Diamyd increases shareholding in Protein Sciences Corporation
Diamyd Medical AB announced today that the Company's convertible
promissory note in the US vaccine company Protein Sciences Corporation
has been converted into shares.
In fiscal year 2007/2008, Diamyd Medical invested in a convertible
promissory note in the vaccine company Protein Sciences Corporation,
USA. The promissory note was accounted for as an investment of SEK 6.4
million as of November 30, 2007, and has passed with an interest of 5%.
After conversion of the shares, Diamyd Medical now holds about 8% of the
Protein Sciences Corporation shares.
Protein Sciences Corporation, founded in 1983, is a privately held
biotech company located in Meriden, Connectitut, USA. The company
focuses on development and commercialization of recombinant vaccines and
biological drugs based on its patented manufacturing platform BEVS
(Baculovirus Expression Vector System). Protein Sciences Corporation's
lead product candidates are recombinant vaccines to protect against
seasonal and pandemic influenza. The influenza vaccine FluBlok® is the
company's furthest developed drug candidate. The company also
manufactures the active substance for Diamyd Medical's antigen based
drug candidate Diamyd®.
For more information, please contact:
Peter Zerhouni, Acting President and CEO Diamyd Medical AB (publ.)
Phone: 46 8 661 0026
For press material, please contact:
Andreas Ericsson, Diamyd Medical AB (publ.)
press@diamyd.com (press@diamyd.com)
Phone: 46 8 661 0026
