Diamyd Medical subscribes for an additional SEK 1 million in NextCell Pharma’s ongoing new issue ahead of IPO
Diamyd Medical announces today that the Company will subscribe for an additional SEK 1 million in the ongoing new issue in the associated company NextCell Pharma AB (NCP) ahead of their planned IPO in July on Aktietorget.
"A listing of NextCell Pharma is clearly positive for Diamyd Medical as it provides a transparent value of our holdings and better risk diversification, while giving NCP greater opportunities to drive its research and business development," says Ulf Hannelius, CEO of Diamyd Medical.
NextCell Pharma develops advanced cell therapies with own and donated stem cells. The company now implements a new issue of MSEK 25 to finance, among other things, a Phase I / II clinical trial in diabetes patients with the ProTrans™ drug candidate.
Diamyd Medical announced on March 9 that the Company invested MSEK 0.6 in NextCell Pharma and intended to invest a further MSEK 0.9 during an upcoming initial public offering. Now the amount is increased by MSEK 1 to MSEK 1.9. Diamyd Medical's ownership in NCP before the new issue amounts to approximately 16 % and is expected to be approximately 12 % after a fully subscribed new issue.
About NextCell Pharma
Stem cells are expected to revolutionize the way we treat several diseases that today have fatal outcomes. NextCell Pharma AB develops ProTrans™, a pharmaceutical candidate consisting of stem cells, primarily for the treatment of diabetes and for immunosuppression in renal transplantation. ProTrans™ consists of selected stem cells extracted from umbilical cord tissue by NextCell Pharma’s proprietary method. NextCell Pharma also manages Cellaviva, the first stem cell bank in Sweden for family saving of stem cells from umbilical cord blood and umbilical cord tissue. For more information on NextCell Pharma’s new issue see www.nextcellpharma.com
About Diamyd Medical
Diamyd Medical is dedicated to finding a cure for diabetes and other serious inflammatory diseases through pharmaceutical development and investments in stem cell and medical technology.
Diamyd Medical develops the diabetes vaccine Diamyd®, for antigen-specific immunotherapy based on the exclusively licensed GAD-molecule. Five clinical studies are ongoing with Diamyd®. The Company's trial DIAGNODE-2, where the diabetes vaccine is administered directly into the lymphatic node, is expected to start recruiting patients in the fall. GABA constitutes alongside with the diabetes vaccine a key asset in Diamyd Medical and the Company uses its GABA in-licensed technology to develop a proprietary GABA drug product. Diamyd Medical is one of the major shareholders in the stem cell company NextCell Pharma AB. Diamyd Medical also has holdings in the medtech company Companion Medical, Inc., San Diego, USA and in the gene therapy company Periphagen, Inc., Pittsburgh, USA.
Diamyd Medical’s B-share is traded on Nasdaq First North under the ticker DMYD B. FNCA Sweden AB is the Company’s Certified Adviser.
For further information, please contact:
Ulf Hannelius, President and CEO
Phone: +46 736 35 42 41
Diamyd Medical AB (publ)
Kungsgatan 29, SE-111 56 Stockholm, Sweden. Phone: +46 8 661 00 26, Fax: +46 8 661 63 68
E-mail: firstname.lastname@example.org. Reg. no.: 556242-3797. Website: www.diamyd.com .
This information is information that Diamyd Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. This is an English translation of information that was submitted for publication, through the agency of the contact person set out above, at 08:17 CET on June 5, 2017.