A new chapter has begun
On June 22 we announced that Diamyd Medical has signed an agreement with Ortho-McNeil-Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, to develop and commercialize the Diamyd
® diabetes therapy. The agreement is probably one of the largest ever signed by a Swedish biotechnology company!
The agreement concludes the first stage of the journey that started in 1994. Our founder and Chairman Anders Essen-Möller’s daughter developed type 1 diabetes that year. Anders read in an article in Washington Post that scientists had succeeded to prevent diabetes in mice by administering the protein GAD65. As a true entrepreneur, Anders went to the USA, licensed the rights and started the development of the Diamyd
® diabetes therapy. There are of course many more people that have contributed to bringing it this far, but at this historical occasion I must commend Anders, with his great personal and financial commitment, who never gave up despite many challenges along the way.
Johnson & Johnson, with access to leading expertise in diabetes, pharmaceutical development and product commercialization, has chosen to invest heavily in Diamyd
® after having spent more than a year scrutinizing the project. The due diligence has covered everything from preclinical and clinical data to audits of clinical sites and production facilities. Our collaboration opens many doors and raises Diamyd’s profile. Returning from the world’s largest diabetes conference, American Diabetes Association (ADA), I can testify to the great enthusiasm this agreement has created in the field of diabetes.
The Diamyd spirit that permeates our company keeps us working hard, efficiently, and goal oriented and it makes us dare to find our own ways forward. It is an incredible positive force and I am myself amazed at what we have accomplished with scarce resources in just the last two years. The Diamyd spirit in combination with the larger resources the agreement with Johnson & Johnson brings can only mean success.
We will realize the plan to bring Diamyd
® to the market in the Nordic countries ourselves and have negotiated exclusivity for this region. The Nordic market is a prestige market for type 1 diabetes in that the Nordic countries have the highest incidence of the disease in the world.
We are on the threshold of a completely new era for Diamyd Medical. A new chapter has begun!
Stockholm, July 1, 2010
CEO and President
Diamyd Medical AB