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Diamyd Medical AB: Diamyd Medical provides update on Strategic Review
Following the outcome of the DIAGNODE-3 study, the Company's immediate priority is to complete the close-out of the Phase 3 program in an efficient and responsible manner.
Upon completion of this process, the Board intends to focus on evaluating opportunities to deploy the Company's strong cash position in ways that can maximize long-term shareholder value. The Company will remain open to investments, partnerships, and strategic opportunities both within and outside the healthcare sector.
At the same time, the Company will maintain its GMP-certified biomanufacturing facility in Umea and continue efforts to secure external interest from potential acquirers, customers, partners, and projects that can utilize the facility's capabilities.
The Company will also preserve and seek to maximize the value of its Precision Medicine platform and intellectual property portfolio in autoimmune diabetes. Future development activities related to GAD-based therapies will primarily be pursued together with external funding sources, including grants, collaborations, and strategic partnerships, with the goal of minimizing capital requirements while preserving potential upside.
The Board believes this approach provides the greatest flexibility to preserve capital, evaluate new opportunities, and maximize value for shareholders.
"We are open for business," says Anders Essen-Möller, Founder and CEO of Diamyd Medical.
About Diamyd Medical
Diamyd Medical is a Swedish biotechnology company focused on precision medicine approaches for type 1 diabetes and biological manufacturing. The company's investigational drug candidate retogatein, based on recombinant GAD65, was evaluated in the Phase 3 DIAGNODE-3 trial in recent-onset type 1 diabetes. The Company has established a facility for manufacturing of biological products in Umeå, Sweden. Diamyd Medical's B share is traded on Nasdaq First North Growth Market under the ticker DMYD B. FNCA Sweden AB is the Company's Certified Adviser.