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Exten Industries' (EXTI) Subsidiary MultiCell Technologies Inc. (EXTI) Captures Stem Cell License


10/19/2005 5:09:31 PM

WARWICK, R.I.--(BUSINESS WIRE)--Dec. 15, 2003--Exten Industries Inc. (Exten) (OTCBB:EXTI - News) announced today that its wholly owned subsidiary, MultiCell Technologies Inc. (MultiCell) has acquired the exclusive license rights worldwide to patented stem cell technologies from Rhode Island Hospital, a member of Lifespan Corporation. The technology was developed by Dr. Ronald A. Faris, MultiCell president and chief scientific officer, and a director of research with Rhode Island Hospital.

Dr. Faris announced "This technology permits the identification and isolation of adult liver stem cells, thus avoiding the controversies often associated with embryonic stem cells. MultiCell plans to initially exploit the technology to develop non-genetically engineered cell lines for drug discovery applications; however, we envision that stem cell transplantation will one day play an important role in the clinical management of metabolic liver disorders," he added.

Exten's chairman and CEO, Jerry Newmin, stated, "Acquiring this novel technology signifies our company's long-term R&D commitment to develop cell-based products and therapies for patients with liver disease. Access to this technology enables our company to develop a next generation of functional hepatocytes. It is possible that in the future, stem cell derived hepatocytes may be used to catalyze our Sybiol® Synthetic Bio-liver device being developed by our subsidiary, Xenogenics. "

The transplantation of living cells for the treatment of medical disorders is a rapidly growing market that is estimated to reach $30 billion by 2010, according to a recent report entitled "Cell Therapy: Technologies, Markets, & Opportunities" published by Drug & Market Development Publications.

About Exten

Exten Industries Inc., through its subsidiaries Xenogenics Corp. and MultiCell Technologies Inc., develops medical devices and supplies liver cell products to the pharmaceutical industry. Xenogenics is developing the Sybiol® synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick. For more information about Exten and its subsidiaries, visit www.exten.com, and www.multicelltechnologies.com.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

-------------------------------------------------------------------------------- Contact:
MultiCell Technologies Inc.
Ronald A. Faris, Ph.D., President and Chief Scientific
Officer, 401-738-7560

-------------------------------------------------------------------------------- Source: Exten Industries Inc.


Read at BioSpace.com

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