SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
___________________
Date of Report (Date of earliest event reported) January 25, 2000
BIOCONTROL TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Pennsylvania 0-10822 25-1229323
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
300 Indian Springs Road, Indiana, Pennsylvania 15701
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (412) 349-1811
_________________________________________________________________
(Former name or former address,
if changes since last report.)
Item 1. Change in Control of Registrant.
Not applicable.
Item 2. Acquisition or Disposition of Assets.
Not applicable.
Item 3. Bankruptcy or Receivership.
Not applicable.
Item 4. Changes in Registrant's Certifying Accountant
Not applicable.
Item 5. Other Events.
Biocontrol Technology, Inc. subsidiary, Diasensor.com,
Inc., in conjunction with MicroIslet, Inc, of San
Diego, CA, is pleased to announce an alliance that has
been initiated with a strategic investment by
Diasensor.com into MicroIslet. With an initial equity
investment of $500,000, Diasensor.com will receive a
10% stake with an option to purchase an additional 10%
in the future. Diasensor.com's investment in
MicroIslet demonstrates a commitment of the company and
its parent, Biocontrol Technology, to work towards a
cure for diabetes and improved quality of life for
those who suffer from the disease.
Item 6. Resignation of Registrant's Directors.
Not Applicable
Item 7. Financial Statement, Pro Forma Financial Information and Exhibits.
(a) Financial Statements and Businesses Acquired - Not Applicable.
(b) Pro Forma Financial Information - Not Applicable.
(c) Exhibits - Press Release.
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act
of 1934, the Registrant has duly caused this Report to be signed
on its behalf by the undersigned hereunto duly authorized.
BIOCONTROL TECHNOLOGY, INC.
by /s/ Fred E. Cooper
Fred E. Cooper, CEO
DATED: January 25, 2000
BICO
BIOCONTROL TECHNOLOGY, INC
2275 Swallow Hill Road, Building 2500
Pittsburgh, PA 15220
Press Release
Investors Media
Diane McQuaide Susan Taylor
1.412.429.0673 phone 1.412.429.0673 phone
1.412.279.9690 fax 1.412.279.5041 fax
BIOCONTROL TECHNOLOGY, INC.'S SUBSIDIARY, DIASENSOR.COM, INVESTS
IN MICROISLET, INC. TO FIND A CURE FOR DIABETES
Pittsburgh, PA - January 25, 2000 - Biocontrol Technology,
Inc. (OTCBB:BICO) subsidiary, Diasensor.com, Inc., in
conjunction with MicroIslet, Inc. of San Diego, CA, is pleased to
announce an alliance that has been initiated with a strategic
investment by Diasensor.com into MicroIslet. With an initial
equity investment of $500,000, Diasensor.com will receive a 10%
stake with an option to purchase an additional 10% in the future.
MicroIslet has licensed several technologies from Duke
University that have been developed over the last decade by Dr.
Emmanuel Opara, Ph.D., Director of Islet Transplant Research at
the Duke Medical Center. The Duke/MicroIslet technology is
unique in that it is a comprehensive multi-disciplinary system
developed with the goal of curing insulin dependent diabetes.
Optimization of the microencapsulated islet for transplantation
is the focus of the Duke/MicroIslet effort. Dr. Opara and his
staff have demonstrated a proprietary methodology for the
isolation, culture, storage, and immunoprotection of islet cells.
Diasensor.com's investment in MicroIslet demonstrates a
commitment of the company and its parent, Biocontrol Technology,
to work towards a cure for diabetes and improved quality of life
for those who suffer from the disease. Diasensor.com owns the
patent, marketing and distribution rights to the Diasensorr2000
noninvasive glucose monitor currently in the FDA approval
process. Biocontrol Technology developed and manufactures the
monitor.
More than 16 million people in the U.S. are currently living
with diabetes, and approximately 4 million of these people
require daily insulin therapy to help them manage their
disease. People with Type I diabetes do not produce any
insulin because the insulin producing beta cells have been
destroyed by autoimmune reaction. People with Type I
diabetes require self-monitoring of blood glucose, a strict
diet, and constant administration of insulin. Although
people with Type II diabetes produce some insulin, a
significant percentage of these patients also require
insulin injections. These populations would benefit the
greatest from transplanted islets to restore normally
functioning, insulin producing cells instead of only
treating symptoms of the disease. It is estimated that in
excess of 100 billion dollars is spent annually in the U.S.
on both the direct and indirect costs related to diabetes.
John F. Steel IV, President & CEO of MicroIslet stated that
current funding activity is to be used for expanded pre-clinical
research in non-human primates at the Duke University Medical
Center and other corporate purposes. Mr. Steel, who has Type I
diabetes, further commented that reducing or eliminating that
need for frequent insulin injections and blood-glucose monitoring
would be a major milestone in the day-to-day management of
diabetes. "A curative therapy has the potential to dramatically
reduce the burden the diabetes epidemic is placing on the
national health care system."
Fred E. Cooper, CEO of Biocontrol Technology, Inc., added
that the early stage investment in MicroIslet allows
Diasensor.com to expand on its diabetes interests with a
technology that may potentially provide a cure for insulin
dependent diabetes.
Biocontrol Technology has its corporate offices in
Pittsburgh, PA and is involved in the development and
manufacture of biomedical devices and environmental
products. Biocontrol owns 52% of Diasensor.com, which is
also located in Pittsburgh, PA.
WEBSITE: www.bico.com
INVESTOR RELATIONS NEWSLINE NUMBER: 1.800.357.6204