Islet Sciences Receives Notice of Claims Allowance for U.S. Patent Application for New Medications for Treating Diabetes and other Serious Inflammatory Disorders
NEW YORK--(BUSINESS WIRE)-- 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 the receipt of a Notice of Claims Allowance for its U.S. Patent Application No. 12/036,646. The title of the invention is Lisofylline Analogs and Methods for Use.
"This claims allowance for our U.S. patent application is another aspect to the value of our therapies which represents such a large market opportunity for the Diabetic community and our stakeholders," said John Steel, Chairman and CEO of Islet Sciences. "We are pleased to announce this significant milestone which clearly strengthens our value proposition."
The invention is based on the research of Timothy L. Macdonald, University of Virginia professor of chemistry and pharmacology, and Dr. Jerry L. Nadler, former chief of endocrinology and metabolism at the University of Virginia. Dr. Nadler is now Chair of Internal Medicine and Director of the Strelitz Diabetes Center at Eastern Virginia Medical School.
Dr. Jerry Nadler, MD, Founder of DiaKine Therapeutics Inc., a member of the Islet Sciences' Board of Directors and International Scientific Advisory Board stated, "The allowance of these claims is a wonderful positive step in helping to develop unique new drugs for unmet medical needs to treat type 1 and type 2 diabetes and related complications."
"This exciting discovery has the potential to treat patients living with diabetes, and this action by the U.S. Patent and Trademark Office shows that it is also groundbreaking," said Michael P. Straightiff, director of the U.Va. Licensing & Ventures Group. "I extend my congratulations to Tim, Jerry and the Islet Sciences team on their continued success in this area."
The Notice of Claims Allowance includes composition and methods of treating a disease or disorder comprising the step of administering an effective amount of a compound or a pharmaceutically acceptable salt thereof, wherein the disease or disorder is selected from the group consisting of atherosclerosis, type 1 diabetes, type 2 diabetes, disorders associated with visceral obesity, multiple sclerosis, inflammatory bowel disease, psoriasis, rheumatoid arthritis, and Alzheimer's disease, or any combination thereof.
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.
Islet Sciences Investor:
ProActive Capital Group
Jeff Ramson, 646-863-6893
KEYWORDS: United States North America New York
The article Islet Sciences Receives Notice of Claims Allowance for U.S. Patent Application for New Medications for Treating Diabetes and other Serious Inflammatory Disorders originally appeared on Fool.com.
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