WOONSOCKET, R.I., Oct. 19 /PRNewswire-FirstCall/ — MultiCell
Technologies, Inc. (OTC Bulletin Board:
MCET) and its majority owned subsidiary, Xenogenics
Corporation, are pleased to announce the acquisition of the
Ideal™ BioStent assets by Xenogenics Corporation from
investment funds managed by Western Technology Investment and
Silicon Valley Bank. Xenogenics Corporation also entered into
a worldwide exclusive license with Rutgers University for rights to
certain intellectual property related to the Ideal™
BioStent.
The multi-billion dollar interventional cardiology and
intravascular stent market remains extremely lucrative, and one of
the most attractive opportunities for medical device companies.
Several analysts predict the 2010 estimated worldwide
interventional cardiology and intravascular stent market to exceed
$4.6 billion, growing 3% to 4% annually. Clinicians, patients
and manufacturers are seeking the next generation of interventional
cardiology and intravascular medical devices which address
long-term safety concerns and improvement of blood vessel health,
while still providing efficacy equivalent to current generation
products.
The Ideal™ BioStent is the only stent to offer a dual-drug
polymer, incorporating salicylate, the active component in aspirin,
directly into the polymer chain. As the polymer degrades,
salicylate is released directly into the vessel wall to provide
anti-inflammatory therapy aimed at reducing stenosis and the
promotion of blood vessel healing.
The Ideal™ BioStent also incorporates the drug Sirolimus
(rapamycin) in its polymer matrix to provide anti-restenotic
therapy similar to today’s commonly used drug-eluting metal stents.
The Ideal™ BioStent’s technology allows for the ability
to layer different combinations of polymers and drugs, enabling the
optimiz
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