Diamyd Medical enters agreement to facilitate transition of manufacturing

Diamyd Medical and Protein Sciences Corporation (PSC) are entering into an agreement modifying their relationship, by which PSC will continue to support Diamyd Medical in its development of a diabetes vaccine but will no longer serve as its contract manufacturer. The agreement facilitates the transition of the manufacturing process of recombinant GAD65, the active ingredient in the diabetes vaccine Diamyd[®], to a new manufacturer for future anticipated commercial manufacture. PSC will support Diamyd Medical with USD 5 million in cash, as well as certain raw materials and up to 150 man-hours