Islet Sciences Announces DiaKine Therapeutics' Novel Diabetes - $ISLT

Islet Sciences, Inc., (OTCBB: ISLT) is a biotechnology company engaged in the research, development and commercialization of patented technologies in the field of transplantation therapy for patients with diabetes.The company is based on prior technology that originated from islet biosciences. The company is pioneering the use of porcine (pig) islet cells encapsulated in an algenate bubble and transplanted into type 1 diabetics that will then function to produce insulin. The potential of this therapy to change the diabetes paradigm could be dramatic.

Today they announced that its subsidiary DiaKine Therapeutics Inc. received European patent protection. The drugs are small molecules that can be used to treat diabetes, atherosclerosis and other inflammatory diseases.

The European patent (#1919867), issued on March 16, 2012, covers the composition and methods of use of orally active drugs with a novel mechanism to reduce autoimmunity and inflammation. In particular, the small molecules have the potential to protect insulin-producing cells from inflammation, reduce insulin resistance, and prevent or treat cardiovascular disease, making them ideally suited for the treatment of type 1 and type 2 diabetes, atherosclerotic cardiovascular disease and other conditions associated with activation of the body's Interleukin 12/STAT4 Pathway.

"Inflammation is a major link associated with the development of diabetes and its complications," said Dr. Jerry L. Nadler, the company's chief science officer and chairman of the board. "This European patent strengthens DiaKine's ability to address diabetes and to meet a medical need for the treatment other inflammatory diseases, such as atherosclerosis and autoimmune disorders."

"This patent issuance is a clear testament to the value of our therapies which represents a large market opportunity for Islet Sciences," said John Steel, Chairman and CEO of Islet Sciences. We are pleased to announce this milestone which clearly strengthens our value proposition."

The compounds were first developed at the University of Virginia and licensed to DiaKine by the U.Va. Patent Foundation (now the U.Va. Licensing & Ventures Group) http://www.innovation.virginia.edu.

See the full press release @ Yahoo Finance