Three key words for back-end biotech investors to know . . .

xenobiotics: "Chemical substances that are foreign to the biological system. They include naturally occurring compounds, drugs, environmental agents, carcinogens, insecticide, etc. "

metabolism: "The chemical processes occurring within a living cell or organism that are necessary for the maintenance of life. The processing of a specific substance within the living body".

hepatocyte: "A cell of the liver."

Why are they important to know?
    Before ANY pharmaceutical company or biotech firm can market a new drug (xenobiotic), it must be tested to see how it is metabolized and affects normal living cells and organ systems - first, in the lab, then later, in humans.  While initial lab tests are being conducted on countless drug compounds and variations, drug companies spend hundreds of millions of dollars purchasing extremely high quality animal and human liver cells (hepatocytes), and other cell tissues, etc., usually frozen in some suspension medium. In testing for a drug's possible liver toxicity, lab scientists have heretofore had to rely on frozen human liver cells which can only be used for up to six hours.  Even then, because the cells are in a dying state, they only can yield limited toxicity indications.  EXTI's MutiCell Technology component has developed a proprietary breakthrough process which permits scientists to study a drug's effects on immortalized healthy liver cells which healthily  reproduce and metabolize much as they do in a normal living person.  The market is huge and this is only part of MultiCell and EXTI's technologies, but the first to come to market, so it is our current focus. While privately owned companies compete to supply frozen pig, monkey, rat, rabbit, and frozen human cell lines to the pharmas and biotechs, EXTI's MultiCell trumps them all with their Immortalized Human Liver Cell Lines.  In our opinion, it is indeed the new "Gold Standard" for new drug testing, as heralded by MultiCell's president in a recent press release.  We believe that once researchers incorporate these immortalized cell lines into their testing procedures, MultiCells profits will grow dramatically.  That is why MultiCell's 7-year partnership with XenoTech, LLC is so important and why we are following their activity closely.  XenoTech and its affiliates  are exhibitors at a number of xenobiotic and pharmaceutical conventions here and abroad so MultiCell's technology should quickly gain notice and, based on MultiCell's license to Pfizer, should gain quick acceptance of their product in this huge bio-research market niche.

A Report on Exten Industries (OTCBB:EXTI) 8/29/2003 A special message to biotech investors from Webby. Visitors to our PPHM.NET web site over several years occasionally ask if there are any "super-cheap"  biotechs we especially like -- particularly any "penny stocks" -- with relatively low risk and good upside potential.  Our candid response is "a few we're watching but none that we're willing to discuss or, much less, recommend".  Well, things are beginning to bode extremely well for one in particular that we thought we would share with all visitors to our PPHM.NET web site. For those investors interested in another emerging opportunity in the biotechnology sector, we would call special attention to a company with huge upside potential in the not-too-distant future in our estimation. Its name is Exten Industries, now headquartered in Rhode Island (OTC symbol: EXTI).  As a holding company, Exten has been around for over thirty years and, like most small bio-research entities, has been operating at a loss and funded primarily by stock deals with several venture capital groups.  As the company appears to be on the verge of beginning to generate potentially substantial revenues, we believe now is an appropriate time to take a serious in-depth look before it makes major moves. It has nearly doubled in the past month or two but still trades near a dime. EXTI originally caught our attention four or five years ago for work it is doing on an artificial liver device through a majority owned subsidiary of theirs called Xenogenics.  This proprietary bio-liver is to be used by patients awaiting transplants or those for whom transplants aren't an option.  While this device is currently being refined for clinical trials, the real excitement about EXTI turns out to be a more recently acquired wholly-owned subsidiary of Exten Industries called MultiCell Technologies.  In the process of developing its liver device, Exten Industries had solicited some services of MultiCell which, upon further investigation led to a decision by the company to purchase MultiCell outright.  A very wise decision in our opinion as MultiCell's technologies now elevate EXTI into a biotech sphere potentially worth tens of billions of dollars rather than the 2-to-3 billion dollar market for their bio-liver alone. MultiCell Technologies has developed an exclusive proprietary process for indefinitely growing healthy "immortalized" human liver cells which can be grown quickly in large batches for use by the pharmaceutical industry and research institutions worldwide to expedite drug discovery development and drastically reduce R&D costs.  These immortalized human liver cells function much as they would in living persons and are used by researchers to test toxicity of experimental compounds before expensive and potentially dangerous testing on humans.   The market for these humanized cells is estimated to be in the billions of dollars which has really caught our attention.  In addition, these replicable healthy human cells can produce various proteins, etc., which have the potential to be used and engineered for other therapeutic uses which MultiCell is also investigating. MultiCell recently signed a 15-year agreement to supply these cells to Pfizer Pharmaceuticals and has also just signed another agreement with a premier privately held cellular biotech manufacturing and marketing firm to begin producing and marketing its immortalized human liver cells to other pharmaceutical firms in the U.S., Europe and Japan. In addition, EXTI's MultiCell has received grants from the National Institute of Health to study and develop other therapeutic and research uses of its cell lines which have enormous revenue potential in the tens of billions.  Meanwhile, its human liver cells for toxicology use are just now entering onto the bio-pharmaceutical market and we believe will become the "gold standard" of toxicology testing kits worldwide. As revenues reach the company's bottom line, we anticipate that this "penny stock" will eventually soar from the OTC onto NASDAQ. As EXTI still trades on the over-the-counter market (OTC), the company is not yet on most of Wall Street's radar screens which makes them a great investment opportunity for small investors looking for possible ten-bagger returns or more.  Currently trading in the nine-to-twelve cent range, it is still a classic "penny stock", BUT very soon could be trading in dimes and dollars in our conservative opinion.  Present prices definitely make for minimal downside risk but we believe the price will move dramatically when word gets out on The Street and the revenue stream begins.   Note: We have intentionally focused on Exten's  wholly-owned subsidiary, MultiCell Technologies, in this report rather than their majority-owned subsidiary, Xenogenics, due to the fact that Xenogenic's artificial bio-liver device is still being redesigned for clinical trials.  While we believe this device (trade named "Sybiol®") may undoubtedly capture more of the public's attention it will be several more years (2006) before that happens, assuming all runs smoothly through the arduous FDA process.  Additionally, it's MultiCell's immortalized human liver cell lines and related therapeutic spin-offs that will potentially dominant a vastly larger and far more lucrative market and provide a huge opportunity for multiple licensing and partnering agreements and is also an area which has the attention of the NIH (National Institute of Health). For a more thorough rendering of the company's biotech platforms we encourage investors to visit Exten Industries' and MultiCell's web sites listed beneath the table of "Potential Revenue Estimates" displayed below this article. We think the current price should be in the 30-to-50 cent range, increasing as MultiCell's bottom-line revenues increase. Our realistic 12-month target for this stock is currently in the $0.50 - $1.25 range with 24/36-month targets of $2.50/$5,00 as the company's cell lines become integrated into the drug development process of major pharmaceutical companies.    There are presently about 110 million shares outstanding according to our reading of recent SEC filings. Since some major shareholders owning 5% or more and insiders own almost half the outstanding shares, we estimate the actual active float as around 50 million shares and with current contracts being announced we think this stock should be trading significantly higher soon.

