DiaMedica Inc.

DiaMedica Inc.

December 03, 2007 09:30 ET

DiaMedica Named One of Canada's Top 10 Life Science Companies

WINNIPEG, MANITOBA--(Marketwire - Dec. 3, 2007) - DiaMedica Inc. (TSX VENTURE:DMA), a drug discovery and development company focused on novel treatments for type 2 diabetes, is pleased to announce that it has been named as one of Canada's Top 10 Life Science Companies.

"We are honoured to have been selected for this prestigious award," commented Dr. Karl-Gunnar Hidinger, President of DiaMedica. "This award recognizes our achieved milestones and exciting future prospects as a top tier biotechnology company as we look forward to an exciting year in 2008."

Canada's Top 10 Life Science Companies are selected from a pool of entrants by an independent international jury of life science venture capitalists. Based on their expert knowledge of investment in the life science sector, the jury selects companies that offer the best investment and partnership prospects.

About Canada's Top 10

First held in 1999, Canada's Top 10 Competition was designed to promote the 10 most promising life science companies from across Canada (5 Early stage and 5 Emerging/Late stage) to Canadian and international investors and partners. The Competition has now expanded to showcase Canada's cleantech sector. This year the program expands once again to the technology sector.

Canada's Top 10 Life Science Companies Competition is a prestigious annual competition. The awards are presented to growth-oriented biotechnology, biomedical, health or advanced agricultural technology companies and are chosen by an independent expert panel of Canadian and U.S. venture capitalists. Further information is available at www.topcanadiancompanies.ca.

About DiaMedica

DiaMedica is developing novel treatments for various stages of type 2 diabetes. The Company recently completed a successful phase II clinical trial with its lead product, DM-71. The Company has two other drugs in its clinical pipeline, DM-83 and DM-99, which are progressing toward clinical studies.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: DiaMedica's early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in DiaMedica's filings with Canadian securities regulatory authorities, as well as DiaMedica's ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release, as well as under the heading "Risk Factors" contained in DiaMedica's final long-form prospectus dated March 12, 2007. DiaMedica cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on DiaMedica's forward-looking statements to make decisions with respect to DiaMedica, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, DiaMedica cannot provide assurance that actual results will be consistent with these forward-looking statements. DiaMedica undertakes no obligation to update or revise any forward-looking statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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