquires Bioabsorbable Interventional Cardiology Stent Assets
Date:10/19/2010

ents, because of their rigidity, prevent the artery from reacting naturally and make true healing impossible.  As a result, clinician interest is accelerating around the extremely strong potential of bioabsorbable stents to promote vascular healing and return vessels to their natural state.
  • Does not preclude future interventions.  Patients with metal stents may not be able to undergo future procedures, such as bypass surgery.  Biodegradable stents do not have this limitation, and by promoting healing of the vessel wall, bioabsorbable stents may even reduce the likelihood that such future interventions will be necessary.

"We saw a significant opportunity to build upon $20 million in invested capital, since the Ideal™ BioStent has already demonstrated proof of concept in initial human clinical trials", stated W. Gerald Newmin, Chairman and Chief Executive Officer of MultiCell Technologies.

Xenogenics Corporation also licensed rights to a strong intellectual property portfolio covering the Ideal™ BioStent.  This patent estate includes 24 issued patents, and over 65 patent applications with broad claims encompassing interventional cardiology and intravascular bioabsorbable stent design and manufacture.

MultiCell Technologies provided the financing for the acquisition of the Ideal™ BioStent.  MultiCell Technologies increased its ownership position in Xenogenics Corporation to 91.72% as a result of providing the acquisition financing.  Additional information about the transaction can be found on MultiCell Technologies' Form 8K filed with the Securities and Exchange Commission ("SEC").

About Xenogenics Corporation

Xenogenics Corporation is a development-stage medical device company focused on the design of next-generation bioabsorbable stents for interventional cardiology and peripheral vessel applications.  Xenogen
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SOURCE MultiCell Technologies, Inc.
Copyright©2010 PR Newswire.
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