The subscription period for Diamyd Medical's rights issue has begun - the major owners fully subscribe for their shares
Diamyd Medical announces that the major owners, Bertil Lindkvist and Anders Essen-Möller, intend to fully subscribe for their shares, corresponding to a total of approximately SEK 19.9 million or approximately 29% of the current rights issue totaling SEK 68.8 million. The issue is guaranteed to 80%. The Board is entitled to decide on an additional SEK 20 million in case of oversubscription.
Diamyd Medical's rights issue aims to clearly move positions towards potential partners and take the diabetes vaccine Diamyd® closer to market. A follow-up pivotal phase II study, where the diabetes vaccine is given directly into the lymph node, is expected to start this fall in the light of promising preliminary results.
The subscription period for Diamyd Medical's rights issue started on Wednesday, May 10, and continues until Wednesday, May 24. For further information about the rights issue, please see www.diamyd.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®, an antigen-specific immunotherapy based on the exclusively licensed GAD-molecule. Six clinical studies are ongoing with Diamyd®. 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 Stockholm 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
E-mail: ulf.hannelius@diamyd.com
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: info@diamyd.com. 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 08:30 CET on May 11, 2017.
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