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Biotech / Medical : MultiCell Technologies, Inc.
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From: Shawn Donahue9/24/2004 11:37:40 PM
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Ronald Faris, Ph.D., Promoted to Senior Vice President of MultiCell
Thursday September 23, 9:29 am ET


WARWICK, R.I.--(BUSINESS WIRE)--Sept. 23, 2004--MultiCell Technologies, Inc. (MultiCell) (OTCBB:MUCL - News) announced today that Ronald Faris, Ph.D., has been promoted to Senior Vice President. Dr. Faris, who also continues as Chief Science Officer and Chairman of the Company's Scientific Advisory Board, manages all of the science-related activities of the corporation and has assumed a more managerial role in operations.
Dr. Faris, who holds several patents and is widely published, earned his bachelor's degree in biochemistry from Virginia Tech, then his doctorate in nutritional toxicology from Cornell University. From 1982 to 1985, he held a doctorial fellowship at the MD Anderson Science Park Research Center, where he studied the long-term effects of pharmacological exposure on drug metabolism pathways. Dr. Faris moved to Rhode Island in 1985 to investigate the role of stem cells in liver cancer. He is an Associate Professor of Pathology and Pediatrics at Brown University and Rhode Island Hospital. Dr. Faris has been associated with MultiCell since 1999.

Jerry Newmin, Chairman, Chief Executive Officer and President, stated, "This promotion recognizes that Dr. Faris is a key member of the management team and plays a major role in all aspects of the Company, not just research and product development. The day-to-day operations will become increasing complex as the Company grows. We are fortunate to have Dr. Faris share in the added management responsibilities."

MultiCell Technologies, Inc. provides non-tumorigenic functional hepatic (liver) cells and cell lines to pharmaceutical companies. Hepatocytes metabolize or detoxify drugs or substances ingested into the body. MultiCell's hepatocytes are becoming accepted for induction studies and toxicity screening for drug discovery. Drug failures or FDA rejections due to hepatotoxicity and/or drug-drug interactions now cost the pharmaceutical industry an estimated $2 billion each year. According to the FDA, a ten percent improvement in predicting failures before clinical trials could save a pharmaceutical company $100 million in development costs per drug. For pricing and delivery information, contact MultiCell's marketing and manufacturing licensee, XenoTech, LLC of Lenexa, Kan., telephone 913-438-7450.

MultiCell's cellular product expertise also enables production of biologics for use in diagnostic and therapeutic applications, as well as production of liver-derived therapeutic proteins. The Company's majority-owned Xenogenics subsidiary owns all rights to the patented Sybiol® synthetic bio-liver device, under development, which is intended to operate optimally with MultiCell's immortalized hepatocytes.

MultiCell's headquarters are at 55 Access Road, Suite 700, in Warwick, Rhode Island. For more information about MultiCell and its Xenogenics subsidiary, call 401-738-7560 or see www.multicelltechnologies.com.

The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission including the Company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.



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Contact:
MultiCell Technologies, Inc.
Jerry Newmin, 401-738-7560



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Source: MultiCell Technologies, Inc.
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