The company announced the receipt of approximately USD$605,263 in gross proceeds from the early exercise of 2,631,579 April 2017 warrants at USD$0.23 (CAD$0.31) per share.
MINNEAPOLIS, Oct. 27, 2017 (GLOBE NEWSWIRE) -- DiaMedica (the “Company”) (TSX Venture:DMA) (OTCQB:DMCAF), announces the receipt of approximately USD$605,263 in gross proceeds from the early exercise of 2,631,579 April 2017 warrants at USD$0.23 (CAD$0.31) per share.
“We are pleased to receive the early warrant exercise as we continue to execute on our development plans,” stated Mr. Rick Pauls, President and CEO of DiaMedica Therapeutics. “We look forward to finishing 2017 strong as we initiate the phase 2 REMEDY trial for acute ischemic stroke and prepare to initiate a clinical study in patients with chronic kidney disease, as well as other potential corporate initiatives.”
About DM199 Clinical Progress:
DM199 is a recombinant (synthetic) human tissue kallikrein (“KLK1”) protein to treat neurological and kidney diseases. DiaMedica has completed five clinical trials with DM199, including single ascending and multiple ascending doses, studies in diabetic patients, and a Phase 1 pharmacokinetic study to confirm dosing strategies. In addition to a good safety and tolerability profile, DM199 showed the anticipated activity, lowering blood pressure, over the course of treatment in multiple clinical studies. In the recently completed Phase Ib pharmacokinetic study, DiaMedica identified intravenous and subcutaneous dose levels of DM199 that produces sustained plasma levels known to be therapeutic in stroke patients. This profile should allow DM199 to be safely and conveniently administered to stroke patients during their initial hospitalization and after they are sent home. The sustained plasma exposure of DM199 should provide continuous enzyme replacement therapy to optimally benefit patients and is potentially superior to the urinary form of KLK1, Kailikang®, a prescription drug approved in China for acute ischemic stroke.
About DiaMedica Therapeutics Inc.
DiaMedica Therapeutics is a clinical stage biopharmaceutical company focused on developing novel treatments for neurological and kidney diseases. DiaMedica’s shares are listed on the TSX Venture Exchange under the trading symbol “DMA” and on the OTCQB under the trading symbol “DMCAF”. For more information, please visit www.diamedica.com. Follow us on social media – Twitter, LinkedIn.
For further information:
Paul Papi
Vice President of Business Development
2 Carlson Parkway, Suite 260
Minneapolis, MN 55447
(617) 899-5941
info@diamedica.com
FORWARD-LOOKING STATEMENTS
The statements made in this press release that are not historical facts contain forward-looking information that involves risk and uncertainties. All statements, other than statements of historical facts, which address DiaMedica’s expectations, should be considered forward-looking statements. Such statements are based on management’s exercise of business judgment as well as assumptions made by and information currently available to management. When used in this document, the words “may”, “will”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, and words of similar import are intended to identify any forward-looking statements. You should not place undue reliance on these forward-looking statements. These statements reflect a current view of future events and are subject to certain risks and uncertainties as contained in the DiaMedica’s filings with the Canadian securities regulators, all of which are available on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results could differ materially from those anticipated in these forward-looking statements. DiaMedica undertakes no obligation, and does not intend to update, revise, or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of any unanticipated events, unless required by law. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this press release.
