Osiris has received a $750,000 milestone payment from the Juvenile Diabetes Research Foundation (JDRF), for progress made on a phase II clinical trial. The study is to evaluate Prochymal, an adult mesenchymal stem cell (MSC) therapy, as a treatment for patients recently diagnosed with type 1 diabetes.
Reportedly, 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.
Moreover, the trial is also being expanded to include pediatric patients, opening enrollment to patients between 12 and 35 years of age.
Randal Mills, president and CEO of Osiris, said: “We are proud to be working alongside the JDRF in this landmark trial to evaluate the role of mesenchymal stem cells in patients with type 1 diabetes,”
“Caring for kids with limited medical options is a very special part of life at Osiris and we take that responsibility seriously. The progress we are making in this clinical program is remarkable and would not be possible without our patients, clinical teams, and the FDA’s thoughtful and responsive assistance,” he added.