DiaMedica Inc.
TSX VENTURE : DMA
OTCQB : DMCAF

DiaMedica Inc.

February 02, 2016 08:00 ET

DiaMedica Provides Update on DM199 Opportunity in South East Asia

MINNEAPOLIS, MINNESOTA--(Marketwired - Feb. 2, 2016) - DiaMedica Inc. (TSX VENTURE:DMA)(OTCQB:DMCAF) (the "Company") a clinical-stage biotechnology company focused on developing novel protein therapeutics for vascular diseases, including stroke, today provides a corporate development update.

The Company has commenced discussions for potential collaboration with Chinese pharmaceutical firms for the development and commercialization of DM199 (recombinant human kallikrein-1). DM199 is potentially a replacement of the approved urine-derived kallikrein-1 protein trade named Kailikang® in Southeast Asia for the treatment of acute ischemic stroke. DM199 is a recombinant (synthetic) form of the urine-derived kallikrein-1 product containing the same number and sequence of amino acids. Industry sources have indicated that Kailikang® is a widely used commercially viable product in the Republic of China.

DiaMedica believes that DM199 offers significant benefits over the urine-sourced Kailikang® product including the removal of product supply constraints, very low manufacturing costs, and a product capable of meeting the regulatory requirements for worldwide use. These benefits could allow for significant growth over the existing Kailikang® sales in China, greatly expanding the use of this therapy for the treatment of stroke in China, and provide for the first time a treatment option for the rest of the world.

Worldwide, 1 in 6 people will experience a stroke in their lifetime. There are approximately 17 million strokes annually worldwide (2 million in China) and approximately 6 million lives lost each year to stroke. 87% of these strokes are termed ischemic strokes, a blockage rather than a hemorrhage (bleeding into the brain) and thus appropriate for kallikrein-1 therapy. Tissue plasminogen activator (tPA) is the only U.S. Food & Drug Administration (FDA) approved treatment for ischemic strokes; however it must be administered within 3 hours (and up to 4.5 hours in certain eligible patients) of a stroke. This vastly limits the number of people that can receive treatment because of the logistics of getting the people to the hospital and evaluated in time. Kallikrein-1 therapy can be given up to 48 hours after symptoms start, making it possible to treat a very large number of appropriate stroke patients.

About DiaMedica

DiaMedica is a publicly traded clinical stage biopharmaceutical company focused on developing novel protein therapeutics for vascular diseases, including stroke, and kidney diseases. DiaMedica's common shares are listed on the TSX-V Exchange under the trading symbol "DMA" and on the OTCQB under the trading symbol "DMCAF".

FORWARD-LOOKING STATEMENTS

The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address DiaMedica's expectations, should be considered forward-looking statements. Such statements are based on management's exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words "may", "will", "anticipate", "believe", "estimate", "expect", "intend" and words of similar import, are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. Forward looking statements in this news release include, but are not limited to, the Company's future plans, product safety, potential regulatory filings and future clinical trials, advancement of DM199 and other products for stroke, metabolic, kidney and other diseases, potential effectiveness of DM199 beyond tPA, combined with tPA or as biosimilar, potential advantages of DM199 over the marketed Chinese product, and potential partnerships. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: uncertainties associated with raising additional capital, its ability to satisfy its current contractual obligations; timing and success of implementing restructuring measures and any future measures; and the additional risk factors described in detail in DiaMedica's other filings with the Canadian securities regulators, all of which are available on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. DiaMedica undertakes no obligation, and does not intend, to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events, unless required by law. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this press release.

Contact Information

  • DiaMedica Inc.
    Donna Husemoller
    763-270-0603
    info@diamedica.com

    DiaMedica Inc.
    Two Carlson Parkway, Suite 165
    Minneapolis, MN