EXTI's XENOGENICS SUBSIDIARY

Exten's other subsidiary, Xenogenics, is working on Sybiol, an artificial bio-liver assist device (similar to kidney dialysis).  Unlike competitor's using porcine (pig) cells extracted from freshly killed animals or packed tumorigenic human cells, the Sybiol will use MultiCell's non-tumorigenic Immortalized Liver Cells in a unique suspension medium.  It is anticipated that the Sybiol will prove far more economical for patients and have other benefits such as no risk of introducing animal diseases into the human population.

Drawing is of a Sybiol prototype.

BioArtificial Liver Assist Devices 
& EXTI/MultiCell's connection to EXTI/Xenogenics.

"Liver disease is the tenth leading cause of death in the U.S.  Currently, the only remedy for acute or end-stage liver failure is orthotopic transplantation. However, with fewer than 5,000 donor livers available each year and 17,000 potential recipients on the waiting list, 60% of patients suffering from liver disease will die before receiving a liver transplant.  The organ shortage is only expected to become worse in coming years as the incidence of Hepatitis C (HCV) infection continues to increase.  Of the 4 million Americans currently infected by HCV, the expectation is that 15% will require a transplant.  Overall, estimates indicate that the number of chronic liver failure patients will increase 3-fold by the year 2010.

MultiCell's scientists have extensive experience in the development and testing of hepatocyte-catalyzed liver assist devices.  MultiCell is currently working with Xenogenics, an Exten Industries Company, to develop an engineered liver cell line specific to the Sybiol™ BioArtificial Liver Assist Device.  The Sybiol BioArtificial Liver System may provide a bridge to transplantation for patients awaiting organ donation or for some patients obviate liver transplantation altogether." - excerpt from MCT's website

Possible "Fast Track" when Sybiol is ready for trials as a medical device?  The law provide for that possibility . . .

President Clinton Signs Bill Intended to Speed Approval of New Drugs

November 21, 1997

    The legislation signed by President Clinton today impacts all activities of the FDA including approval of medical devices and food safety laws. However, a number of provisions are of particular concern to people with serious brain disorders and their families - especially on the issue of access to new psychiatric medications (e.g., new atypical anti-psychotic and new selective serotonin reupdate inhibitors). With each of the provisions noted below, the newer medications of interest to NAMI members are identified for any special treatment under the FDA review process. 

Click here for complete article

---

 
 

UPDATES   -  BACK-END BIOTECH  -  OUR EXTI REPORT
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STOCK CHARTS  -  REVENUE/PRICE SCENARIOS

By: Scott Brassfield, MD, Board Member of EXTI's, Xenogenics - Webby]
21 Aug 2003, 06:34 PM EDT
 Msg. 5678 of 5732 on Raging Bull
(This msg. is a reply to 5665 by stockstudentca.)

Stockstudent, your posting is so misinformed that I feel obligated to respond. As a board member of EXTI subsidiary, Xenogenics, I will limit myself strictly to public information published by ourselves or our new partners.

Xenotech [EXTI's manufacturing & marketing partner - Ed.]  is actually one of the largest, privately held CRO's (contract research organizations) in the US with a reputation for excellence in drug metabolism and safety testing. They are already involved in producing and using hepatocyte testing kits involving human and other species' hepatocytes and what they need from us are our well characterized, metabolically active, immmortalized human hepatocytes. Their hepatocyte kits are based on primary cells, which are very hard to come by, and we offer them immortalized, easy to grow with media in vats, cell lines.

