The present invention provides a method of producing a multipotent stem cell, said method comprising culturing at least one fibroblast cell in the presence of an effective amount of at least one small molecule reprogramming factor(s) that induces the cell to de-differentiate into a multipotent stem cell, wherein the method excludes the use of reprogramming factor(s) that are not small molecules. The small molecule reprogramming factor(s) may include a G9a HMTase inhibitor(s) and/or a MEK inhibitor(s) optionally in combination with other small molecule reprogramming factor(s). The invention also includes methods of differentiating the multipotent stem cells, cells produced by the methods, assays using the cells and kits for use in the methods.