Islet Sciences Announces Exclusive License Agreement with Yale University to Commercialize an Early Beta Cell Destruction and Diabetes Diagnostic
NEW YORK, May 7, 2012 /PRNewswire/ -- Islet Sciences, Inc., (OTCBB: ISLT) a biotechnology company engaged in the research, development and commercialization of patented technologies in the field of transplantation therapy for patients with diabetes, today announced that it has exclusively licensed technology from Yale University.
"In the course of research conducted under Yale auspices, Dr. Kevan Herold and his colleagues at Yale University School of Medicine have developed a technology entitled 'Circulating hypomethylated B cell-derived DNA' as a biomarker of B cell destruction," said John Steel, Chairman and CEO of Islet Sciences. "We are excited to utilize this groundbreaking invention as we look to commercialize it to benefit the growing worldwide diabetic community. This test has the potential to identify beta cell death and emerging diabetes far earlier than clinical presentation."
"The opportunity to identify diabetes and islet dysfunction prior to clinical presentation could be beneficial therapeutically," said Dr. Kevan Herold. "I am looking forward to working with Islet Sciences to commercialize this technology that clearly holds so much potential."
Clusters of beta cells form islets within the pancreas. Diminished beta/islet cell function which can be caused by numerous factors, is one of the primary causes of insulin dependent diabetes. Insulin dependent diabetes is the more difficult aspect of the disease.
Jonathan Soderstrom, director of the Office of Cooperative Research at Yale commented, "We are pleased that Islet Sciences has made the decision to invest in this discovery and look forward to developing it into a valuable new tool for treating this debilitating disease."
About Islet Sciences, Inc.
Islet Sciences is a development-stage biotechnology company with patented technologies focused on transplantation therapy for people with insulin-dependent diabetes. The Company's transplantation technology includes methods for the culturing, isolation, maturation, and immunoprotection (microencapsulation) of islet cells. The Company's mission includes the introduction of commercial products with applications to cell-based replacement therapy in the healthcare marketplace. 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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