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news.Osiris Therapeutics has received $2 million in milestone payments from the Juvenile Diabetes Research Foundation for progress made on a Phase II clinical trial evaluating Prochymal, a mesenchymal stem cell therapy, for patients recently diagnosed with type 1 diabetes.
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The payments were triggered when Osiris accomplished certain clinical and regulatory milestones including initiating patient treatments.
Jay Skyler, professor of medicine and associate director of the Diabetes Research Institute at the University of Miami, said: “Our ultimate goal with this research is to develop a treatment that we could give a patient at the onset to safely halt progression of the disease and preserve enough islet cell function to avoid the need for insulin administration all together.”