Osiris Therapeutics, Inc.
Osiris Achieves Milestone Payment for Progress Developing Stem Cell Therapy for Type 1 Diabetes
Published in Medical Letter on the CDC and FDA, August 16th, 2009
Osiris Therapeutics, Inc. (NASDAQ:OSIR) announced that it has achieved a $750,000 milestone payment from the Juvenile Diabetes Research Foundation (JDRF) for progress made on a Phase II clinical trial evaluating Prochymal, an adult mesenchymal stem cell (MSC) therapy, as a treatment for patients recently diagnosed with type 1 diabetes. The payment was triggered after one-half of the patients in the 60-participant study were enrolled, a milestone in the funding agreement with the JDRF. The trial is also being expanded to include pediatric patients, opening enrollment to patients between 12 and 35 years of age. Osiris and the JDRF entered into a partnership in 2007 for the development of...
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