Press Release, April 29, 2009
President and CEO Elisabeth Lindner comments on the second quarter:
Diamyd Medical is pursuing its product strategy: treat, prevent and cure
Today the President and CEO of Diamyd Medical commented in the company's
semi-annual report on the steady flow of good news that the company has reported
during the quarter, concerning five simultaneous trials in a total of ten
countries. After the reporting period the company received a capital injection
of MSEK 28, through subscriptions for new shares upon exercise of subscription
warrant DIAM TO 2B.
We continue to work diligently on treating, preventing and now also curing type
1 diabetes, three strategies that are complementary from a life cycle
perspective, and which are of great importance for the company's long-term
development, says Diamyd Medical President and CEO Elisabeth Lindner.
The European Phase III trial has been approved in large countries such as
Germany, France and Italy, speeding the rate of patient recruitment.
Two separate investigator initiated prevention studies, have been approved by
the regulatory agencies in Sweden and Norway. The studies' objectives are to
investigate the disease process of type 1 diabetes and to prevent the disease in
people at high risk of developing type 1 diabetes.
During the period the FDA also approved a combination study where the Diamyd®
vaccine is evaluated in combination with medication considered to stimulate the
growth of new insulin-producing beta cells. This study means that in addition to
treating and preventing diabetes, Diamyd Medical is now also evaluating the
vaccine's potential to cure the disease.
The European Phase III trial, where the Diamyd® vaccine is being tested in
children and adolescents with recent-onset type 1 diabetes, has now been
approved in all nine European countries where applications were submitted. At
the same time, Diamyd Medical is holding discussions with the regulatory
agencies about combining the American and European Phase III trials into one
global trial, with the objective of reducing costs and utilizing the countries
with the fastest rate of patient recruitment to the greatest extent.
During the second quarter Diamyd Medical also received approval from the Swedish
Medical Products Agency to continue following the children with type 1 diabetes
who were vaccinated with Diamyd® four years ago, with the objective of
confirming the long-term efficacy of the Diamyd® vaccine.
For additional information, please contact:
Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.)
Tel: +46 (0)8 6610026
For pictures and press material, please contact:
Alexandra Fleetwood, Director Communications Diamyd Medical AB (publ.),
alexandra.fleetwood@diamyd.com
Tel: +46 (0)8 661 0026
About Diamyd Medical
Diamyd Medical is a Swedish biopharmaceutical company focusing on the
development of pharmaceuticals for the treatment of autoimmune diabetes and its
complications. The company's most advanced project is the GAD-based drug Diamyd®
for type 1 diabetes. Phase III trials for this drug are in progress in both the
US and Europe. In addition, the Company has started clinical studies in the US
in the area of chronic pain, using its Nerve Targeting Drug Delivery System. The
Company has also out-licensed the use of GAD for the treatment of Parkinson's
disease.
Diamyd Medical has offices in Sweden and in the US. Shares are listed on the OMX
First North (ticker: DIAM B) and on OTCQX in the US (ticker: DMYDY) administered
by the Pink OTC Markets and the Bank of New York (PAL). Further information is
available on the company's website: www.diamyd.com.
This information is disclosed in accordance with the Swedish Securities Markets
Act, the Swedish Financial Instruments Trading Act, or the requirements stated
in the listing agreements.
Diamyd Medical AB (publ.)
Linnégatan 89 B, SE-115 23 Stockholm, Sweden. Tel: +46 (0)8 6610026, Fax: +46
(0)8 661 63 68
E-mail: info@diamyd.com. VAT no: SE556530-142001.
(www.omxnordicexchange.com ticker: DIAM B; www.otcqx.com ticker: DMYDY)
