Islet Sciences Announces Exclusive License Agreement with the University of California (UCLA) to Commercialize Small Molecules for Islet Expansion
NEW YORK, Sept. 12, 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 the University of California to commercialize an invention for expanding pancreatic islets.
"In the course of research conducted at the University of California, Los Angeles, Dr. Anil Bhushan and Dr. Sangeeta Dhawan have developed a technology entitled 'small molecules for islet expansion,'" stated Dr. Jonathan Lakey, Islet Sciences Chief Scientific Officer. "We are pleased to work with UCLA in bringing this promising technology to the next level as we look to commercialize it to benefit the growing worldwide diabetic community."
John Steel, Chairman and CEO of Islet Sciences commented, "The company is pleased to add to its expanding diabetes franchise with complimentary technologies."
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.
Jeff Ramson, ProActive Capital Group
SOURCE Islet Sciences, Inc.