Diamyd a VERY, very nice prey. The deal coming up soon might surprise the diabetesmarket and those who never heard of Diamyd. CEO said thursday they are in the final stages with a number of potential partners ...Note: all forecasts from her before turned out to be true.. There is certainly a justified case with target within the "industry record".
Diamyd Medical: IN FINAL STAGE REGARDING PARTNERSHIP DISCUSSSION - CEO (AFX)
2009-11-26 09:38
STOCKHOLM (Reuters) "Diamyd is in the final stages with a number of potential partners for licensing of ongoing projects. More than that, I cannot say," said company CEO Elisabeth Lindner during Thursday's trading day, arranged by Avanza Bank and Redeye.
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DIAMYD CEO COMMENTS (translation from the 27 November Annual Report (swe), VD har ordet p.3):
"More and more scientists, doctors, patients, and also both private and institutional investors are now opeing their eyes to Diamyd. Yet we are still relatively unknown in Sweden and abroad. The attention we getting now will only increase over the next year as new progress is being reported and Phase III results for Diamyd ® vaccine approaches. Perhaps you who read this today may be able to tell impressed listeners in ten years time that you were in already in 2009, before the rest of the the world discovered Diamyd."
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DIAMYD CEO COMMENTS Fourth Quarter Report, Stockholm, October 23, 2009
Diamyd is in a great position
In the past year Diamyd Medical came ever closer to realizing its vision of being able to prevent and cure the autoimmune form of diabetes in the future. Continued success in the clinical trials of the Company's three candidate drugs is positioning Diamyd as a diabetes company with an exciting future.
Interest in Diamyd’s business has increased markedly as the positive results of our clinical trials have been published in respected scientific journals and several prominent research groups has chosen to work with the Diamyd® vaccine. Several large international pharmaceutical companies are following our progress closely, and their interest in the structured licensing process for Diamyd® that we are managing in cooperation with an American consulting firm is confirmation of our belief that the diabetes vaccine is an extremely valuable asset for the Company.
We are conducting clinical trials of the Diamyd® vaccine for treatment of newly diagnosed type 1 diabetes in nine European countries and the US. The pace of recruitment indicates that we can begin to report Phase III data in the spring of 2011, and that a market approval application can be submitted in the same year. Market approval is now within Diamyd’s reach!
For business reasons Diamyd has chosen to secure the financing of the operations through a preferential rights issue until we have study results. New shares may be subscribed for through October 30, 2009, and the issue is fully underwritten. In my judgment, as well as the Board's, the issue will provide Diamyd with the necessary resources by some margin until our Phase III results are available. This strengthens our bargaining position in current partnership negotiations, while enabling us to choose the optimal structure and time for a licensing agreement.
We could recently report that we executed a settlement agreement with Apoteket AB regarding the LADA study of 160 patients, which was invalidated in 2007. The settlement agreement includes a payment of SEK 11 million to Diamyd as compensation for the insufficiencies in Apoteket’s routines and documentation causing Diamyd to invalidate the study. It is extremely gratifying to put this behind us, and we are looking forward to new LADA studies where we will try to confirm the positive results that we previously received with this patient group after treatment with the Diamyd® diabetes vaccine.
Development of new pharmaceuticals entails risks as well as opportunities. My strong belief is that in Diamyd´s case the opportunities outweigh the risks and our latest successes have further strengthened me in this belief.
Elisabeth Lindner
President and CEO, Diamyd Medical AB
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