Press release April,23, 2009 Diamyd Medical reports today that the subscription of new shares upon exercise of the subscription warrant DIAM TO2B brought in SEK 28 million in cash injection. We appreciate the continued support from our shareholders and warrant owners. Diamyd has made good progress during the year and this together with a large international interest for the Company, has made it possible to exercise the subscription warrants at the exercise price, says Elisabeth Lindner, President and CEO of Diamyd Medical. In May 2008 Diamyd Medical issued a direct emission of shares, where each share was followed by a subscription warrant giving the right to subscribe one share in Diamyd Medical at the exercise price SEK 100 during the period March 16 to April 17, 2009. The subscription warrant Diamyd Medical TO 2B has now been exercised and has brought MSEK 28 in cash injection. The money will be used for clinical operations. The subscription warrants that were not exercised have expired without value. For additional information, please contact: Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.) Tel: +46 (0)8 6610026 For pictures and press material, please contact: Alexandra Fleetwood, Director Communications Diamyd Medical AB (publ.), alexandra.fleetwood@diamyd.com Tel: +46 (0)8 661 0026 About Diamyd Medical Diamyd Medical is a Swedish biopharmaceutical company focusing on the development of pharmaceuticals for the treatment of autoimmune diabetes and its complications. The company's most advanced project is the GAD-based drug Diamyd® for type 1 diabetes. Phase III trials for this drug are in progress in both the US and Europe. In addition, the Company has initiated clinical studies in the US in the area of chronic pain, using its Nerve Targeting Drug Delivery System. The Company has also out-licensed the use of GAD for the treatment of Parkinson's disease. Diamyd Medical has offices in Sweden and in the US. Shares are listed on Nasdaq OMX First North (ticker: DIAM B) and on OTCQX in the US (ticker: DMYDY) administered by Pink OTC Markets and the Bank of New York (PAL). Further information is available on the company's website; www.diamyd.com. This information is disclosed in accordance with the Swedish Securities Mark ets Act, the Swedish Financial Instruments Trading Act, or the requirements stated in the listing agreements. Diamyd Medical AB (publ.) Linnégatan 89 B, SE-115 23 Stockholm, Sweden. Tel: +46 (0)8 6610026, Fax: +46 8 661 63 68 E-mail: info@diamyd.com. VAT no: SE556530-142001. (www.omxnordicexchange.com ticker: DIAM B; www.otcqx.com ticker: DMYDY