“The additional capital allows us to negotiate agreements without
financial pressure and gives us freedom to choose the best time-point
for out-licensing of Diamyd®.”
In her comments in today’s quarterly report Elisabeth Lindner, President
and CEO of Diamyd Medical (STO:DIAMB), says that the Company’s objective
is to file the Diamyd® diabetes vaccine for market approval in 2011 - a
goal that isn’t very far off now.
During the first quarter Diamyd Medical has reported several important
events that have contributed positively to the Company’s development.
The financial position has been strengthened through an oversubscribed
preferential rights issue, which brought in just over MSEK 219 before
issue expenses.
The European Phase III study with Diamyd® has been fully recruited
meaning that the first results from the study can be reported during
spring 2011. A recruitment campaign for the US study has been launched
together with the recruitment firm Inclinix under the name DiaPrevent,
and the number of patients recruited for the study is increasing at a
fast pace.
”The past quarter has been very eventful for Diamyd where the most
important have been the completion of enrolment for the European Phase
III study and the successful financing of the Company beyond study
results,” says Elisabeth Lindner, President and CEO of Diamyd Medical.
“The additional capital allows us to negotiate agreements without
financial pressure and gives us freedom to choose the best time-point
for out-licensing of Diamyd®.”
The Company’s gene therapy platform NTDDS (Nerve Targeting Drug Delivery
System) has received additional focus during the quarter as the US
Department of Veterans Affairs (VA) has awarded a two-year grant of USD
1.84 million to support the development.