DiaMedica to Present at US Investment Forums
January 26 2009 - 8:15AM
Marketwired
DiaMedica Inc. (TSX VENTURE: DMA), a drug discovery and clinical
development company focused on a novel approach to treating type 2
diabetes, today announced that Rick Pauls, President and Chief
Executive Officer, will participate in two upcoming investor
forums. The forums, with select attendees drawn from leading
institutional investors and pharmaceutical industry
representatives, will be held from Sunday, January 25th through
Thursday, January 30th in Boston and New York City.
We are delighted to be presenting DiaMedica to US investors at
this innovative showcase," said Mr. Pauls. "This is an ideal forum
to update investors and potential partners on the positive clinical
data we have achieved to date as well as the on-going DM-99 trial
and planned clinical trials that will be initiated in the near
future."
The investment meetings have been organized by the Canadian
Consulate Generals Office from each respective city, in cooperation
with the Ottawa Centre for Research and Innovation (OCRI), in order
to promote Canada's most promising life science companies to the US
investment community. Future investment forums are scheduled for
Washington DC, San Francisco and San Diego.
Diabetes is a widespread and rapidly growing disease, affecting
over 180 million people world wide. Over 90% of people with
diabetes are being diagnosed with the type 2 form of the disease.
According to the World Health Organization, this number is expected
to double during the next 15 years while the American Diabetes
Association has estimated the annual economic cost in 2007 to the
United States to be $174 billion. Global sales of oral diabetes
drugs total $8 billion today and are expected to climb to $12
billion by 2011.
About DiaMedica
DiaMedica is developing novel treatments for type 2 diabetes
based on a newly discovered 'nerve reflex' mechanism for which the
Company has been issued two U.S. patents. DiaMedica completed a
successful phase II trial with its lead product, DM-71, which
demonstrated the ability to reduce HbA1c (blood sugar) levels and
weight in humans. DiaMedica also completed a successful phase II
trial with its second compound, DM-83, designed to measure changes
in insulin and glucose. The success of this clinical trial was
highly significant as DiaMedica believes it validates the novel
'nerve reflex' mechanism that would designate the Company's drugs
as first-in-class. The Company's third drug in clinical
development, DM-99, will complete a phase II trial in Q1 2009.
Preclinical results from Vanderbilt University have shown that
DM-99 is able to cause tissue to increase its uptake of sugar from
the blood by over 40% (p less than 0.001) during the first 60
minutes of treatment. DM-199, a 40x more biologically active
version of DM-99, has been created with the expectation that it
will be developed into a once-a-week injection. DiaMedica has been
recognized as one of the Top Ten(TM) Life Science companies in
Canada for the past two years by the Ottawa Centre for Research and
Innovation.
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.
Contacts: DiaMedica Inc. Kevin Richardson, Ph.D. (204) 918-3868
(204) 453-3745 (FAX) Email: krichardson@diamedica.com Website:
www.diamedica.com
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