DiaMedica Grants Options to Board Members
April 14 2009 - 8:51AM
Marketwired
DiaMedica Inc. (TSX VENTURE: DMA), a drug discovery and development
company focused on novel treatments for Type 2 diabetes has
announced that it has granted 45,000 incentive options to certain
officers or directors of the Company priced at $0.70. As with all
options granted since March 2007, these options are set to expire
five years from the date of grant and are subject to the approval
of the TSX Venture Exchange.
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
phase IIa trial with DM-71 which demonstrated the ability to reduce
HbA1c (blood sugar) levels and weight in humans. DiaMedica also
completed a phase IIa trial with its second compound, DM-83,
designed to measure changes in insulin and glucose. Preclinical
results from Vanderbilt University have shown that a third compound
in development, DM-99, increases tissue glucose uptake from the
blood by over 40% (p less than 0.001) during the first 60 minutes
of treatment. Results from a phase IIa clinical trial demonstrated
encouraging results that DM-99 may be able to lower blood glucose
in type 2 diabetes patients after consumption of a meal. The DM-99
program recently received a financial contribution in addition to
both technical and business oriented advisory services from the
National Research Council of Canada. 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. 204-478-5605
204-453-3745 (FAX) krichardson@diamedica.com
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