Exten Finalizes MultiCell Acquisition.Business Editors and Health/Medical Writers BIOWIRE2K SAN DIEGO--(BW HealthWire)--Sept. 17, 2001 Exten Industries Inc. (Exten) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :EXTI) announced it has acquired all outstanding shares of MultiCell Associates Inc. (MCA MCA in full Music Corporation of America Entertainment conglomerate. It was founded in Chicago in 1924 by Jules Stein as a talent agency. In the 1960s it bought Decca Records and Universal Pictures, and today it produces films, music, and television shows. ) of Warwick, R.I. and will operate MCA as a wholly-owned subsidiary. MCA owns the rights to certain patented technology for engineering (immortalizing) human and other mammalian liver cells. These non-tumorigenic cells have applications for drug discovery and toxicological testing by the pharmaceutical industry and could perform metabolic functions in liver assist devices. Further, the cells have shown the ability to generate very complex proteins that have a variety of therapeutic and research applications. The company has also developed proprietary culture media, which it will supply to selected cell customers. "We're delighted to finally conclude the MultiCell acquisition. The technical knowledge possessed by the scientists here is extraordinary. The team will continue to operate in Warwick, with Ron Faris holding the position of president and CSO (Chief Security Officer) The person in charge of all staff members who are responsible for promulgating, enforcing and administering security policies for all systems within an enterprise or division. ," said Greg Szabo, Exten president and acting CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MultiCell. "We're proud to have a noted and published hepatic cell and stem cell stem cell In living organisms, an undifferentiated cell that can produce other cells that eventually make up specialized tissues and organs. There are two major types of stem cells, embryonic and adult. expert of Dr. Faris' status on board and we plan to continue the research he has been conducting on adult liver stem cells stem cells, unspecialized human or animal cells that can produce mature specialized body cells and at the same time replicate themselves. Embryonic stem cells are derived from a blastocyst (the blastula typical of placental mammals; see embryo), which is very young ." "This is very gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. for Exten and its shareholders," said Jerry Newmin, Exten CEO. "This acquisition allows us consolidate all our R&D in house and adds a number of potential new products to our business model. The hepatocyte hepatocyte /hep·a·to·cyte/ (hep´ah-to-sit?) a hepatic cell. hep·a·to·cyte n. A parenchymal liver cell. Hepatocyte A liver cell. technology platform at MultiCell is first rate. We expect this technology to broaden our capabilities to develop proprietary research tools and therapeutic treatments for liver disorders. We believe there are numerous opportunities to commercialize the engineered cells as well as the proteins. Thus, with this acquisition, we seek to proceed from a developmental stage to a commercial stage company more rapidly." Exten's majority-owned Xenogenics Corp. subsidiary and newly acquired MCA subsidiary will continue to jointly re-design and develop Xenogenics' Sybiol(R) synthetic bioliver, a liver assist device. The project involves an engineered liver cell line specific to the device. Exten Industries Inc. is at 9620 Chesapeake Drive, Suite 201, San Diego, CA 92123-1324; Web site is http://www.exten.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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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. While going forward with business in hopes of saving lives in the future, Exten extends condolences to all affected by the recent terrorist attacks. |
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