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The Pittsburgh Life Sciences Greenhouse Congratulates Diamyd Medical on Its Agreement with Ortho-McNeil-Janssen Pharmaceuticals to Develop Diabetes Therapy
Date:6/22/2010

PITTSBURGH, June 22 /PRNewswire/ -- The Pittsburgh Life Sciences Greenhouse (PLSG), the organization providing capital investments and customized company formation and business growth programs to the region's life sciences enterprises, issued this statement through its President and Chief Executive Officer, John W. Manzetti regarding the PLSG's incubator company, Diamyd, signing an agreement with Ortho-McNeil-Janssen Pharmaceuticals, a Johnson & Johnson Company to commercialize a type-1 diabetes drug.

"Diamyd is a great example of a success story for the region and for the Pittsburgh Life Sciences Greenhouse model of taking technologies from Concept to Commercialization™," said John W. Manzetti, PLSG President & CEO. Mr. Manzetti continued, "Diamyd Inc., has  U.S. Research and Development headquarters in our incubator, and was formed from the merger of Pittsburgh's Nurel Therapeutics and Diamyd Medical in 2005. The PLSG has made direct investment in and supported the growth of this company and its commercialization efforts through our business growth programs since 2003. It is a pleasure to celebrate with them as they develop and commercialize their therapy and become a player in the global specialty pharma arena."

Darren Wolfe, CEO, Diamyd Inc., USA added, "We will utilize the support of the PLSG and the region's strengths as we build upon our global presence and commitment to the treatment and prevention of Diabetes." Dr. Wolfe continued, "We will continue to drive R&D from our lab in the PLSG incubator and are expecting to expand in the region."

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