STOCKHOLM, Sweden, April 21 /PRNewswire-FirstCall/ -- Diamyd Medical AB
(publ) has decided on, and successfully executed, a direct placement of in
total 991,000 series B shares. The shares have been placed with a limited
group of professional investors at a price of 73 SEK per share. The issue
raises 72.3 MSEK in total for the Company before issue costs. For each
issued and paid new share one warrant is received free of charge, which
gives the right to subscribe for a series B share at a price of 100 SEK
during April 2009. Full use of the issued warrants will generate an
additional 99.1 MSEK in proceeds to the Company.
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"This issue takes us one further step towards the commercialization of our therapeutic diabetes vaccine Diamyd(R)," says Elisabeth Lindner, President and CEO of Diamyd Medical. "At the same time as resources are secured for financing of the clinical phase III studies which are needed for market approval, we will now continue our partnership discussions for Diamyd(R) and NTDDS from a position of strength. I am warmly welcoming our new shareholders."
Stockholm Corporate Finance has been financial advisor to Diamyd regarding the issue.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Diamyd Medical is a Swedish biopharmaceutical company focusing on
development of pharmaceuticals for treatment of autoimmune diabetes and its
complications. The company's most advanced project is the GAD-based drug
Diamyd(R) for type 1- diabetes and for which Phase III trials have been
initiated in both the US and Europe. Furthermore the compa
|SOURCE Diamyd Medical AB (publ)|
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