SAN DIEGO--(BUSINESS WIRE)--MicroIslet Inc. (OTCBB: MIIS, http://www.microislet.com), a biotechnology company engaged in the development and commercialization of cell therapies for diabetes, has appointed Brian D. Conn to the positions of Vice President Corporate Finance and Chief Financial Officer.
Mr. Conn has served as a financial executive in high growth companies for over twenty years. He has extensive experience with M&A and capital transactions. Since 2000, Mr. Conn has held executive positions, including Chief Financial Officer, with Chemicon International, Serologicals Corporation, and Millipore Corporation. From 1995 to 2000, Mr. Conn was Vice President of Finance and Corporate Controller for Vista Information Solutions, Inc., an Internet-based real estate information supplier. From 1988 to 1995, Mr. Conn served various financial and executive roles in healthcare and real estate companies. Mr. Conn holds a BS in Finance from Arizona State University.
“Brian brings with him over twenty years of broad financial experience and his extensive knowledge will help strengthen the MicroIslet team as we move forward with our planned IND submission and first human dosing by year end,” said Michael J. Andrews, Chief Executive Officer of MicroIslet.
"I am excited to join the team at MicroIslet as they develop their innovative approach to diabetes treatment," said Brian Conn. "MicroIslet’s products may one day provide an alternative to daily insulin injections, and mitigate the debilitating effects of diabetes for millions of people. I’m very happy to be a part of those goals."
About MicroIslet, Inc.
MicroIslet is a biotechnology company engaged in the research, development, and commercialization of patented technologies in the field of cell 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 cellular therapeutics. MicroIslet is planning human clinical trials in the U.S., and exploring possible trials abroad. MicroIslet’s ultimate goal is to offer cell transplantation therapies for diabetic patients worldwide.
The Company’s lead product, MicroIslet-PTM, 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-PTM 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.
Additional information about MicroIslet can be found at http://www.microislet.com.
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 working capital deficit, which includes a substantial amount of indebtedness which is matured and due on demand; MicroIslet’s need to raise substantial additional funds in order to fund its development plan 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.