Diamyd Medical fully subscribes to its pro rata share in NextCell Pharma's rights issue
Diamyd Medical invests its pro rata share corresponding to approximately SEK 3.2 million in the associated company NextCell Pharma's ongoing rights issue, meaning that Diamyd Medical's book value of the holding in NextCell Pharma after the investment increases from approximately SEK 5.3 million to approximately SEK 8.5 million.
Diamyd Medical is one of the main owners of NextCell Pharma with an ownership of 12.8%. NextCell Pharma is now carrying out a rights issue which, upon full subscription, will provide NextCell with approximately
SEK 24.9 million before issue costs.
“We consolidate our holding in NextCell Pharma by fully participating with our share in the rights issue,” says Ulf Hannelius, CEO of Diamyd Medical. “NextCell impresses with its pace of development and through the holding in NextCell we strategically monitor the diabetes therapies within the stem cell field.”
About NextCell Pharma
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell
Pharma AB develops ProTransTM, a drug candidate consisting of stem cells for the primary treatment of autoimmune and inflammatory diseases as well as for use in kidney transplants. ProTransTM consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue
About Diamyd Medical
Diamyd Medical develops the diabetes vaccine Diamyd®, as an antigen-specific immunotherapy for the preservation of endogenous insulin production. Diamyd® has demonstrated good safety in trials encompassing more than 1,000 patients as well as effect in some pre-specified subgroups. Besides the Company’s own European Phase-IIb trial DIAGNODE-2 where the diabetes vaccine is administered directly into a lymph node, three investigator initiated clinical trials are ongoing with Diamyd®. Diamyd Medical also develops the GABA-based investigational drug Remygen® for regeneration of endogenous insulin production. An investigator-initiated Remygen® trial in patients living with type 1 diabetes for more than five years is ongoing at Uppsala University Hospital. An investigator-initiated trial with GABA and Diamyd® in patients recently diagnosed with type 1 diabetes is also ongoing at the University of Alabama at Birmingham, USA. Diamyd Medical is one of the major shareholders in the stem cell company NextCell Pharma AB and has holdings in the medtech company Companion Medical, Inc., San Diego, USA.
Diamyd Medical’s B-share is traded on Nasdaq First North under the ticker DMYD B. FNCA Sweden AB is the Company’s Certified Adviser; phone: +46 8-528 00 399, e-mail: email@example.com
For further information, please contact:
Ulf Hannelius, President and CEO
Phone: +46 736 35 42 41
Diamyd Medical AB (publ)
Kungsgatan 29, SE-111 56 Stockholm, Sweden. Phone: +46 8 661 00 26, Fax: +46 8 661 63 68
E-mail: firstname.lastname@example.org Reg. no.: 556242-3797 Website: https://www.diamyd.com
The information was submitted for publication, through the agency of the contact person set out above, at 11.15 CET on June 10, 2019.