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MultiCell Technologies Inc. (MUCL.OB) Announces Licensing Agreement Between Bristol-Myers Squibb Company (BMY) And MultiCell's Licensee, Xenotech


10/19/2005 5:09:51 PM

LINCOLN, R.I.--(BUSINESS WIRE)--May 23, 2005--MultiCell Technologies, Inc. (OTCBB: MCET), a leading supplier of immortalized non-tumorigenic human hepatocytes as pharmaceutical candidate optimization tools announced today that its licensee, XenoTech, LLC, executed a three-year use and propagation agreement with pharmaceutical company Bristol-Myers Squibb (NYSE: BMY). Financial terms were not disclosed. This contract, the first from a major US pharmaceutical company, allows Bristol-Myers Squibb to grow and use MultiCell's immortalized Fa2N-4 hepatocytes for internal testing purposes. MultiCell's patented immortalized non-tumorigenic human hepatocytes are valuable screening tools for pharmaceutical lead candidate optimization.

Read at BioSpace.com


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