Our agreement with them gains us manufacturing capacity without having to build our own factory, an instant sales and marketing staff which already has contacts with the major pharmaceutical companies, administrative support and does so instantly without the huge time and money outlay required of EXTI if we were to do all this ourselves. Our royalties arrangement guarantees at least $18 million during the seven years but with no upper limit plus giving us a quick $1.5 million in very welcome cash. And since Xenotech provides manufacturing, sales, and most admin, this royalty based revenue stream flows, with very little cost, to our bottom line. This leaves Multicell free to do what it does best, research aimed at new revenue producing cell lines and, what we may be most excited about, therapeutic proteins.

Xenotech is an affiliate of Nosan Group, a Japanese company formed in the 1930's, and it is they that have the financial muscle to make this royalties guarantee. They are Japan's largest animal feed manufacturer, they are a public company 20% owned by Mitsubishi, and had gross revenue of about $1 billion last year. With revenues slowly declining during the last 5 years, Nosan boldly adopted a strategy for the 21st century of becoming a world leader in biotech and have recently formed affilliations with three US biotechs, among them Xenotech, plus biotechs in Denmark, Scotland, and Germany.

I am extremely pleased with the opportunity for rapid growth with much lessened financial risk that this agreement brings to EXTI. My advice to you, Stockstudent, is to start doing some homework!

Scott Brassfield, MD  [Click HERE for his latest postings. ]
 
 

PLEASE READ THIS!

From the article . . .
"Although hardly a household name in Kansas City, the company (XenoTech) is known internationally and supports or supplies the 25 largest drug companies in the world."

BUSINESS NEWS ON EXTI PARTNER XENOTECH - CLICK HERE!
Printable Version
 
 

EXTI's new cash cow revenue generator is
MultiCell Technologies' worldwide
manufacturing and marketing partner
for its immortalized liver cell kits,
XenoTech,
a major U.S. bio-research supplier
of cell testing kits with worldwide affiliates.

Andrew Parkinson, CEO, XenoTech
Post-construction 2002 photo of XenoTech's new 20,000 sq.-foot research facility at 16825 W. 116th, Lenexa, KS
which opened last summer.  It replaces a smaller 7,000 sq-ft. facility they used for the prior 8 years.

XenoTech will ,market MultiCell's Immortalized Human Liver Cells in North America
and its well respected European affiliate tebu-bio.

Suppliers
Tebu-bio will distribute in the following countries:

EXTI's MultiCell component will have its Immortalized Human Liver Cell technology promoted to pharma and biotech research entities at upcoming ISSX Conference, October 12th-16th, by its new marketing partner XenoTech.
Here's a quote from the ISSX Conference Brochure (emphasis added):
XenoTech:
  "XenoTech offers an extensive selection of premier quality products in support of drug metabolism and hepatotoxicity research; we consistently meet or surpass our customers’ expectations for cryopreserved human and non-human hepatocytes, hepatic and extra-hepatic fractions from many different species, rCYP enzymes, antibodies to drug metabolizing enzymes and their peptides, and we now offer a new, breakthrough product, immortalized human hepatocytes.
    XenoTech has long enjoyed a reputation for impeccably-executed studies, and we recently added new systems and capacity to speed up delivery of those same excellent results to all phases of candidate selection and development. Our study designs closely conform to the recommendations of the Basel Consensus Conference on Optimizing Drug Development, and the recent publication of the PhRMA Perspective on Conduct of Drug Interaction Studies.
    We are the exclusive North American source of MultiCell’s immortalized human hepatocytes used for both in-house analyses at drug companies and for contract studies at XenoTech, as well as Bactosome rCYPs from Cypex in Dundee, U.K. A recent strategic alliance with Quintiles Transnational in Kansas City, means that scientists can benefit from an unmatched combination of expertise, speed, and convenience in preclinical, and even post-clinical, in-vitro, in-vivo, and ex-vivo studies."

WEBBY NOTE: The conference is being co-chaired by Pfizer and attended by a legion of pharmaceutical and biotech research entities and biotech suppliers..  For more info on the conference, click here.  For more info on ISSX in general, click here.

MultiCell Technologies Signs License Agreement with Major Pharmaceutical Company 
 MONDAY, FEBRUARY 03, 2003 8:03 AM
 - BusinessWire

WARWICK, R.I., Feb 3, 2003 (BUSINESS WIRE) -- Exten Industries Inc. (Exten) (EXTI) 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. 

MultiCell Technologies, Warwick
Ron Faris, 401/738-7560
 

http://www.businesswire.com
 

Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
 

Copyright (C) 2003 Business Wire. All rights reserved

Exten Industries Engages BKF Jurgensen to Manage The Company's Intellectual Property Portfolio
15 Jul 2003, 08:32am ET

SAN DIEGO--(C)--July 15, 2003--BKF Jurgensen has been retained by Exten Industries Inc. (OTCBB:EXTI), based in Warwick, R.I., to manage its intellectual property portfolio and related business matters. BKF Jurgensen will provide patent, transactional, licensing, corporate partnering and strategic planning services for Exten and its subsidiaries, MultiCell Technologies Inc., and Xenogenics Corp.

"BKF Jurgensen's biomedical background and big picture business perspective set it apart from the other firms we considered," said Jerry Newmin, chairman and CEO of Exten. "The importance and value of any life sciences company's IP portfolio cannot be underestimated and must be protected," added Newmin. "With our strong therapeutic protein and liver-cell technologies, we need a firm with extensive industry expertise as well as functional specialization in patents, technology licensing and related issues. We are pleased that BKF Jurgensen has chosen to work with Exten," he continued.

