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03/13/14 - $0.95
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islet sciences inc (ISLT) Details

Islet Sciences, Inc., a biotechnology company, is engaged in the research, development, and commercialization of new medicines and technologies for the treatment of metabolic diseases and related indications covering unmet medical needs. The company offers ISLT-P, an implantable suspension of encapsulated insulin-producing porcine islet cells for the treatment of insulin-dependent diabetes; ISLT-2669, a novel lead IL-12 small molecule inhibitor selected for preclinical development for treatment of type 2 diabetes; and ISLT-LSF Analogs, a library of small molecule lisofylline analogs that block inflammatory actions of cytokines, which destroy insulin-producing beta cells for diabetes and diabetes-related complications. It is also involved in developing ISLT-Bdx, a PCR based molecular diagnostic measuring hypomethylated beta cell-derived DNA as a biomarker of beta cell loss for the early detection of type 1 diabetes or onset of insulin dependent type 2 diabetes. In addition, the company develops Remogliflozin, a selective SGLT2 inhibitor in Phase II clinical development for type 2 diabetes and nonalcoholic steatohepatitis. Islet Sciences, Inc. was founded in 2010 and is based in Raleigh, North Carolina.

3 Employees
Last Reported Date: 07/28/14
Founded in 2010

islet sciences inc (ISLT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $75.0K
Chief Operating Officer, Director and Chairma...
Total Annual Compensation: $75.0K
Compensation as of Fiscal Year 2014.

islet sciences inc (ISLT) Key Developments

Islet Sciences, Inc. Announces Board Changes

On November 1, 2014, Eric Barnett resigned as a director of Islet Sciences, Inc. and on November 2, 2014, Mr. Barnett reconsidered his decision to resign and was again appointed to the company's board of directors to fill the vacancy created by his resignation.

Islet Sciences Signs Deal with Libbs Farmaceutica for Type 2 Diabetes Treatment

Islet Sciences signed a licensing agreement with Libbs Farmaceutica to develop and commercialise experimental type 2 diabetes treatment remogliflozin. Under the terms of the agreement, Libbs will pay a USD 1.5-million up-front licensing fee and will commit a substantial portion of a Phase IIb trial to test remogliflozin in humans. In addition, Islet Sciences and Libbs have agreed to a royalty and profit-share model in which Islet Sciences will receive a percentage of either net sales or net profit that Libbs generates in Latin America.

Islet Sciences, Inc. Receives Notice of Allowance for U.S. Patent Covering Novel II-12 Inhibitors

Islet Sciences, Inc. announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for its patent application titled, "Lisofylline Analogs and Methods for Use." The new patent (U.S #13/477,613) will extend coverage to include a significantly broader gamut of chemical compounds, which Islet may develop as immune-modulating drugs targeting an inflammatory pathway involved in a number important diseases, including diabetes and nonalcoholic steatohepatitis (NASH). Lisofylline (LSF) and its analogs have been shown to inhibit activation of pro-inflammatory immune signaling molecules IL-12 and STAT4, but clinical utility of these compounds has been limited by poor drug qualities. Islet Sciences is working to identify and develop first-in-class LSF analogs with superior chemical properties suitable for commercial drug development. Initial screens uncovered first-generation IL-12 antagonists able to protect insulin-producing beta-cells and preserve islet function in vitro, as well as delay onset of type I diabetes in a mouse model. Additional studies showed these immune modulators may directly reduce liver fibrosis in a rat model of NASH. The parent molecule, LSF, has also been examined in three human clinical studies where it was well tolerated with no serious adverse events. This patent allowance further strengthens dominant intellectual property position by broadening the scope of compounds can develop as IL-12 antagonists, and in effect, potentially broadening the types of diseases it may be able to address. In addition to diabetes and NASH, other studies suggest IL-12 inhibitors may be effective for atherosclerosis, diabetic nephropathy, and other diseases.


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