Progenitor Cell Therapy (PCT) the cell therapy manufacturing division of NeoStem, entered an agreement to provide contract manufacturing and regulatory services for the development of Islet Sciences’ PTM, an injectable suspension of microencapsulated insulin-producing, pancreatic islet cells harvested from pathogen-free pigs. PCT will perform microencapsulation for pancreatic islets for xenotransplantation using piglet pancreata. Islet Sciences, a biotech company engaged in R&D and commercialization of technologies in the field of transplantation therapy, is a wholly-owned subsidiary of One E-Commerce Corp.
 
John Steel, chief executive officer of Islet Sciences, commented, “Given the robust market opportunity and the potential for cell therapy to alter the disease paradigm, NeoStem has agreed to this novel arrangement 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.”