MII Microislet

SAN DIEGO, Aug. 31 /PRNewswire-FirstCall/ -- MicroIslet, Inc. (AMEX:MII) and The Scripps Research Institute (TSRI) today announced that they have extended their collaboration agreement for an additional two years. MicroIslet and TSRI have been collaborating in the area of islet cell transplantation therapies for treatment of insulin-dependent diabetes. Under the terms of the agreement, MicroIslet and TSRI will continue preclinical studies utilizing MicroIslet's proprietary technologies. MicroIslet believes that the completion of this work will set the stage for studies enabling an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA), yielding data that can be included as part of an IND submission for human clinical trials. The research is being conducted by a group led by Dr. Daniel Salomon, Associate Professor at TSRI in the Department of Molecular and Experimental Medicine. Dr. Salomon is the Co-Director of the Center for Organ and Cell Transplantation for Scripps Health. He also chairs the Steering Committee of the NIH Islet Cell Resources Consortium. Dr. Salomon stated, "The severe donor organ shortage and the devastating impact of diabetes on our patients are compelling arguments to advance the field and develop a cure by a successful islet transplantation strategy. The use of islets from pigs, called xenotransplantation, could solve the donor organ shortage by providing a renewable source of tissue that could even be conditioned to increase success and safety. The primary objective of this research program is to study MicroIslet's evolving technologies as the platform for solving the next major barrier to effective islet transplantation: immune rejection of the islets. We expect the results of these studies to enable the initiation of clinical trials using xenotransplantation for diabetes. In the last year we have made considerable progress both in understanding the basic scientific nature of the problems and devising strategies combining novel therapeutics and newer material formulations to advance the project. The basic research team in my laboratory at The Scripps Research Institute and the clinical transplantation team of Scripps Health's Center for Organ and Cell Transplantation at Green Hospital will continue to work on moving this project from bench to bedside." As part of this multi-year collaboration, MicroIslet will provide financial support and technical assistance to TSRI. TSRI will contribute significant resources including the transplantation expertise of its scientists. MicroIslet has the option to retain all commercial licensing rights to any discoveries made through its collaboration with TSRI. Haro Hartounian, Ph.D., President & COO of MicroIslet stated, "We are pleased to continue our collaboration with Dr. Salomon and his colleagues at TSRI. The extension of our agreement will help advance our development program for a safe, effective and easily tolerated therapy for insulin dependent diabetes." About TSRI TSRI is one of the largest, private, non-profit scientific research organizations in the world. It stands at the forefront of basic biomedical science, a vital segment of medical research that seeks to comprehend the most fundamental processes of life. TSRI is recognized for its research in molecular and cellular biology, chemistry, immunology, the neurosciences, and molecular medicine. Additional information about the Institute can be found at http://www.scripps.edu/. About MicroIslet MicroIslet is a biotechnology company engaged in the research, development, and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes. MicroIslet's patented islet transplantation technology, exclusively licensed from Duke University, includes methods for isolating, culturing, cryopreservation, and immuno-protection (microencapsulation) of islet cells. MicroIslet is working to develop and commercialize a first product, called MicroIslet-PTM, a microencapsulated porcine islet cell suspension that will be used for transplantation in patients with insulin-dependent diabetes. Additional information about MicroIslet can be found at http://www.microislet.com/. Except for the historical information contained herein, the matters set forth in this press release, including the expectation of development of new therapeutic products, commencement of clinical trials and the impact of MicroIslet's products on diabetes patients, 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, including the risks and uncertainties inherent in medical treatment discovery, development and commercialization, the risks and uncertainties associated with MicroIslet's early stage xenotransplantation technologies, the risks and uncertainties of governmental approvals and regulation, MicroIslet's need to raise substantial additional capital to execute its business plan, the risks that MicroIslet's competitors will develop or market technologies or products that are more effective or commercially attractive than MicroIslet's products, and other risks detailed from time to time in MicroIslet's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. MicroIslet disclaims any intent or obligation to update these forward-looking statements. For further information, please contact: Haro Hartounian, President and Chief Operating Officer of MicroIslet Inc., +1 858-657-0287, . DATASOURCE: MicroIslet, Inc.; The Scripps Research Institute CONTACT: Haro Hartounian, President and Chief Operating Officer of MicroIslet Inc., +1-858-657-0287, Web site: http://www.microislet.com/ http://www.scripps.edu/

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