BKF Jurgensen, a division of Blanchard Krasner & French, APC, is a boutique law firm focused on the life sciences industry. With highly specialized attorneys who have themselves served in general counsel and management roles, BKF Jurgensen offers biotech, medical device and pharmaceutical companies savvy legal guidance grounded in an intimate and invaluable understanding of how the business of science operates. Prior to founding BKF Jurgensen, principal Tom Jurgensen worked as in-house counsel to a number of prominent life sciences organizations including The Salk Institute, Molecular Biosystems Inc., and Ligand Pharmaceuticals Inc. Senior associate Jeff Landes was a member of the NIH's AIDS Clinical Trials Group, where he helped to develop many of the anti-retroviral and other related drugs on today's market, prior to getting his law degree. BKF Jurgensen specializes in intellectual property, business and regulatory law. The firm is located at 800 Silverado Street in La Jolla, Calif.

About Exten:

Exten Industries Inc., through its subsidiaries MultiCell Technologies Inc., and Xenogenics Corp., 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 is developing cell-based toxicological and drug screening tests. MultiCell's cellular products enable production of liver-derived therapeutic proteins, and potentially, stem cells. Xenogenics is developing a synthetic bio-liver device, Sybiol(R). For more information, visit Exten's web site, www.exten.com .

CONTACT: OutSmart, San Diego
             Melissa Dennis, 858-268-4094

melissa.dennis@sbcglobal.net

or
            for Exten Industries
             Ann Randolph, 858-457-4699

annryder@san.rr.com

SOURCE: Exten Industries Inc.

Exten's Subsidiary MultiCell Ships Liver Cell Lines in 96 Well Plates
23 Jul 2003, 08:30am ET

WARWICK, R.I.--(BUSINESS WIRE)--July 23, 2003--Exten Industries Inc. (Exten): (OTCBB:EXTI) announced today that its wholly-owned subsidiary, MultiCell Technologies Inc., (MultiCell), a liver cell bio-engineering firm in Warwick, R.I., has successfully delivered its immortalized human liver cells in 96 well plates.

Ron Faris, president and chief scientific officer of MultiCell explained, "The importance of this new product format is that pharmaceutical companies can now integrate our immortalized liver cells into their automated drug discovery procedures. The use of 96 well plates will speed up the process of moving new compounds through the drug discovery process, and will make the development of new drugs more efficient and cost-effective," he added. "We believe that MultiCell's liver cell lines will rapidly become the gold standard throughout the pharmaceutical industry for testing of new drugs," Faris said. "Our customers have been very pleased with the initial deliveries and we expect to see a ramp up of revenues as our cell lines become more integrated into their drug discovery processes."

About Exten:

Exten Industries Inc., (OTCBB:EXTI), through its subsidiaries MultiCell Technologies Inc., and Xenogenics Corp. 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 is developing cell-based toxicological and drug screening tests. MultiCell's cellular products enable production of liver-derived therapeutic proteins, and potentially, stem cells. Xenogenics is developing a synthetic bio-liver device, Sybiol(R). For more information, visit Exten's web site, 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.

CONTACT: MultiCell Technologies, Warwick, R.I.
             Dr. Ron Faris, 401-738-7560

    SOURCE: Exten Industries Inc.
 

Exten Subsidiary MultiCell Technologies Awarded SBIR Grant
13 Aug 2003, 08:31am ET

WARWICK, R.I.--(BUSINESS WIRE)--Aug. 13, 2003--MultiCell Technologies, Inc., a subsidiary of Exten Industries, Inc. (OTCBB:EXTI), announced today that they have been awarded another Phase I Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH) to study new metabolic pathways for their proprietary immortalized human liver cells, used increasingly in pharmaceutical R&D to help identify new drug candidates to treat various diseases. The aim of this SBIR award is to identify additional cellular metabolic functions that might be helpful in identifying viable chemical compounds for future drug development, thus augmenting current utilization of MultiCell's cell lines.

MultiCell President and Chief Scientific Officer, Ronald Faris, Ph.D., stated, "MultiCell's human hepatocyte cell lines have been proven useful in identifying potential drug-drug interactions before clinical trials are initiated." Faris continued, "We have a handful of big pharma clients currently. This new grant will hopefully allow us to determine additional, as yet unidentified, metabolic pathways whereby chemical compounds can interact with human liver cells," he said, "thus providing our customers with even more model systems useful for identifying and evaluating new drug candidates in additional disease areas."

Jerry Newmin, Exten's Chairman and CEO, commented, "We are pleased with the grant as it helps to further support our belief in the increasing successful utility of this particular application of our proprietary cells in pre-clinical pharmaceutical research." He added, "The end result of this project could provide expanded use of our immortalized cells to address new disease areas by the pharmaceutical industry, accelerating their drug discovery processes."

About Exten Industries and MultiCell:

Exten Industries, Inc., (OTCBB:EXTI), through its wholly-owned subsidiaries MultiCell Technologies, Inc., and Xenogenics Corporation, all based in Warwick, Rhode Island, 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 is developing cell-based toxicological and drug screening tests. MultiCell's cellular product expertise enables production of liver-derived therapeutic proteins, and potentially, development of adult stem cells. Xenogenics is developing a synthetic bio-liver device, Sybiol(R). For further information, please visit www.exten.com , or contact MultiCell at info@multicelltechnologies.com or 401-738-7560.

