A multi-staged population balance model is proposed to describe the cell cycle dynamics of myeloma cell cultivation. In this model, the cell cycle is divided into three stages, i.e., G1, S, and G2M phases. Both DNA content and cell volume are used to differentiate each cell from other cells of the population. The probabilities of transition from G1 to S and division of G2M are assumed to be dependent on cell volume, and transition probability from S to G2M is determined by DNA content. The model can be used to simulate the dynamics of DNA content and cell volume distributions, phase fractions, and substrate and byproduct concentrations, as well as cell densities. Measurements from myeloma cell cultivations, especially the FACS data with respect to DNA distribution and cell fractions in different stages, are employed for model validation.