Agreeing on liver cells

- Last updated on GMT

Related tags: Pharmacology

Exten Industries reported today that its wholly owned subsidiary,
MultiCell Technologies, a liver cell engineering and research
organisation in Warwick, US has just signed a nonexclusive license
agreement with a major pharmaceutical company.

Exten Industries reported today that its wholly owned subsidiary, MultiCell Technologies, a liver cell engineering and research organisation in Warwick, US has just signed a nonexclusive license agreement with a major pharmaceutical company.

Under terms of the agreement, the pharmaceutical company may use two of MultiCell's proprietary liver cell lines for a variety of internal research programs for 15 years in exchange for an undisclosed amount and periodic renewal fees.

"Our cells may profoundly impact the drug discovery paradigm,"​ stated Greg Szabo, acting CEO of MultiCell. "We envision that the cell lines we provide will facilitate early identification of potentially harmful side effects such as drug-drug interactions. We believe that many other pharmaceutical companies can benefit from our technology."

Ron Faris, president and CSO of MultiCell, commented: "The company is pleased to conclude this agreement. We feel that our technology will provide the pharmaceutical industry with a unique and valuable tool for drug discovery. Ultimately, our technology may lead to vastly more efficient and cost-effective development of new drugs."

Exten Industries develops and commercialises biotechnology-based products and medical devices and MultiCell develops and commercialises hepatic (liver) cells, cell lines, and biologics for use in diagnostic and therapeutic applications.

Related topics: Regulatory & Safety, QA/QC

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