Founded in 1996, Diamyd Medical AB (OMX: DIAM B ; OTCQX: DMYDY), is the mother company in an emerging and global life science group based in Stockholm, Sweden with a subsidiary in Pittsburgh, Pennsylvania, USA.

Diamyd Medical’s vision is that there is a cure to be found for autoimmune diabetes. The Company’s mission is to contribute in the global effort to find this cure and to eliminate complications from the disease. Accordingly, the Company currently develops therapeutics from two independent platform technologies. One of these platforms relies on the GAD65 molecule and the other on a viral delivery system of proteins to nervous tissue (Nerve Targeted Drug Delivery System, NTDDS). Therapeutics for conditions other than diabetes are also being developed using these platforms.

 

Diamyd Medical’s furthest developed project is the glutamic acid decarboxylase (GAD65)-based vaccine Diamyd® for autoimmune diabetes. GAD65 is a major autoantigen in autoimmune diabetes and the Diamyd® vaccine is intended to induce immunotolerization. Diamyd® has demonstrated significant and positive results in a Phase II clinical trial in recent onset type 1 diabetes patients in Sweden.

 

Diamyd Medical also owns a 19 percent stake in Mercodia AB, which develops and markets diagnostic products, and a 6.7 percent stake (after full dilution) in Protein Sciences Corporation, which develops and manufactures modern protein-based vaccines, diagnostics and therapeutics using recombinant DNA technology.