SAN DIEGO, March 21 /PRNewswire-FirstCall/ -- MicroIslet, Inc. , a biotechnology company engaged in the research, development and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes, today announced the appointment of Bertram Walls, MD, as an independent member of its Board of Directors. The Board of Directors now consists of eight directors, four of whom are independent.
Dr. Walls is President and Chief Executive Officer of Plexus Consulting Group, LLC, of Durham, North Carolina, a comprehensive healthcare and business solutions consulting and advisory company whose target market consists of health systems, pharmaceutical companies, and large physician groups. He is also President of Phoenix Obstetrics/Gynecology, LLC, a women's health center with offices in Durham, North Carolina and Ft. Lauderdale, Florida. He holds an MBA and an MD from Duke University.
"We are fortunate to have a medical professional with Dr. Walls' tremendous business background join our Board," said Dr. James R. Gavin III, Interim President and Chief Executive Officer of MicroIslet, Inc. "He brings to us not just extensive expertise in the clinical side of medicine, but also important exposure to all aspects of the business of medicine, including considerable consulting and advisory experience. These will be important resources for us as we look to take our proprietary and patented technologies to market to help people with insulin-dependent diabetes."
The company also announced that as a result of the appointment of Dr. Walls, the company has received a letter from the American Stock Exchange (AMEX) stating that the company has resolved the continued listing deficiency previously associated with the board composition. The company has been informed by the American Stock Exchange that the extension ".BC" will be removed from the company's trading symbol as soon as practicable.
About MicroIslet
MicroIslet is a biotechnology company engaged in the research, development, and commercialization of patented technologies in the field of transplantation therapy for people with insulin-dependent diabetes. MicroIslet's patented islet transplantation technology, exclusively licensed from Duke University, includes methods for isolating, culturing, cryopreservation, and immuno-protection (microencapsulation) of islet cells. MicroIslet is working to develop and commercialize a first product, called MicroIslet-P(TM), a microencapsulated porcine islet cell suspension that will be used for transplantation in patients with insulin-dependent diabetes. 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, including the expectation of development of new therapeutic products and the impact of MicroIslet's products on diabetes patients, 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 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, dependence on the Mayo Foundation for Medical Education and Research as a sole source supplier of animal parts for pre-clinical and clinical studies, MicroIslet's need to raise substantial additional capital to proceed through human clinical trials and bring any product to market, 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.
ISIN: US59507Q1067
For more information, please visit our Web site at http://www.microislet.com/.
For further information, contact:
Kevin A. Hainley, MicroIslet Inc.
858-657-0287,
