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MultiCell Holds Grand Opening at Rhode Island Facilities; Rhode Island Governor Carcieri Was Featured Speaker

Posted on: Friday, 16 September 2005, 09:00 CDT

MultiCell Technologies (OTCBB: MCET), whose scientists are known for two key discoveries heretofore not accomplished by other scientists: two patents on ADULT human liver stem cells and functional immortalized non-tumorigenic liver cells, held a grand opening ceremony Thursday, September 15 to commemorate the grand opening of its Rhode Island facilities. Since settling into its new laboratory facilities and offices at 701 George Washington Highway in Lincoln, MultiCell has added additional equipment and technical and administrative staff.

Jerry Newmin, Co-Chairman and CEO, introduced the VIPs, officers, board members, management and employees and gave a brief history of the Company.

Rhode Island Governor Donald Carcieri was the guest of honor. Lincoln's Town Administrator, Sue Sheppard, her assistant, Barbara Russo, and Charlie Hawkins from Senator Chaffee's office also attended.

"Since opening its doors here in 1995, MultiCell Technologies has enjoyed a tradition of excellence," Governor Carcieri said. "This company is known for pushing new frontiers in the field of biotechnology. The research you conduct will help people throughout the world lead healthy lives. My administration is committed to supporting the growth of biotech businesses like MultiCell Technologies."

Mr. Newmin stated in conclusion of the event, "From this great lab space, MultiCell is entering the therapeutic arena. Our scientists are working in what is now our in-house therapeutic development and testing lab. Our new quest is for therapeutic products based on sound science that can be brought to clinical trials affordably, representing opportunities for revenues and enhanced shareholder value. We recently formed MultiCell Immunotherapeutics, a new subsidiary, and acquired a possible Type I diabetes treatment which has shown success in initial animal testing. We have just received two therapeutic grants, one for Type I diabetes and another for a therapeutic protein treatment. We also intend to use our liver stem cell experience to develop treatments for liver, eye and heart diseases and are in discussions with potential colleagues with intellectual property in those areas, which also represent large markets with unmet needs."

About MultiCell Technologies, Inc.

MultiCell Technologies is a leading adult stem cell company and supplier of immortalized cell lines validated for drug discovery applications. With its subsidiary MultiCell Immunotherapeutics (MCTI), MultiCell intends to commercialize new therapeutics for the treatment of degenerative neurological disease, metabolic and endocrinological disorders and more. MultiCell holds key patents relating to novel strategies for the isolation of adult human liver cells, and cell clusters or doublets as well as additional patents in the areas of stem cell technology, the Sybiol(TM) synthetic bio-liver therapeutic liver assist device, and immortalized human hepatocytes. MultiCell's stem cells are derived from adult tissues which avoids the ethical and contamination issues associated with embryonic stem cells. MultiCell's headquarters and research laboratories are at 701 George Washington Highway, Lincoln, Rhode Island 02865. For more information about MultiCell see www.multicelltech.com.

Caution Regarding Forward-Looking Statements

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," 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 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 we face, see documents we file with the SEC, including our Report on Form 10-KSB for the fiscal year ended November 30, 2004 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 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: Business Wire

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