DiaMedica Initiates Type 1 Diabetes Study; Announces Preliminary Results
July 08 2010 - 8:22AM
Marketwired
DiaMedica Inc., (TSX VENTURE: DMA) today announces that it has
initiated a Type 1 diabetes program. The recently announced
Sanomune acquisition allows DiaMedica to expand into Type 1
diabetes. The initiation of this program is based on encouraging
preclinical results with DM-99, a naturally occurring protein that
the company has previously shown to have clinical efficacy for Type
2 diabetes.
In the study, animals were injected with streptozotocin, a
naturally occurring compound known to be toxic to beta cells, to
mimic the disease. A week after this streptozotocin treatment,
animals were injected twice daily with DM-99 for a period of 21
days at which time fasting blood glucose measurements were taken.
Animals treated with DM-99 had a statistically significant 68%
(p=0.05) reduction in fasting blood glucose compared to untreated
animals. Furthermore, the DM-99 treatment resulted in a positive
reduction in total glucose as measured by an oral glucose tolerance
test.
"Initial results from this study show that DM-99 was able to
reduce fasting blood glucose, an indication that new beta cells may
be created or that existing beta cells are being protected from the
streptozotocin insult," stated Rick Pauls, President and CEO of
DiaMedica. "The final results and analysis of DM-99 on the direct
effects upon the pancreas (insulin production and beta cell
proliferation) is expected during the summer of 2010."
About Type 1 Diabetes
According to the Juvenile Diabetes Research Foundation, as many
as 3 million Americans may have Type 1diabetes, an autoimmune
disease that strikes children and adults suddenly and can be fatal.
In Type 1 diabetes, the host's own immune system destroys beta
cells in the pancreas that normally control blood sugar level by
producing insulin. Currently, patients with Type 1 diabetes have to
test their blood sugar and give themselves insulin injections
multiple times each day, or use a pump daily to control blood sugar
levels. Even with intensive care, insulin is not a cure for
diabetes, nor does it completely prevent the eventual and
devastating complications of diabetes, which may include kidney
failure, blindness, heart disease, stroke, and amputation.
About DiaMedica
DiaMedica is a biopharmaceutical company focused on developing
novel treatments for diabetes and neurological disorders. The
Company's Type 2 diabetes program is based on a critical liver
nerve signaling mechanism involved in enhancing insulin sensitivity
after meal consumption. Two of DiaMedica's products have previously
demonstrated human efficacy in lowering blood sugar levels in
people diagnosed with Type 2 diabetes based on this novel nerve
signaling mechanism.
DiaMedica has expanded its DM-199 recombinant protein program
into neurological and autoimmune disorders. The Company has
demonstrated that DM-99, the naturally occurring form of DM-199,
confers neural protection (protects brain cells) and triggers
neural stem cell proliferation (creates brain cells) for the
treatment of numerous neurological disorders including Alzheimer's
disease. DiaMedica is listed on the TSX Venture Exchange under the
trading symbol "DMA".
For further information please visit www.diamedica.com.
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, the
"forward-looking statements"). These forward-looking statements
relate to, among other things, DiaMedica's objectives, goals,
targets, strategies, intentions, plans, beliefs, estimates and
outlook, 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. Specifically, this press release
contains forward-looking statements regarding matters such as, but
not limited to, the anticipated use of proceeds from the Offering,
management's assessment of DiaMedica's future plans, information
with respect to the advancement of DiaMedica's research and
development programs, and DiaMedica's other estimates and
expectations. 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:
uncertainties and risks related to our research and development
programs, the availability of additional financing, risks and
uncertainties relating to the anticipated use of proceeds,
changes in debt and equity markets, 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, the cost and supply of raw materials,
management of growth, effects of insurers' willingness to pay for
products, risks related to regulatory matters and risks related to
intellectual property matters. 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 2009 annual information form. 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.
Such forward-looking statements are based on a number of estimates
and assumptions, which may prove to be incorrect, including, but
not limited to, assumptions regarding the availability of
additional financing for research and development companies, and
general business and economic conditions.These risks and
uncertainties should be considered carefully and investors and
others 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. Additional risk factors, factors
which could cause actual results to differ materially from
expectations, and assumptions relating specifically to our
acquisition of Sanomune may be found in our press releases dated
February 18, 2010 and April 20, 2010.
Contacts: DiaMedica Inc. Kevin Richardson, Ph.D 204.478.5605
204.453.3745 (FAX) krichardson@diamedica.com
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