Posted by Steve on July 03, 2003 at 12:16:53:
MicroIslet Receives Funding from Juvenile Diabetes Research Foundation
Monday June 30, 8:02 am ET
SAN DIEGO, June 30 /PRNewswire-FirstCall/ -- MicroIslet, Inc. (OTC Bulletin Board: MIIS), a developer of transplantation therapies for insulin-dependent diabetes, today announced that the Juvenile Diabetes Research Foundation (JDRF) has provided $250,000 in funding to the Company to support ongoing preclinical studies at MicroIslet and The Scripps Research Institute.
MicroIslet's goal is to be the leading developer of cell transplantation technologies for the treatment of insulin-dependent diabetes. This funding will accelerate the Company's ability to evaluate its encapsulation technology for treatment of this devastating disease.
"These funds will support MicroIslet's continuing efforts to further our technology and advance the development of cell therapies in the fight against insulin-dependent diabetes," stated Dr. Haro Hartounian, MicroIslet's President. "MicroIslet is very excited about the relationship with JDRF and looks forward to collaborating further in the future."
As part of this transaction, MicroIslet will issue 500,000 shares of common stock to JDRF.
The securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.