PanCel Corp.

The majority of type I diabetics currently have only one treatment option—insulin injections. But, short of monitoring glucose every half hour, few patients are successfully able to control their blood sugar using such a blunt tool. As a result, insulin-dependent diabetes costs up to $100 billion in the US each year, because of the complications—heart failure, renal failure, blindness and stroke—resulting from poor glucose control.

Normally functioning beta cells in the pancreas are sensitive to glucose levels at all times and cause appropriate release of...