The matters set forth in this press release contain 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.

CONTACT: MultiCell Technologies, Inc.
             Ronald Faris, Ph.D., 401-738-7560

    SOURCE: Exten Industries, Inc.

Exten Subsidiary MultiCell and XenoTech Sign Exclusive Distribution Agreement For Liver Cell Lines
20 Aug 2003, 08:31am ET

WARWICK, R.I.--(BUSINESS WIRE)--Aug. 20, 2003--Exten Industries, Inc. (Exten) (OTCBB:EXTI) announced today that its wholly-owned subsidiary, MultiCell Technologies, Inc., (MultiCell), a liver cell bio-engineering firm also based in Warwick, Rhode Island, has executed a marketing and distribution agreement for its proprietary immortalized human liver cell lines with XenoTech, LLC (XenoTech) located in Lenexa, Kansas.

Under the terms of the agreement, MultiCell grants XenoTech a seven-year exclusive right to distribute globally its proprietary liver cell lines. MultiCell will receive an initial cash payment of $1.5 million, a portion of which is an advance against future royalties. XenoTech is additionally required to pay minimum royalties to MultiCell of $18 million over the term of the agreement in order to maintain exclusivity.

Jerry Newmin, Exten's CEO, noted, "The XenoTech Agreement represents an avenue to rapidly maximize MultiCell's exposure to the pharmaceutical industry." Newmin adds, "XenoTech has good, established relationships with major international pharmaceutical companies, and their sales and distribution expertise will allow MultiCell to focus its efforts on continued research and development of new advances in cellular products, including our therapeutic proteins."

Andrew Parkinson, Ph.D., XenoTech founder and CEO, comments, "MultiCell's immortalized cell lines will provide our customers an invaluable tool to rapidly and reliably screen new compounds for potential drug-drug interactions, and thus accelerate their drug development processes." Parkinson added that "XenoTech and MultiCell are ideal partners because XenoTech's cell manufacturing facilities and seasoned sales organization, which, in addition to the United States, involves Nosan Corporation in Japan and tebu-bio in Europe, can expand the distribution of MultiCell's immortalized liver cells in the pharmaceutical industry, and significantly augment XenoTech's product and service offerings to customers." He concluded, "We look forward to a long and successful relationship."

About Exten:

Exten Industries, Inc., (OTCBB:EXTI), through its subsidiaries MultiCell Technologies, Inc., and Xenogenics Corporation both of Warwick, Rhode Island, 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 is developing cell-based toxicological and drug screening tests. MultiCell's cellular product expertise enables production of liver-derived therapeutic proteins, and potentially, development of adult stem cells. Xenogenics is developing a synthetic bio-liver device, Sybiol(R). Exten's corporate headquarters are in Warwick, Rhode Island. For more information, please visit Exten's Web site, www.exten.com .

About Xenotech:

Xenotech was founded in 1994 by Andrew Parkinson, Ph.D., to study drug metabolism and safety. XenoTech provides products and contract research services to pharmaceutical companies throughout the world to optimize discovery, development and approval of new drugs, and has earned a worldwide reputation for scientific excellence. XenoTech offers one of the most extensive selections of products for drug metabolism-related research, including liver and extrahepatic microsomes, cryopreserved hepatocytes (liver cells) from humans as well as six other toxicologically relevant species, antibodies directed against drug-metabolizing enzymes, recombinant human cytochrome P450 enzymes and bDNA probe sets for analysis of gene expression. XenoTech's products and services are marketed in Japan by Nosan Corporation and by tebu-bio in Europe. For more information, visit www.xenotechllc.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 ins Exten Industries, Inc. 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. Exten, MultiCell and XenoTech each disclaim any intent or obligation to update these forward-looking statements.

CONTACT: MultiCell Technologies
            Ron Faris, 401-738-7560
               President and CSO
                    or
             XenoTech
             Andrew Parkinson, 913-438-7450
               President and CEO

    SOURCE: Exten Industries, Inc.

Press Release Source: Exten Industries, Inc.
 

Tom Page Joins the Board of Exten Industries
Tuesday September 16, 8:30 am ET 
 

WARWICK, R.I.--(BUSINESS WIRE)--Sept. 16, 2003--Exten Industries, Inc. (Exten) (OTCBB:EXTI - News) announced today that Thomas A. Page, Director Emeritus and former Chairman of the Board of Enova Corporation and San Diego Gas and Electric Company (now part of Sempra Energy), has joined Exten's board as an outside director. 
Mr. Page has been active in numerous industrial, community and governmental associations and has funded medical research. He is a director of the San Diego Regional Economic Development Corporation, a trustee of the Grossmont Union High School District Board of Education, chairman of Cuyamaca Bank, an advisory director of Sorrento Ventures, and a director of Leap Wireless International, Targeted Molecules Corp., Metallic Power and SYS Technologies, Inc. Page has also served on the boards of The Scripps Research Institute and The Burnham Institute, two La Jolla-based biomedical research institutes of note. 

In 1998, the Corporate Directors Forum in San Diego honored Mr. Page as Director of the Year for Lifetime Achievement in Corporate Governance. 

