WINNIPEG, Manitoba, Canada – October 6, 2011 – DiaMedica Inc. (TSX-V: DMA) a biopharmaceutical company focused on the development of novel treatments for diabetes announces that the Company has received the 2011 Emerging Company of the Year Award from the Life Science Association of Manitoba (LSAM). The Life Science Association of Manitoba represents the provinces biotechnology, pharmaceutical, medical device and health products industries.
The Emerging Life Science Company of the Year award celebrates a company based in Manitoba that is recognized for their growth potential. They will have distinguished themselves from their peers with demonstrated technology innovation and achievement of milestones.
LSAM builds and supports the industries through: Sector Promotion, Training and Advocacy. The Association’s annual awards recognize leaders and innovators of the life science community.
The Company also announced that it has issued 520,000 stock options to officers and directors under the terms of the Company’s stock option plan. The options have an exercise price of $1.15 and a term of 10 years. The grant of options is subject to acceptance by the TSX Venture Exchange.
DiaMedica is a biopharmaceutical company that has developed novel therapeutic compounds aimed to improve the lives of patients with diabetes and other major, medically-unmet diseases. DiaMedica’s lead compound, DM-199, represents a novel approach to treating Type 1 and Type 2 diabetes by demonstrating significant results against three major aspects of these diseases: 1) halting the autoimmune attack on beta cells; 2) proliferating insulin producing beta cells and 3) improving glucose control.
DiaMedica is also developing DM-204, a monoclonal antibody that inhibits the enzyme glycogen synthase kinase 3 beta (GSK3B). In pre-clinical studies, DM-204 significantly improved glucose control and decreased blood pressure.
The company is listed on the TSX Venture Exchange under the trading symbol ‘DMA’.
For more information, please contact:
President & CEO