Deal will enable porcine islet cell product to move into Phase I trials.
Neostem’s Progenitor Cell Therapy (PCT) subsidiary inked a service agreement to provide Islet Sciences with technology, manufacturing, and services to support development of the latter’s encapsulated porcine islet cells product for treating diabetes. Islet says it plans to file an IND with FDA this year to allow the start of clinical trials, and the deal with PCT represents an integral part in preparing for and initiating Phase I studies.
“Progenitor Cell Therapy is the perfect partner for Islet Sciences as it embarks on developing a practical and effective treatment for type 1 diabetes,” remarks John Steel, Islet CEO. “With over 13 years invested in research and development, we are confident in our science and our approach, and prepared to move to the next level.”
Islet is focused on developing transplantation therapies for type 1 diabetes, based on expertise in the culturing, isolating, maturing, and microencapsulation of islet cells. The firm was merged into a subsidiary of One E-Commerce last week.
Neostem acquired PCT through a stock-based merger deal announced in September 2011. The firm offers services to support the development and commercialization of cell therapies including cGMP-compliant cell manufacturing and consulting services, tissue collection, processing and storage, along with support for process and product development and validation.