MicroIslet Added to Russell Microcap(TM) Index
July 05 2006 - 9:30AM
PR Newswire (US)
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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