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Thursday, June 26, 2008

Osiris Therapeutics : $2 Million Milestone Payment for Clinical Progress of a Stem Cell Therapy for Type 1 Diabetes

6-25-08 - Osiris Therapeutics, Inc. (NASDAQ:OSIR) announced that it has achieved $2 million in milestone payments from the Juvenile Diabetes Research Foundation (JDRF) for progress made on a Phase II clinical trial evaluating Prochymal, a mesenchymal stem cell (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... Osiris Therapeutics' Press Release -