SAN DIEGO, July 5 /PRNewswire-FirstCall/ -- MicroIslet, Inc. (AMEX:MII) announced today that its stock has been added to the Russell Microcap(TM) Index.
"We are pleased with the inclusion of MicroIslet in the prestigious Russell Microcap Index," commented James R. Gavin III, M.D., Ph.D., MicroIslet's President and Chief Executive Officer. "With our proprietary microencapsulation techniques to address immune response to transplanted insulin-producing islet tissues, our exclusive supply of islets for the treatment of diabetes from the Mayo Foundation's designated pathogen-free pig facility, and encouraging data emerging from pre-clinical primate studies, we welcome heightened visibility for the progress we are making on a more effective treatment for diabetes. It is our hope that MicroIslet's inclusion in this index will increase our exposure to investors and institutions that rely on the Russell Indexes as a key part of their investment strategies." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 billion in assets and advises clients worldwide representing more than $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.
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 potential benefits of the addition of the Company's stock to the Russell Microcap Index, 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 MicroIslet's ability to 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, dependence on the Mayo Foundation for Medical Education and Research as a sole source supplier of designated pathogen free pigs 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.
For more information, please visit our Web site at http://www.microislet.com/ .
Contacts: Kevin A. Hainley, Interim Chief Financial Officer
MicroIslet, Inc. 858-657-0287, OR: Sean Collins, Senior Partner
CCG Investor Relations & Strategic Communications
310-231-8600 ext. 202
DATASOURCE: MicroIslet, Inc.
CONTACT: Kevin A. Hainley, Interim Chief Financial Officer of MicroIslet, Inc., +1-858-657-0287, ; or Sean Collins, Senior Partner of CCG Investor Relations & Strategic Communications, +1-310-231-8600, ext. 202, for MicroIslet, Inc.
Web site: http://www.microislet.com/
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