MicroIslet Appoints Dr. James R. Gavin III President and CEO
June 09 2006 - 4:26PM
PR Newswire (US)
Former President of the American Diabetes Association and
Internationally Recognized Diabetes Expert Has Served as
MicroIslet's Interim President and CEO Since January 2006 SAN
DIEGO, June 9 /PRNewswire-FirstCall/ -- MicroIslet, Inc. (AMEX:MII)
is pleased to announce today that Dr. James R. Gavin III, M.D.,
Ph.D, who was appointed Interim President and CEO of MicroIslet in
January 2006, has accepted the position of President and CEO of the
Company. Dr. Gavin has been a member of the Company's Board of
Directors since March of 2001. In accepting this role, Dr. Gavin
said, "I am highly encouraged by the enormous progress that
MicroIslet's strong scientific team has made towards the goal of
providing durable, effective islet cell replacement without
immunosuppression for people with Type I diabetes. My experience
with the Company during my tenure as Interim President and CEO has
bolstered my belief that MicroIslet has the potential to
revolutionize diabetes treatment. I am thrilled to be a part of
bringing this therapy to the clinical marketplace for the benefit
of the many patients in need." Dr. Gavin serves as Clinical
Professor of Medicine at Emory University School of Medicine,
Atlanta, GA; Executive Vice President for Clinical Affairs for
Healing our Village, LLC, a multifaceted health education/media
organization devoted to improving the management of chronic
diseases, especially in underserved groups; and as National
Director of the Harold Amos Medical Faculty Development Program. He
previously held numerous prestigious research and academic
positions, including Senior Scientific Officer at the Howard Hughes
Medical Institute (HHMI), Director of the HHMI-National Institutes
of Health Research Scholars Program, William K. Warren Professor
for Diabetes Studies and Acting Chief, Section of Endocrinology,
Metabolism and Hypertension at the University of Oklahoma Health
Sciences Center. In addition, Dr. Gavin has served as president of
the American Diabetes Association and as a member of several
editorial boards, including The American Journal of Physiology. He
is past chair of the National Diabetes Education Program and a
member of the Institute of Medicine of the National Academies of
Sciences. Among numerous awards, he has received the Banting Medal
for Distinguished Service from the American Diabetes Association.
Dr. Gavin serves as a director for several organizations including
Baxter International Inc., Amylin Pharmaceuticals, Inc. and Nuvelo
Pharmaceuticals, Inc. and is a member of the Boards of Trustees for
Livingstone College and Emory University. He holds a B.S. in
Chemistry from Livingstone College and a Ph.D. in Biochemistry from
Emory University, and received his M.D. at Duke University School
of Medicine. 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 further 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/. 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 ISIN US59507Q1067
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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