30-MONTHS RESULTS FROM DIAMYD® TYPE 1 DIABETES TRIAL TO BE PRESENTED IN HANNOVER

Press Release, Stockholm, Sweden, January 17, 2007 – Diamyd Medical AB (www.omxgroup.com, ticker: DIAM B; www.otcqx.com, ticker DMYDY)

Diamyd Medical today announced that Professor Johnny Ludvigsson, University of Linkoping, Sweden, will present 30-months results from Diamyd Medical’s previously reported Phase IIb study with the aim to preserve beta cell function in 70 patients with type 1 diabetes. The presentation will be made on January 19, at the Karl-Stolte Symposium in Hannover, Germany.

“This is an exciting time for Diamyd”, says Elisabeth Lindner, President and CEO of Diamyd Medical. “We have previously seen positive results at 15 months and 21 months from this remarkable type 1 diabetes study. We are looking forward to the presentation of the 30-month data, an important milestone completing the study period”.