At Diamyd Medical's ordinary Annual General Meeting on December 11, CEO
Elisabeth Lindner announced that Diamyd stands stronger than ever before. The
first of the company's Phase III studies of the Diamyd® diabetes vaccine is
fully recruited and the recruitment of the other Phase III study is steadily
increasing. Additionally, several children have been vaccinated in a Swedish
prevention study of the Diamyd® diabetes vaccine with the aim of preventing type
1 diabetes.
“It has been an incredibly exciting and intense year for Diamyd where a number
of important events have contributed to our current position of strength,” says
Elisabeth Lindner, CEO and President at Diamyd Medical. “As a result of the
fully recruited European Phase III study and the progress in the American study
we can better assess the future development of the Diamyd® project and the
company as a whole.”
During the year the company has continued its positioning towards a market
oriented diabetes company with the Nordic market as a base.
The following matters were discussed at the meeting:
Diamyd Medical's President and CEO Elisabeth Lindner gave a retrospective view
of and summarized the important events during and after the past fiscal year.
The most important and decisive events were the progress of the Phase III
studies with the Diamyd® diabetes vaccine and that the company with margin has
secured its financing until data from the current Phase III program is expected
to be available.
The company's income statement and balance sheet were adopted, and the Board and
CEO were discharged from liability for the 2008/2009 fiscal year.
Anders Essen-Möller was re-elected as Chairman of the Board, and Lars Jonsson,
Sam Lindgren and Henrik Bonde were re-elected to the Board, while Maria-Teresa
Essen-Möller and Göran Pettersson were elected as new Board members.
Maria-Teresa Essen-Möller, b. 1970, is a brand and market strategy consultant
who has also done work with Diamyd Medical AB and Elekta AB. She has a Master's
degree in Economics from Linköping University. Göran Pettersson, with degrees in
Pharmacy and Marketing, has a long background from leading business functions in
the Astra group, KabiVitrum AB, KabiPharmacia/Pharmacia&Upjohn AB and Meda AB.
He is currently a Director of the Boards of Medivir AB, OxyPharma AB, Recipharm
AB, Swedish Orphan AB and Vivoxid, Oy.
The annual meeting approved the Board's proposed guidelines for compensation and
terms of employment for the CEO and other key executives.
The meeting approved the Board's proposal to amendments to the Articles of
Incorporation concerning an execution of a 2:1 division of shares (i.e. a
split), meaning that each share is divided into two shares, and that the summons
to the shareholders' meeting is adjusted to the new regulations expected to come
into force in 2010. In addition, the meeting approved the Board's proposal that
the provisions concerning prior application to and right to attend shareholders'
meeting are adjusted to the Companies Act.
The meeting mandated the Board to decide on new share issues of a maximum total
of 10 percent of the number of shares on one or more occasions before the next
Annual General Meeting. In addition, the meeting approved the Board's proposal
to institute an employee option program.
For more information, please contact:
Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.)
Phone: +46 8 661 0026
For pictures and press material, please contact:
Andreas Ericsson, Diamyd Medical AB (publ.)
andreas.ericsson@diamyd.com
Phone: +46 8 661 0026
About Diamyd Medical
Diamyd Medical is a Swedish diabetes 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 Europe and the
US. In addition, the company has initiated clinical studies in the US in the
area of chronic pain, using its Nerve Targeting Drug Delivery System (NTDDS).
The company has also out-licensed the use of GAD for the treatment of
Parkinson's disease. The company currently has three clinical-phase products.
Diamyd Medical has offices in Sweden and in the US. Shares are listed on Nasdaq
OMX in Stockholm (ticker: DIAM B) and on OTCQX in the US (ticker: DMYDY)
administered by the Pink OTC Markets and the Bank of New York Mellon (PAL).
Further information is available on the company's website: www.diamyd.com.
This information is disclosed in accordance with the Swedish Securities Markets
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
(0)8 661 63 68
E-mail: info@diamyd.com. VAT no: SE556530-142001.
