Diamyd Medical AB
President and CEO Elisabeth Lindner comments on the second quarter
Diamyd Medical AB / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- 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) News Source: NASDAQ OMX 29.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Diamyd Medical AB Sweden Phone: Fax: E-mail: Internet: ISIN: SE0000337917 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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