DiaMedica Inc.

DiaMedica Inc.

October 27, 2011 08:55 ET

Dr. Paul Burn to Join DiaMedica's Scientific Advisory Board

WINNIPEG, MANITOBA--(Marketwire - Oct. 27, 2011) - DiaMedica Inc. (TSX VENTURE:DMA) a biopharmaceutical company focused on the development of novel treatments for Type 1 and Type 2 diabetes announces the appointment of Dr. Paul Burn to DiaMedica's Scientific Advisory Board. Dr. Burn currently serves as the Broin Chair and Director for The Sanford Project, an emerging translational research center focused on identifying and delivering a cure for Type 1 diabetes. He also holds an appointment as Professor of Pediatrics at the Sanford School of Medicine of The University of South Dakota.

Prior to the appointment at Sanford Health, Dr. Burn served in the position of Senior Vice President of Research & Development at the Juvenile Diabetes Research Foundation (JDRF). Dr. Burn gained international industry R&D experience as Director of Metabolic Research & Development at Bayer Health Care; at Eli Lilly & Company where he held the position of Director of Endocrine Research & Clinical Investigation; as Vice President of Research & Development at Monsanto/Pharmacia; and at Hoffman-La Roche as the Global Head for the Metabolic Diseases Therapeutic Area and as Vice President of Biotechnology.

Dr. Burn's business expertise includes establishing and leading alliances with strategic partners and in- and out-licensing of compounds and projects. In addition, he has facilitated a portfolio of 52 clinical trials, served as a consultant to several major pharmaceutical companies and has streamlined the programs of acquired or merged companies.

"I am delighted to join DiaMedica's Scientific Advisory Board, especially at such a progressive time for the Company," said Dr. Paul Burn. "The results achieved to date with DM-199 and DM-204 in both Type 1 and Type 2 diabetes settings are extraordinary and I am particularly interested in seeing these programs accelerated."

"Dr. Burn is a highly regarded key opinion leader in diabetes research and drug development and we are honored that he is joining our Scientific Advisory Board," said Rick Pauls, Chief Executive Officer of DiaMedica. "He brings to us proficiency in clinical diabetes R&D as well as spearheading alliances and partnerships; skills that should prove to be a valuable resource in helping DiaMedica's DM-199 program move forward."

About DiaMedica

DiaMedica is a biopharmaceutical company that has developed novel therapeutic compounds aimed to improve the lives of patients with diabetes and other major, medically-unmet diseases. DiaMedica's lead compound, DM-199, represents a novel approach to treating Type 1 and Type 2 diabetes by demonstrating significant results against three major aspects of these diseases: 1) halting the autoimmune attack on beta cells; 2) proliferating insulin producing beta cells and 3) improving glucose control.

DiaMedica is also developing a monoclonal antibody, DM-204. In pre-clinical studies, DM-204 significantly improved glucose control and decreased blood pressure.

The company is listed on the TSX Venture Exchange under the trading symbol 'DMA'.

Caution Regarding Forward-Looking Information

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 Company'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 Company 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.

Contact Information

  • DiaMedica Inc.
    Rick Pauls
    President & CEO
    204.453.3745 (FAX)