Osiris Therapeutics, Inc. today announced that it has achieved a $750,000 milestone payment from the Juvenile Diabetes Research Foundation (JDRF) for completing enrollment in a Phase II clinical trial evaluating Prochymal, an adult mesenchymal stem cell therapy, as a treatment for patients recently diagnosed with type 1 diabetes. The milestone is the fourth in a series of payments resulting from JDRF’s partnership with Osiris.JDRF funds Osiris through its Industry Discovery and Development Partnership program, in which JDRF provides funding to companies to advance promising treatments and cures for type 1 diabetes and its complications through the drug development pipeline.
