LINCOLN, R.I.--(BUSINESS WIRE)--July 20, 2006--MultiCell Technologies Inc. (OTCBB:MCET - News), a developer of therapeutics for the treatment of degenerative neurological diseases, metabolic and endocrinological disorders, and infectious diseases, announced that on Friday, July 14, 2006, it has raised $1.7 million in gross proceeds in a private placement of 17,000 shares of convertible preferred stock with 10.5 million warrants to purchase common stock.
