Replies to post #48 on Exten Industries (fka BB: EXTI)

[Patricia_1]

News 2/3/03 MultiCell Technologies Signs License Agreement
with Major Pharmaceutical Company
Monday February 3, 8:05 am ET


WARWICK, R.I.--(BUSINESS WIRE)--Feb. 3, 2003--Exten Industries Inc. (Exten) (OTCBB:EXTI - News) announced today that its wholly owned subsidiary, MultiCell Technologies Inc. (MultiCell), a liver cell engineering and research organization in Warwick, 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 Inc., through its subsidiaries, develops and commercializes biotechnology-based products and medical devices. MultiCell is dedicated to the development and commercialization of hepatic (liver) cells, cell lines, and biologics for use in diagnostic and therapeutic applications. In addition to selling hepatocytes to the pharmaceutical industry, the company will develop cell-based toxicological and drug screening tests. MultiCell's cellular products will also enable production of liver-derived therapeutic proteins.

Past news and more information are available on Exten's Web site, 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 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