WOONSOCKET, R.I., Feb. 16, 2012 /PRNewswire/ -- Xenogenics Corporation, a subsidiary of MultiCell Technologies, Inc. (OTC Bulletin Board: MCET) has exclusive license rights to a polyanhydride compounds drug delivery patent recently granted in Canada.
The patent was granted to Rutgers University this July for polyanhydrides which link low molecular weight drugs containing a carboxylic acid group and an amine, thiol, alcohol or phenol group within their structure into polymeric drug delivery systems. The patent also covers methods of producing polymeric drug delivery systems via these polyanhydride linkers and methods of administering low molecular weight drugs to a host via the polymeric drug delivery systems.
Xenogenics Corporation has exclusively licensed this patent from Rutgers University and believes it has applications in the company's coated cardiac stent business and other therapeutic applications which may be attractive to the pharmaceutical industry.
Xenogenics Corporation is a majority-owned subsidiary of MultiCell Technologies, Inc., which is developing novel therapeutics and discovery tools that address unmet medical needs. For more information about Xenogenics Corporation and MultiCell Technologies, please visit http://www.xenogenicscorp.com and http://www.multicelltech.com.
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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". 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 that MultiCell files with the Securities and Exchange Commission, including MultiCell's report on Form 10-K for the fiscal year ended November 30, 2010, and all of MultiCell's quarterly and other periodic SEC filings. MultiCell claims the protection of the safe harbor for forward-looking statements under the Act and assumes no obligation and expressly disclaims 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.