Progenitor Cell Therapy (PCT), a unit of NeoStem’s cell therapy manufacturing, has entered an agreement to provide contract manufacturing and regulatory services related to the development of Islet Sciences’ PTM.
PTM is an injectable suspension of microencapsulated insulin-producing, pancreatic islet cells which are harvested from designated pathogen free pigs.
As per the deal, PCT will perform microencapsulation for parsing beta pancreatic islets for xenotransplantation using piglet pancreata.
Islet Sciences CEO John Steel said NeoStem has agreed to deal whereby PCT will subsidize manufacturing margin related to current services for Islet Sciences – PTM product in exchange for royalties on future sales, exclusive manufacturing rights for both clinical trial and commercial manufacturing and an equity stake in Islet’s parent.
“We recognize that PCT’s track record of developing cell therapies cost efficiently for cell therapy companies makes this a truly compelling opportunity in the industry,” said John Steel, CEO of Islet Sciences,” Steel added.
Islet Sciences is a biotechnology company focused on research, development and commercialization of patented technologies in the field of transplantation therapy for patients with diabetes.