Islet Sciences closes stock acquisition of diabetes drug developer DiaKine

26 March 2012

New York. USA-based biotech company Islet Sciences (OTC.BB: ISLT),said Friday that it has closed its previously-announced stock acquisition of DiaKine Therapeutics, a biopharmaceutical company developing new, proprietary drugs for unmet medical needs in diabetes and complications related to diabetes.

John Steel, chairman and chief executive of Islet Sciences, a company focused on the field of transplantation therapy for patients with diabetes, stated: "We are pleased to announce the closing of this acquisition and look forward to executing on the combined company's synergistic market opportunity in the diabetes space. Our approach to the treatment of diabetes in addition to other inflammatory diseases and autoimmune disorders represents a very large market.”

Deal positions Islet to capitalize on growing opportunities in diabetes

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