MINNEAPOLIS, MINNESOTA--(Marketwired - Oct. 30, 2013) - DiaMedica (TSX VENTURE:DMA), a clinical stage biopharmaceutical company is pleased to announce Elsevier Business Intelligence has named clinical drug DM199 as one of the Top Cardiovascular/Metabolic Projects to Watch.
The Top 10 list is selected by an independent panel each year to highlight compounds that address a large, unmet market, strong science and a diversity of indications. Other criteria include the potential for new opportunities beyond initial indications, multi‐level partnering opportunities and a strong company behind the compound.
Companies selected in the Top Cardiovascular/Metabolic Projects to Watch were screened against strict criteria and are considered the most attractive cardiovascular/metabolic opportunities in the industry. Past Top 10 candidates have signed $US17 billion in potential acquisitions and alliances including Vectura, AVEO, Trophos, BiPar, Myogen, Sirtris and Kosan.
DiaMedica will present the latest research on DM199 at the Therapeutic Area Partnerships meeting on November 19, 2013 at the Hyatt regency in Boston, MA.
"We are very pleased to have DM199 recognized as one of the most promising treatments under development and look forward to presenting our research to the pharmaceutical community," said Rick Pauls, DiaMedica's President and CEO.
DM199 is currently in a randomized, double-blinded, placebo-controlled Phase I/II clinical study in Type 2 diabetic patients and healthy volunteers. Results to date demonstrate DM199 has achieved its primary clinical endpoints of safety, tolerability and sustained pharmacokinetic (PK) properties in healthy volunteers and diabetic patients. In addition, results from secondary endpoints in Type 2 diabetic patients assessing glucose control were consistent with an insulin sensitization mechanism of action.
DiaMedica Inc. is a publicly traded (TSX VENTURE:DMA) clinical stage biopharmaceutical company focused on the discovery and development of novel therapies to treat diabetes and the complications associated with diabetes. DiaMedica's lead clinical stage compound, DM199, is a recombinant human protein known as rhKLK1 that represents a novel approach to treating diabetes and associated complications. DiaMedica is also developing a novel monoclonal antibody, DM204 for the treatment of Type 2 diabetes, which is in preclinical development.
The Company is listed on the TSX Venture Exchange in Canada under the trading symbol 'DMA'.
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. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the Corporation's filings with Canadian securities regulatory authorities. 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. The Corporation 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. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.