Mr. Page earned a Bachelor of Science degree in civil engineering, a masters in industrial administration and a doctorate in management, all from Purdue University. He has been licensed as an engineer and as a certified public accountant (CPA). Mr. Page also serves on the University of California Presidents Council on the National Laboratories. 

Jerry Newmin, Exten Chairman and CEO, remarked, "Tom Page has been a friend and supporter of the Company for many years. He is a highly respected executive and has been at the forefront of developing best practices in corporate governance. I am pleased that Tom has agreed to lend his support to the Company at this crucial stage in its development. I look forward to the invaluable addition of his wise counsel and experience to our board." 

About Exten: 

Exten Industries, Inc., (OTCBB:EXTI - News) through its subsidiaries Xenogenics Corporation and MultiCell Technologies, Inc., develops medical devices and supplies liver cell products to the pharmaceutical industry. Xenogenics is developing the Sybiol® synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick, Rhode Island. For more information about Exten and its subsidiaries, visit www.exten.com, or www.exti.info. 

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. 
 
 

--------------------------------------------------------------------------------
Contact: 
     Exten Industries, Inc., Warwick
     Jerry Newmin, 619-575-9276
     www.exten.com
     www.exti.info
 
 

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Source: Exten Industries,

Exten's MultiCell Unit Receives $1.5 Million for XenoTech Cell Transfer
Wednesday September 24, 8:33 am ET 
 

WARWICK, R.I.--(BUSINESS WIRE)--Sept. 24, 2003--MultiCell Technologies, Inc., (MultiCell) a wholly owned subsidiary of Exten Industries, Inc. (Exten) (OTC BB: EXTI) has completed the training and transfer of two cell lines to XenoTech, LLC, and has received the $1.5 million payment required under terms of the License Agreement. This payment was part of the recently announced $18 million seven-year exclusive licensing and distribution agreement of two of MultiCell's cell lines. 
Dr. Ron Faris, MultiCell President and Chief Scientific Officer, oversaw the training of XenoTech employees in their Lenexa, Kansas facility, which will manufacture MultiCell's proprietary line of hepatic cells. These cells are being sold to pharmaceutical companies for use in drug discovery and lead generation studies. Cells are available in 96-well plates format to better integrate use of immortalized liver cells into high throughput laboratory processes. 

According to Dr. Faris, "Now that XenoTech's manufacturing facility can produce cells according to our proprietary procedures, we will be better able to meet the projected demand as XenoTech's global sales organization augments our heretofore limited market penetration." 

About Exten: 

Exten Industries, Inc., through its two subsidiaries Xenogenics Corporation and MultiCell Technologies, Inc., is engaged in developing liver-based products in the medical device, therapeutic and pharmaceutical testing arenas. Xenogenics is developing the Sybiol® synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick, Rhode Island. For more information about Exten and its subsidiaries, visit 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. 
 
 

--------------------------------------------------------------------------------
Contact: 
     Exten Industries Inc.
     Ron Faris, 401-738-7560
 
 

--------------------------------------------------------------------------------
Source: Exten Industries Inc.

Exten's MultiCell Unit and XenoTech LLC to Launch Cell Lines at ISSX Annual Meeting
Friday October 10, 8:30 am ET 
 

WARWICK, R.I.--(BUSINESS WIRE)--Oct. 10, 2003--Exten Industries' (Exten)(EXTI.OB) wholly owned subsidiary MultiCell Technologies Inc. (MultiCell) will officially launch its immortalized human hepatic cell lines with its new distribution partner, XenoTech LLC, at 12th annual meeting of the International Society for the Study of Xenobiotics (ISSX). The meeting will be held Oct. 12 - 16 in Providence, R.I. 
"The ISSX meeting is the most important international assembly of drug discovery scientists," stated Ronald A. Faris, Ph.D., MultiCell president and chief scientific officer. "This will be a great opportunity for XenoTech and MultiCell to gain exposure for our products and our relationship," he said. "The ISSX meeting brings together scientists from all over the world who are involved in research on metabolism of foreign substances by the body, and of course, liver cells, MultiCell's core technology, naturally process many of these substances," Dr. Faris added. Faris will be available at the XenoTech exhibit booth #238 to answer questions. 

MultiCell and XenoTech recently signed an exclusive distribution relationship for MultiCell's proprietary liver cell lines and culture media developed by MultiCell. Under the terms of the agreement, MultiCell grants XenoTech a seven-year exclusive right to globally distribute its immortalized liver cell lines and culture media. MultiCell has received an initial cash payment of $1.5 million and will receive advances against future royalties. XenoTech will additionally pay royalties to MultiCell on all such sales, guaranteeing MultiCell minimum royalties totaling $18 million over the term of the agreement. 

About Exten 

Exten Industries Inc., through its two subsidiaries Xenogenics Corp. and MultiCell Technologies Inc., is engaged in developing liver-based products in the medical device, therapeutic and pharmaceutical testing arenas. Xenogenics is developing the Sybiol® synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick, R.I. For more information about Exten and its subsidiaries, visit 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. 

--------------------------------------------------------------------------------
Contact: 
     Exten Industries, Warwick
     Ron Faris, 401-738-7560
 
 

--------------------------------------------------------------------------------
Source: Exten Industries Inc.

