MicroIslet Appoints Bertram Walls, MD, to Board of Directors
March 21 2006 - 5:13PM
PR Newswire (US)
Regains Compliance With American Stock Exchange Continued Listing
Standards SAN DIEGO, March 21 /PRNewswire-FirstCall/ -- MicroIslet,
Inc. (AMEX:MII), 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, Sean Collins, Partner CCG Investor Relations &
Strategic Communications 310-231-8600 ext. 202 DATASOURCE:
MicroIslet, Inc. CONTACT: Kevin A. Hainley of MicroIslet Inc.,
+1-858-657-0287, ; or Sean Collins, 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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