MultiCell Technologies, Inc. (MCET.OB) has announced that Stephen M. Chang has officially resigned as the company’s President and Chief Executive Officer. As a result, W. Gerald Newmin will serve as MultiCell’s Interim President and Chief Executive Officer until the Company identifies a permanent candidate.
Mr. Newmin stated “We thank Dr. Chang for his contributions to the Company, and are pleased that he will continue as both a director and member of the scientific advisory board.”
Newmin added “As we enter 2008, our initial efforts will be on fund raising efforts, and advancing MCT-125 in our planned Phase IIb trial,” said Mr. Newmin. “MultiCell’s lead drug candidate, MCT-125, for the treatment of primary multiple sclerosis-related fatigue, has demonstrated efficacy in human clinical trials, and remains one of the key assets of the company. Our strong preclinical therapeutic product pipeline has helped to attract the interest of larger pharmaceutical and biotechnology company prospective partners. Another goal in 2008 is to conclude our current negotiations and enter into co- development agreements with one or more partners.”
Let us hear your thoughts below: