Today, One E-Commerce Corp. wholly-owned subsidiary, Islet Sciences, Inc. a development-stage biotech firm with key intellectual property in transplantation therapy for insulin-dependent diabetics, reported signing an important services agreement with wholly-owned subsidiary of leading custom-tailored cell therapy developer/manufacturer NeoStem Inc., Progenitor Cell Therapy.
Progenitor provides complete cGMP-compliant manufacturing capabilities and consulting services which allow for supreme mastery over development and commercialization aspects related to pioneering new therapies. Progenitor delivers full-spectrum support covering all aspects of the process from early infancy in product development, through to end-phase operations like manufacturing, storage and transportation of cell products.
This key agreement will see Progenitor handling the appropriate logistical requirements (protocols, procedures, equipment, manufacturing, quality control and distribution, etc.) for the development/commercialization of Islet’s revolutionary Type I diabetes treatment, an encapsulated porcine islet cell-based approach that shows real potential.
The market potential of a Type I diabetes treatment is obvious and the Company is moving quickly to file with the FDA, preparing an IND for this year. This agreement then is a huge step towards crystallizing the technology and creating the commercial springboard required to launch the eventual product into the stratosphere. Indeed, Phase I clinical trials are currently in planning and Islet is very excited to move forward with what is arguably some of the most interesting technology to emerge in the diabetes space.
CEO of Islet Sciences, John Steel, boldly spoke of his confidence in the science and technology underlying this treatment, which has been refined at Islet over the last 13 years. Steel called Progenitor the perfect partner for advancing this important technology towards commercialization and reminded investors of the potential an effective treatment for Type I diabetes would have. Steel also hailed the reputation Progenitor has earned for their expertise and ability to consistently deliver full support for nurturing precisely such innovative cell therapy services to fruition.
Chairman and CEO of NeoStem, Robin L. Smith, MD, MBA, pledged to bring the full range of support services available to bear on the task at hand and called the move a “great opportunity for Progenitor Cell Therapy”, not only to meet the vast and growing unmet needs of the some 25.8M people in the US alone who suffer from diabetes (ADA), but to prove just how capable the organization truly is.
Islet filed an 8-K with the SEC on Jan 6, announcing closing of the deal.
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