To be as short as possible:

Vide: http://www.abcam.com/bindarit-ab143292.html 

BINDARIT:  CCL2, CCL7 and CCL8 inhibitor. Anti-inflammatory agent.

2-Methyl-2-[[1-(phenylmethyl)-1H-indazol-3-yl]methoxy]propanoic acid

SMILES: O=C(O)C(C)(C)OCc3nn(Cc1ccccc1)c2ccccc23

Molecula formula:   C19H20N2O3;    MW:   324.38

"Soluble in ethanol to 25 mM and in DMSO to 100 mM"

SInce you try to prepare Bindarit IN 0.5%(HYDROUS?) methyl cellulose this might be a general problem of (dis)solubility....

CITATION:  Need more advice on solubility, usage and handling? Please visit our frequently asked questions (FAQ) page    [= http://www.abcam.com/content/biochemicals---frequently-asked-questions-faqs ] for more details.  END of CITATION 

Note added / by editing:  

DISCLAIMER: no affiliation with or financial interest in ABCAM-company

Thank you. As you know, bindarit in DMSO or EtOH cannot be injected in mice due to possible toxicity. I initially made a stock solution in DMSO but when diluted in MC, the compound completely ppt out. Seeking for advice from whom have already did use the compound in animal model.

Dear Nazmul, thank you for your explanation....I understand...

The only study(revealing some information on dilution/application of Bindarit)  I was able to find after some search in < scholar.google.com > was: 

Rulli et al. (2009):Amelioration of alphavirus-induced arthritis and myositis in a mouse model by treatment with bindarit, an inhibitor of monocyte chemotactic proteins, in Arthritis & Rheumatology, Volume 60, Issue 8 August 2009 Pages 2513–2523, cf.: http://onlinelibrary.wiley.com/doi/10.1002/art.24682/pdf  :

ex Materials and Methods (p.2515):

Bindarit treatment of mice. Bindarit (2-methyl-2-[[1(phenylmethyl)-1H-indazol-3-yl]methoxy] propanoic acid) was provided by Angelini Research Center/ACRAF (Rome, Italy).

RRV infection studies. Mice inoculated with RRV were injected intraperitoneally (IP) with bindarit (100mg/kg of body weight in a 100 l volume) or vehicle (0.5% methylcellulose; Sigma, Castle Hill, New South Wales, Australia) twice a day starting from the day of infection.

Bindarit treatment of MonoMac cells: Bindarit stock solution was prepared in DMSO (Sigma) and diluted in RPMI 1640 (0.1% final concentration of DMSO). 

I have see that another application was done with a similar(?) natural antidenaturant agent, namely Bendazac, in  a mixture of 0.5% (w/v) methylcellulose and 0.1% Tween-80 (cf.: https://www.jstage.jst.go.jp/article/jjp/79/1/79_1_89/_pdf )...perhaps such a mixture would help?

Thank you.