Islet Sciences Announces Exclusive License Agreement with Winthrop University Hospital to Commercialize a Beta Cell Loss Measurement Technology in Diabetes
NEW YORK, Sept. 10, 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 Winthrop University Hospital. This technology is complimentary to the early Beta cell destruction diagnostic that Islet Sciences licensed last month.
"In the course of research conducted under Winthrop University Hospital, Dr. Eitan Akirav and his colleagues at Winthrop have developed a technology entitled Method for Using Probe Based PCR Detection to Measure the Levels of Circulating Demethylated Beta Cell Derived DNA as a Measure of Beta Cell Loss in Diabetes," stated John Steel, Chairman and CEO of Islet Sciences. "We are pleased to bring this groundbreaking technology to the next level as we look to commercialize it to benefit the growing worldwide diabetic community. There has been a long-felt need for a method capable of accurately evaluating Beta cell death so as to improve disease diagnosis, allow for disease staging, and provide a better evaluation of clinical treatment efficacy. The method can identify Beta cell death before the onset of hyperglycemia and soon after the onset of T1D."
"The method provides a noninvasive approach for detecting Beta cell death in vivo that may be used to track the progression of diabetes and guide its treatment," said Dr. Eitan Akirav, Research Scientist at Winthrop University Hospital. "I am excited to work with Islet Sciences to bring this technology to market which clearly has so much potential. The method uses a stepwise detection and analysis of Beta cell and non-Beta cell derived insulin DNA. The key principle behind the method is the existence of unique DNA methylation patterns in the Beta cells that are absent from other cells in the body."
Alan M. Jacobson, MD, Chief Research Officer, Director of the Diabetes, Obesity and Cardiometabolic Research Center and Senior Scientist, Winthrop University Hospital Research Institute commented, "We look forward to working with Islet Sciences as they invest in this discovery and develop it into a valuable new tool for treating this life altering 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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SOURCE Islet Sciences, Inc.