MicroIslet Comments on NIH Plan to Combat Type 1 Diabetes
October 18 2006 - 9:30AM
PR Newswire (US)
* CEO Sees NIH Objective to Develop Cell Replacement Therapy as
'Closely Aligned With MicroIslet's Therapeutic Strategy' SAN DIEGO,
Oct. 18 /PRNewswire-FirstCall/ -- MicroIslet, Inc. (AMEX:MII), a
biotechnology company engaged in the research, development and
commercialization of patented technologies in transplantation
therapy for people with insulin-dependent diabetes, today commented
on the recently announced National Institutes of Health (NIH)
long-term plan to combat type 1 diabetes. The plan contains a
number of objectives, one of which is developing cell replacement
therapy. The NIH identified four remaining barriers to islet
transplantation, all four of which "are closely aligned with
MicroIslet's therapeutic strategy," according to James R. Gavin
III, M.D., Ph.D., President and Chief Executive Officer of
MicroIslet. Dr. Gavin commented, "We were pleased to see the recent
long-term NIH plan to combat type 1 diabetes, especially the
objective to develop cell replacement therapy. We noted with
interest that the four major remaining barriers to islet
transplantation identified by the NIH are: 1) developing methods to
produce an unlimited supply of islets, 2) improving ways to harvest
islets, 3) reducing the complications of islet transplantation, and
4) testing ways to prevent recurrent autoimmunity and the immune
rejection of donor islets." Dr. Gavin commented on each of these
barriers identified in the NIH plan: "On the first point, we are
the only entity we are aware of that has access to a robust supply
of insulin-producing islets, through an exclusive porcine islet
supply agreement with the Mayo Foundation. On the second point, we
continue to optimize our islet harvesting techniques. Third, our
implantation procedure is minimally invasive. And on the fourth
point, we believe that our recently reported six-month primate data
lends support to the efficacy of our islet microencapsulation
strategy as an alternative to long-term immunosuppressive drug
regimens." An NIH press release outlining its long-term type 1
diabetes plan can be found online at
http://www.nih.gov/news/pr/oct2006/niddk-11.htm. Dr. Gavin
concluded, "Other recent press we have seen on islet
transplantation has focused on harvesting islets from cadavers and
on immune-suppressing drug regimens to prevent rejection of the
transplanted islets. Relying on cadaveric islets results in
chronically insufficient supply to meet the growing need for better
diabetes treatment. Most of the islet protection provided by our
approach is through our proprietary microencapsulation techniques,
minimizing the need for administration of immunosuppressant drugs,
which are generally used only at the outset of treatment. We
believe that encapsulating islets to prevent rejection in the
longer term, as supported by our recently reported six-month
primate study data, is a more sustainable approach than long-term
immunosuppression." Dr. Gavin will make a presentation on the
company's therapeutic approach at Urchin Capital Partners' "Value
Below the Radar 2006" institutional investor conference on Tuesday,
October 24 at Le Meridien Hotel in San Francisco. 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-P(TM),
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 implication and interpretation of preliminary data,
the expectation of development of new therapeutic products 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 MicroIslet's ability to continue as a going concern, 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, dependence on the Mayo Foundation for Medical
Education and Research as a sole source supplier of animal parts
for pre-clinical and clinical studies, MicroIslet's need to raise
substantial additional capital to proceed through human clinical
trials and bring any product to market, 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 more information,
please visit our Web site at http://www.microislet.com/. For
further information, contact: Kevin A. Hainley, MicroIslet Inc.
858-657-0287, Sean Collins, Senior Partner CCG Investor Relations
& Strategic Communications 310-231-8600 ext. 202 ISIN
US59507Q1067 DATASOURCE: MicroIslet, Inc. CONTACT: Kevin A. Hainley
of MicroIslet Inc., +1-858-657-0287, ; or Sean Collins, Senior
Partner of CCG Investor Relations & Strategic Communications,
+1-310-231-8600, ext. 202, for MicroIslet, Inc. Web site:
http://www.nih.gov/news/pr/oct2006/niddk-11.htm Web site:
http://www.microislet.com/
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