Now it would be a real milestone if we the walkers who support JDRF had some transperancy in what these milestones are but hey this is progress.Osiris Therapeutics Inc. (OSIR: News, Chart, Quote ) announced that it has achieved $2 million in milestone payments from the Juvenile Diabetes Research Foundation or JDRF for progress made on a Phase II clinical trial evaluating Prochymal, a mesenchymal stem cell or MSC therapy, for patients recently diagnosed with type 1 diabetes. The payments were triggered when Osiris accomplished certain clinical and regulatory milestones including initiating patient treatments.
Diabetes Mine is reporting Debiotech and STMicroelectronics have announced the first “evaluation prototypes” of the unique “highly miniaturized disposable insulin pump” they’ve been working on for several years.
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The transparency comes from being on a lay review committee with JDRF; anyone can be on it although seats are limited, so generally only those most active in their local chapters are considered. All decisions must go through not only the scientific review committee, but also the lay review committee and be approved by senior management -- so it is pretty transparent if you care to look. Personally, I would rather JDRF spent the money they have thrown at closed-loop systems towards startups like SmartCells, Inc. as that would all but eliminate the need for testing supplies, infusion sets and all the other costly and miscellaneous supplies that pump systems now require, but the company will need to complete Phase I human clinical trials before they can be eligible for grants.
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