30 October 2003, 2:08pm ET 

WARWICK, RI--(BUSINESS WIRE)--Oct. 30, 2003--Exten Industries Inc.'s (Exten) (OTCBB:EXTI) wholly owned subsidiary, MultiCell Technologies Inc., (MCT) announced today that its exclusive distribution partner, XenoTech LLC, has introduced MCT's technology at three prominent drug discovery meetings, as new results reported by scientists from XenoTech and Roche independently validate the reproducibility of MCT's cell lines as a valuable tool in pharma's R&D arsenal to characterize new drug candidates. 

This week, XenoTech marketed MCT products at the American Association of Pharmaceutical Scientists (AAPS) 2003 meeting in Salt Lake City. According to the AAPS, their annual meeting and exposition is "the largest gathering of pharmaceutical scientists in the world." 

Earlier this month XenoTech scientists presented new and promising results showing how MultiCell's liver cell lines can be used to better characterize new drug candidates prior to entry into clinical studies. The presentations were heard by audiences of over 400 pharmaceutical scientists gathered from all over the world who attended the 12th annual meeting of the International Society for the Study of Xenobiotics (ISSX), held October 12 - 16 in Providence, RI and the 18th annual meeting of the Japan Society for the International Study of Xenobiotics (JSSX) held October 8 - 10 in Sapporo, Japan. 

XenoTech Founder and CEO, Dr. Andrew Parkinson, states, "Our characterization studies corroborate and extend the earlier findings of MultiCell and Pfizer scientists presented at the 2002 ISSX meeting. Our results show that MCT's immortalized hepatocytes retain several functional drug metabolizing enzymes that previously had not been studied." Dr. Parkinson adds, "MCT's cell lines represent a breakthrough technology that has the potential to revolutionize how the pharmaceutical industry screens new drug entities, we anticipate significant worldwide interest in MCT's cell lines." 

A presentation by scientists from Roche at the Providence ISSX meeting also concluded that MCT's "immortalized cells have potential for use as an alternative to primary human liver tissue for in vitro induction studies." 

Mentioned Last Change 
EXTI  1.02 0.18dollars or (21.42%) 
Ronald A. Faris, Ph.D., MultiCell president and chief scientific officer, offers, "The XenoTech and Roche results are very significant. Not only have these laboratories confirmed that MCT cell lines are a reliable tool to study induction of key drug metabolizing proteins, but more importantly, taken together these findings indicate that our immortalized hepatocytes can be employed to study the complex metabolism of new drug candidates and identify potential drug-drug interactions. We anticipate that the greatest impact of MCT technology will be to red-flag those new drug candidates that may have undesirable side effects much earlier in the overall drug discovery process, thus providing significant savings to the pharmaceutical industry." 

Dr. Faris added that "MultiCell's global sales, marketing and production agreement with XenoTech will allow us to re-direct our own efforts upon developing therapeutic applications for our highly functional liver cells, thereby, hopefully, opening up new markets for our other potential products." 

Copies of the XenoTech and Roche scientific presentations can be requested at info@multicelltechnologies.com . 

About Exten: 

Exten Industries Inc., through its two subsidiaries Xenogenics Corporation and MultiCell Technologies Inc., is engaged in developing liver-based products in the medical device, therapeutic and pharmaceutical testing arenas. Xenogenics is developing the Sybiol(R) synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick, RI. For more information about Exten and its subsidiaries, visit 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. 

CONTACT: Exten Industries Inc., Warwick
             Ron Faris, 401-738-7560

    SOURCE: Exten Industries

7 November 2003, 08:30am ET 

WARWICK, R.I.--(BUSINESS WIRE)--Nov. 7, 2003--Exten Industries Inc. (Exten) (OTCBB:EXTI) announced today that its majority owned subsidiary, Xenogenics Corp. ("Xenogenics"), has received a notice of allowance from the U.S. Patent and Trade Office that its Sybiol(R) synthetic bio-liver device patent will be issued in the next few months. 

Jerry Newmin, chairman and CEO of Exten, commented, "We have worked and waited a long time for this patent. It has the possibility of helping hundreds of thousands of people with liver trauma or insufficiency around the world. This original patent was based on the use of primary pig hepatocytes (liver cells). As there have been many design advances since the initial patent filing, including a switch to MultiCell's immortalized liver cells, we intend to file additional new patents covering recent improvements to this device. The team at MultiCell has been instrumental in building a promising new prototype that is ready for initial animal testing." 

Mentioned Last Change 
EXTI  1.02 0.18dollars or (21.42%) 
Xenogenic's synthetic bio-liver device has been re-designed to utilize the immortalized human liver cells lines developed by Exten's wholly owned subsidiary Multicell Technologies Inc. ("MultiCell"). Greg Szabo, president, added, "Our two subsidiaries have worked together to redesign and enhance the Sybiol(R) device around MultiCell's highly functional liver cell lines. Liver diseases affect about one out of every 10 Americans and that incidence appears to be increasing," he added. "Our Sybiol(R) device may well prove someday to be a useful tool in treating these patients." 

The Sybiol synthetic bio-liver is an extra-corporeal device designed to support patients who are waiting for liver transplants, who are suffering from episodic liver disease caused by hepatitis, alcoholism, cancer, or from burn or toxic shock syndrome or other liver trauma. The device is designed to increase not only the life spans, but also the quality of life in afflicted patients. 

