Diamyd Medical has signed an agreement with Janssen Research & Development, the Juvenile Diabetes Research Foundation (JDRF) and the University of Alabama at Birmingham regarding the ongoing clinical trial “Effect of GABA or Combination GABA/GAD on the Progression of Type 1 Diabetes Mellitus in Children”.
The agreement entails that Janssen Research & Development and JDRF will support the trial with approximately USD 600 000 to be used to study GABA-biomarkers and to increase the number of patients in the trial.
“The agreement is positive for the trial” says Ulf Hannelius, President and CEO of Diamyd Medical. “Our in-licensed GABA-technology has been shown to influence autoimmune and inflammatory diseases in a positive direction when used alone, and the combination GABA/Diamyd -vaccine has in a diabetes model shown a strong synergistic effect in preserving beta cell function. We look with greatest interest forward to this new collaboration.”
Diamyd Medical develops the diabetes vaccine Diamyd, an Antigen Based Therapy (ABT) based on the exclusively licensed GAD-molecule. The company’s licensed technologies for GABA and Gliadin have also potential to become key pieces of the puzzle of a future solution to prevent, treat or cure autoimmune diabetes, and also certain inflammatory diseases. At this time six clinical studies are ongoing with Diamyd. Diamyd Medical is also one of the major shareholders in the stem cell company Cellaviva AB.
At the same time Companion Medical Inc, where Diamyd owns 8.5% and holds the distribution rights for its future products in the Nordic region, also received clearance from the FDA for the InPen system, an insulin administration system and smartphone application. Companion Medical’s InPen is cleared in the US for use with Ely Lilly’s Humalog or Novo Nordisk’s Novolog rapid acting insulin. The InPen application is cleared for Apple iOS and an Android version is planned for later in 2016. Companion Medical has also applied for a CE Mark for market approval in Europe.
Diamyd Medical ahas holdings in the medtech company Companion Medical, Inc., San Diego, USA and in the gene therapy company Periphagen, Inc., Pittsburgh, USA.
The shares rocketed
Diamyd Medical’s B-share is traded on Nasdaq Stockholm First North under the ticker DMYD B. Remium Nordic AB is the Company’s Certified Adviser.Following these announcements the shares of Diamyd Medical rocketed and the same day the shares rised with 49.3%.