Diamyd spins out the subsidiary Diamyd Therapeutics which changes name to Diamyd Medical
At an Extraordinary General Meeting of Diamyd Medical AB on April 22, 2013, it was decided to distribute the subsidiary Diamyd Therapeutics AB with the diabetes operations to the shareholders. At the same time the company assumes the name Diamyd Medical AB. The new Diamyd Medical will keep the web address www.diamyd.com. The parent company (former Diamyd Medical) will change name to Mertiva AB and its web address to www.mertiva.se.
The new Diamyd Medical is capitalized with approximately SEK 50 million to continue the work to find a cure for autoimmune diabetes, focusing on continued development of the diabetes vaccine Diamyd® with the active ingredient GAD.
The shares in new Diamyd Medical AB are intended to be available for trading on NASDAQ OMX First North. The first day of trading is expected to be in mid-May 2013.
For more information, please contact:
Peter Zerhouni, President CEO Diamyd Medical AB (former Diamyd Therapeutics AB)
Phone: +46 8 661 00 26. E-mail: email@example.com
About Diamyd Medical (former Diamyd Therapeutics)
Diamyd Medical (former Diamyd Therapeutics) is a diabetes company headquartered in Stockholm, Sweden. The Company develops the diabetes vaccine Diamyd®and the active ingredient GAD for the treatment and prevention of autoimmune diabetes. Two Swedish researcher-initiated Phase II studies with Diamyd®are ongoing. One study evaluates whether the diabetes vaccine can prevent type 1 diabetes in children who are at high risk of developing the disease and one study evaluates whether Diamyd®in combination with relatively high doses of vitamin D and ibuprofen can preserve the body's own ability to control the blood sugar level in children and adolescents newly diagnosed with type 1 diabetes.
Diamyd Medical also has holdings in the gene therapy company Periphagen Holdings, Inc. (US).
Further information is available on the Company’s website: www.diamyd.com.
Diamyd Medical AB
Karlavägen 108, SE-115 26 Stockholm, Sweden. Phone: +46 8 661 00 26, Fax: +46 8 661 63 68
E-mail: firstname.lastname@example.org. Reg. no: 556242-3797.