Islet Sciences, Inc., (OTC.BB: ISLT) a biotechnology company engaged in
the research, development and commercialization of patented technologies
for people with diabetes, announced today that Dr. Jonathan Lakey,
Associate Professor of Surgery and Biomedical Engineering at the
University of California Irvine and Chief Scientific Officer and
Chairman of the Scientific Advisory Board of Islet Sciences, has
received $1.27 million in grant funding from the JDRF to develop
innovative methods to treat and possibly cure type 1 diabetes. Dr. Jerry
Nadler, Dr. Elliot Botvinick and Dr. Paul Johnson, co-investigators in
the JDRF grant, are also members of the Company's Scientific Advisory
With $1.27 million in funding over three years, Dr. Lakey will move
forward to create a method to transplant encapsulated pancreatic islets
that are not rejected by the body. Additionally, the grant funding will
enable the company to collect additional information to support its
pending IND to the FDA to support clinical trials. In previous research,
Dr. Lakey exemplified that transplanting encapsulated islets can produce
and secrete insulin. The team will work to better understand the
challenges of moving this technology into patients with type 1 diabetes.
The Lakey team - which includes researchers and products from Danish
pharmaceutical maker Novo Nordisk, Oxford University, University of
Groningen in the Netherlands and Eastern Virginia Medical School, will
explore the use of isolated islets in which the cells are encapsulated
in ultra-pure algae membrane.
"Perhaps the greatest need in the field of islet transplantation is to
make the metabolic benefits available to patients with type 1 diabetes,
without the need for chronic immunosuppression," said Dr. Lakey, who is
also the director of the Clinical Islet Program at University of
California Irvine Health. "I believe that this technology has great
promise for realizing our goal and this welcome support from JDRF should
speed our progress."
"Clearly the receipt of this grant will help our company execute our
ongoing initiatives and is a huge vote of confidence from such a well
known organization," said John Steel, Chairman and CEO of Islet
Sciences. "As we continue to make progress with our diabetes therapies,
this grant is a true testament to the value of our therapies which
represents such a large market opportunity for Islet Sciences. Our
approach to the treatment of diabetes is what attracted this
world-renowned institution as we capitalize on the growing opportunities
in this field. We look forward to announcing additional milestones in
the coming months."
About Islet Sciences, Inc.
Islet Sciences is a development-stage biotechnology company with
patented technologies focused on infusion therapy for people with
insulin-dependent diabetes. The Company's infusion technology includes
methods for the culturing, isolation, maturation, and immunoprotection
(microencapsulation) of islet cells. The Company's mission includes the
introduction of commercial products relevant to the insulin dependent
diabetes marketplace including diagnostics and anti-inflammatory
compounds. For more information: www.isletsciences.com
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements for Islet Sciences reflect current
expectations, as of the date of this press release, and involve certain
risks and uncertainties. Actual results could differ materially from
those anticipated in these forward- looking statements as a result of
various factors. Factors that could cause future results to materially
differ from the recent results or those projected in forward-looking
statements include the risks described in the Islet Science's reports
filed with the Securities and Exchange Commission. The companies'
further development is highly dependent on future medical and research
developments and market acceptance, which is outside their control.
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