NEW YORK, Sept. 4, 2012 /PRNewswire/ -- Islet Sciences, Inc., (OTC.BB: ISLT) a biotechnology company engaged in the research, development and commercialization of patented technologies in the field of transplantation therapy for patients with diabetes, today announced that the company has named Richard A. Franco, Sr. to its Board of Directors.
Richard A. Franco is the President of the Richard's Group, Ltd., a healthcare advisory firm and cofounder of LipoScience, Inc. He has over 35 years of executive and leadership experience in the healthcare industry. Since January 2009, Mr. Franco had served as Chairman, President and Chief Executive Officer of DARA Pharmaceuticals, Inc. Prior to that, he served in several senior executive capacities at Glaxo, Inc., DARA, LipoScience, Inc., Trimeris Inc. with over 16 years with Eli Lilly and Company. He is currently on the boards of Metropolitan Health Networks, Inc., and Research Triangle Chapter of the National Association of Corporate Directors (NACD) and served on the boards of Salix Pharmaceuticals, as well as TriPath Imaging, Inc., NeoMatrix, Inc., Tranzyme, Inc., EntreMed, Inc., Amarillo Biosciences, and the Wake County United Way. He received a B.S. in Pharmacy from St. John's University and has completed executive programs at the Wharton School of the University of Pennsylvania, Duke University Fuqua School of Business, the School of Business at the University of Michigan, Tuck School of Business at Dartmouth College and the Kellogg School of Management at Northwestern University.
"Richard brings a distinguished career and important skill sets to our Board of Directors and we welcome his insights as we mature as a public company," said John Steel, Chairman and CEO of Islet Sciences. "Richard's significant experience and success both operationally and as a Director is a perfect fit for our company as Islet Sciences works toward a new treatment modality for diabetes. We look forward to Richard's counsel and expertise in driving the success of Islet Sciences forward."
About Islet Sciences, Inc.
Islet Sciences is a development-stage biotechnology company with patented technologies focused on transplantation therapy for people with insulin-dependent diabetes. The Company's transplantation technology includes methods for the culturing, isolation, maturation, and immunoprotection (microencapsulation) of islet cells. The Company's mission includes the introduction of commercial products with applications to cell-based replacement therapy in the healthcare marketplace. www.isletsciences.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements for Islet Sciences reflect current expectations, as of the date of this press release, and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the risks described in the Islet Science's reports filed with the Securities and Exchange Commission. The companies' further development is highly dependent on future medical and research developments and market acceptance, which is outside their control.
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SOURCE Islet Sciences, Inc.