About Exten: 

Exten Industries Inc., through its two subsidiaries Xenogenics Corp. and MultiCell Technologies Inc., is engaged in developing liver-based products in the medical device, therapeutic and pharmaceutical testing arenas. Xenogenics is developing the Sybiol(R) synthetic bio-liver device. MultiCell provides hepatic (liver) cells and cell lines to pharmaceutical companies, and is developing cell-based toxicological and drug screening tests and biologics for use in diagnostic and therapeutic applications. MultiCell's cellular product expertise also enables production of liver-derived therapeutic proteins. Exten's corporate and research headquarters are in Warwick, RI. For more information about Exten and its subsidiaries, visit 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. 

CONTACT: Exten Industries Inc., Warwick
             Greg Szabo or Jerry Newmin, 401-738-7560

    SOURCE: Exten Industries Inc.
 
 

 

Initiative	Applications	Applications Market Opp.
Hepatocyte Test Kits	Pharmacology/Toxicology	$3.7B ww
Therapeutic Protein Production	Resource of non-blood derived complex proteins	$43B ww estimated in 2004
Liver Stem Cell Transplantation	Regenerative treatment for liver disease	$78B ww estimated in 2010
Sybiol® Synthetic BioArtificial Liver Assist Device	Acute and chronic liver disease	$2B ww

EARNINGS PROJECTIONS ARE BASED ON ESTIMATED SALES OF THE COMPANY'S BREAKTHROUGH LIVER CELL LINES & TEST KITS, NOT ON CURRNT LICENSING AGREEMENTS ALONE.
 

 

VARIOUS PROJECTED EARNINGS OVER NEXT YEAR	SHARES OUTSTANDING	EARNINGS PER SHARE	P/E TO BE APPLIED		APPROPRIATE PPS
$ 3 MILLION	110 million	.027	10 15  20 50	conservative moderate standard BULLISH	$0.27 p/s $0.41 p/s $0.54 p/s $1.35 p/s
$ 6 MILLION	110 million	.054	10 15 20 50	conservative moderate standard BULLISH	$0.54 p/s $0.82 p/s $1.08 p/s $2.70 p/s
$ 9 MILLION	110 million	.081	10 15 20 50	conservative moderate standard BULLISH	$0.81 p/s $1.23 p/s $1.62 p/s $4.05 p/s
$12 MILLION	110 million	.108	10 15 20 50	conservative moderate standard BULLISH	$1.08 p/s $1.64 p/s $2.16 p/s $5.40 p/s
$15 MILLION	110 million	.136	10 15 20 50	conservative moderate standard BULLISH	$1.36 p/s $2.04 p/s $2.72 p/s $6.80 p/s
$50 MILLION*	110 million	.45	10 15 20 50	conservative moderate standard BULLISH	$4.50  $6.75 $9.00  $22.50

*We call this the EXTI-MultiCell "Gold  Standard Scenario" . . . . and why it could happen over the next year or so is referenced below:
On 8/13/2001 the Wall Street Reporter did an interview with Greg Szabo, President of Exten Industries & interim CEO of MultiCell. This is one question & answer from that interview:

Wall Street Reporter - What kind of revenue model do you have in existence and how do you want to maintain that model?

Szabo - Well, I mean, proforma we would hope that Exten would look towards being a $50 million business within the next 3 years (pause)...Now the liver assist device will still not be on the market at that time...we would expect 4 to 5 years before that'll hit the market. This will be revenue that we would expect to generate out of the MultiCell subsidiary primarily.

If Szabo is correct and MCT comes in on target, that would mean MCT may earn that projected $50 million from now until August 2004. Now granted, this won't be all profit, but let's just have some fun and say MCT outshines his expectations, and that 50 mill is ALL profit! Now, you may need to add another column to your chart and the numbers might look something like this:

This particular possible scenario was proffered by EXTIcat on Raging Bull.  - Webby.

* Applies to domestic and Canadian securities. For non-Canadian foreign securities and American depositary Receipts, see Marketplace Rule 4320.
1 For initial listing, a company must satisfy one of the following to be in compliance: the stockholders’ equity requirement, the market value of listed securities requirement or the net income requirement. Under Marketplace Rule 4200(a)(19), listed securities is defined as "securities quoted on NASDAQ or listed on a national securities exchange".
2 Seasoned companies (those companies already listed or quoted on another marketplace) qualifying only under market value of listed securities requirement must meet the market value of listed securities and the bid price requirements for 90 consecutive trading days prior to applying for listing.
3 Publicly held shares is defined as total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more. In the case of ADRs/ADS, for initial inclusion only, at least 100,000 shall be issued.
4 Round lot holders are shareholders of 100 shares or more.
5 An Electronic Communications Network ("ECN") is not considered a market maker for the purpose of these rules.

Who is Webby?

We occasionally post on Raging Bull, but due to my personal advanced glaucoma our online activity is more limited these days.  We hope this web site will bring greater public attention to the great work and potential of MultiCell Technologies, Xenogenics,  and their parent company, Exten Industries.

We also remain long and sgenerally bullish on Peregrine Pharmaceuticals (NASDAQ:PPHM) whose cancer therapeutics remain among the most promising, in our opinion. Our PPHM web site is at PPHM.NET which is updated less extensively of late due to visual acuity difficulties.  Our PPHM.net has been online since 1997.   Our handle on RB is "PPHMNET" (PPHM board).  Nickname: "Webby". Our handle on the RB EXTI board is "extidotinfo".

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