Fund invests 35 MSEK in Diamyd
Diamyd Medical has accepted an offer from an investment fund managed from New
York by a Swedish-American team to issue 291,667 new B shares in a direct
placement at 120 SEK per share. The issue price corresponds to the average
market price of the past 30 trading days. Total proceeds for Diamyd amounts to
35 MSEK.
“We welcome an additional investor with a long term horizon to our list of major
shareholders,” says Elisabeth Lindner, CEO and President of Diamyd Medical.
“This new capital allows us to create shareholder value in areas outside our
Phase III program, in line with our objective to create a ‘Small Pharma Company'
in the diabetes field.”
The company's current funds are dedicated to finance the ongoing Phase III
program of the diabetes vaccine Diamyd®, where results are expected during
spring 2011. Diamyd is regularly evaluating new external and internal projects
that could enhance the project pipeline or expand the applications of existing
projects. With the additional capital the company can act fast when attractive
opportunities arise.
After registration of the new issue the number of shares in Diamyd will amount
to 29,000,105 divided into 1,437,876 shares of series A (1 vote) and 27,562,229
shares of series B (1/10 vote). The new shares represent 1.0 % of the capital
and 0.7 % of the votes. The Board of Diamyd decided on the new issue based on
the authorization given by the Annual General Meeting on December 11, 2009.
For more information, please contact:
Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.)
Phone: +46 8 661 0026
For pictures and press material, please contact:
Andreas Ericsson, Diamyd Medical AB (publ.)
andreas.ericsson@diamyd.com
Phone: +46 8 661 0026
About Diamyd Medical
Diamyd Medical is a Swedish diabetes 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 Europe and the
US. In addition, the company has initiated clinical studies in the US in the
area of chronic pain, using its Nerve Targeting Drug Delivery System (NTDDS).
The company has also out-licensed the use of GAD for the treatment of
Parkinson's disease. The company currently has three clinical-phase products.
Diamyd Medical has offices in Sweden and in the US. Shares are listed on Nasdaq
OMX in Stockholm (ticker: DIAM B) and on OTCQX in the US (ticker: DMYDY)
administered by the Pink OTC Markets and the Bank of New York Mellon (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.)
Karlavägen 108, SE-115 26 Stockholm, Sweden. Tel: +46 (0)8 6610026, Fax: +46
(0)8 661 63 68
E-mail: info@diamyd.com. VAT no: SE556530-142001.
