WOONSOCKET, R.I., May 31, 2011 /PRNewswire/ -- MultiCell Technologies, Inc. (OTC Bulletin Board: MCET) is pleased to announce the issuance of U.S. patent 7,935,528 by the United States Patent and Trademark Office (USPTO) relating to the isolation and use of human liver stem cells to treat liver disease. Under the terms of its license agreement with Rhode Island Hospital, MultiCell Technologies is the worldwide exclusive licensee of U.S. patent 7,935,528.
The patent describes methods to isolate and use human liver stem cells to treat degenerative liver diseases, or inherited deficiencies of liver function. Patients who suffer from severe, irreversible liver disease for which other medical and surgical treatments have failed are often candidates for a liver transplant. Liver stem cells which differentiate into functional mature hepatocytes could help to reconstitute a diseased liver, and may be an alternative approach to whole organ transplants for certain liver diseases.
"We are pleased the USPTO has agreed that our liver stem cells are indeed novel and may lead to important therapeutic applications," said W. Gerald Newmin, Chairman and Chief Executive Officer. "Our efforts to better understand liver stem cell biology, and the role these cells play in chronic liver disease and primary hepatocellular carcinoma, is a major focus of the Company," Mr. Newmin stated.
About MultiCell Technologies, Inc.
MultiCell Technologies, Inc. is a clinical-stage biopharmaceutical company developing novel therapeutics and discovery tools that address unmet medical needs for the treatment of neurological disorders, hepatic disease and cancer. 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 Technologies' 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 predicted size of the interventional cardiology and intravascular stent market and statements regarding the efficacy and safety of the Ideal BioStent. 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 our products as expected, the market for our products will not grow as expected, 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-K for the fiscal year ended November 30, 2009, 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.