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MicroIslet Holds Positive Pre-IND Meeting for US Based Human Clinical Trial With FDA

Discusses Filing Requirements for the Company's Lead Product

                      Candidate, MicroIslet-P(TM)

SAN DIEGO--(BUSINESS WIRE)--Dec. 13, 2007--MicroIslet, Inc. (MIIS.OB, http://www.microislet.com), a biotechnology company engaged in the development and commercialization of transplantation therapies for diabetes, announced that it has met with the U.S. Food and Drug Administration (FDA) to discuss requirements for the filing of an Investigational New Drug (IND) application for MicroIslet-P(TM), a microencapsulated suspension of pancreatic islet cells.

As a result of the meeting, MicroIslet has clarified details of the development path for its xenotransplantation approach, which involves microencapsulation of insulin producing porcine islet cells. The Company's last meeting with the FDA in December 2006 related to a proposed IND for allotransplantation of microencapsulated human islet cells. The Company's current strategy is to proceed directly to human clinical trials of its xenotransplantation approach, which overcomes the inherently limited supply of human islets. The proprietary encapsulation methods used in MicroIslet-P(TM) are designed to shield the islet cells from immune system rejection, while the planned implantation procedures will be minimally invasive. The Company's pre-clinical testing to date has demonstrated a strong safety profile for xenotransplantation of porcine islets in rodents and non-human primates.

"MicroIslet appreciates the positive instruction and interactions we received in our pre-IND meeting with the FDA," said Michael J. Andrews, Chief Executive Officer of MicroIslet. "Their clear advice will greatly assist our IND application planned for the third quarter of 2008, and the subsequent initiation of MicroIslet's "first in man," U.S. clinical trial. Based on the meeting, we are excited that a regulatory path is in place for the initiation of MicroIslet's U.S.-based human clinical trials."

About MicroIslet-P(TM)

MicroIslet-P(TM) consists of microencapsulated porcine islets for implantation into the abdominal cavity using a minimally invasive procedure. Microencapsulation involves surrounding islet cells with formulations of a highly biocompatible, ultra-pure biopolymer, called alginate, or other similar biocompatible polymers. The alginate coating allows insulin, glucose, oxygen and other nutrients to diffuse freely, while blocking antibodies and reducing the patient's immune response to the implanted islet cells. It is hoped that MicroIslet-P(TM) will provide physiologic and self-regulating blood glucose control, thus reducing the need for insulin injections or infusions and constant blood glucose monitoring. The long-term complications associated with type 1 diabetes, such as peripheral neuropathies, heart and kidney disease, and skin disorders, may be mitigated by the tighter blood glucose control that would result from such a product.

About MicroIslet, Inc.

MicroIslet is a biotechnology company engaged in the research, development, and commercialization of patented technologies in the field of transplantation therapy for patients with insulin-dependent diabetes. MicroIslet has licensed several technologies from Duke University for isolation, culturing, storage, and microencapsulation of insulin-producing islet cells from porcine sources. The Company believes that these technologies, and other proprietary methods developed in-house, are significant advances in the field of transplantation. MicroIslet is exploring possible human clinical trials in both the U.S. and abroad. MicroIslet's ultimate goal is to offer cell transplantation therapies for diabetic patients worldwide.

Additional information about MicroIslet can be found at http://www.microislet.com.

Forward-Looking Statements

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including MicroIslet's need to raise substantial additional funds in order to fund its new strategy and continue as a going concern, the risks and uncertainties inherent in medical treatment discovery, development and commercialization, the risks and uncertainties associated with MicroIslet's early stage xenotransplantation technologies, the risks and uncertainties of governmental approvals and regulation, including foreign government approvals for clinical trials outside the United States, dependence on a sole source supplier of animal parts and a sole source manufacturer of encapsulated islets for pre-clinical and clinical studies, the risks that MicroIslet's competitors will develop or market technologies or products that are more effective or commercially attractive than MicroIslet's products, and other risks detailed from time to time in MicroIslet's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. MicroIslet disclaims any intent or obligation to update these forward-looking statements.

    CONTACT: The Investor Relations Group
             Daniel Berg/Conrad Mir
             Public Relations:
             Hayden Lynch/Janet Vasquez

    SOURCE: MicroIslet, Inc.
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