STOCKHOLM, Sweden, March 27, 2009 (GLOBE NEWSWIRE) -- Diamyd Medical reports today that it has acquired an exclusive license for Endomorphin technology that may be used for the treatment of pain, including neuropathic pain, that occurs in diabetes.
``In addition to this newly acquired Endomorphin technology, and our exclusive licenses for GAD, we also have an ongoing clinical development program with Enkephalin,’' says Elisabeth Lindner, President and CEO of Diamyd Medical. With Enkephalin, GAD and Endomorphin, we have completed our pain portfolio now having products targeting all three major pain receptors. This gives us a strong position in the development of products for multiple pain types, including neuropathic pain that alone has a market potential estimated to more than 3.5 billion dollars.``
The Endomorphin technology embodies a direct production and release of Endomorfin peptides with morphine-like activity directly into the spinal cord blocking further pain signal generation. Morphine has been used for centuries to provide pain relief and continues to be an essential tool in modern clinical pain management. However, in addition to pain relief, Morphine produces a host of undesirable side effects.
``The newly licensed technology allows focal delivery of Endomorphin directly to the site of pain using our NTDDS (Nerve Targeting Drug Delivery system) platform. The localized Endomorphin delivery is not expected to have side effects like systemic Morphine,’' states Darren Wolfe, President of Diamyd Inc, Pittsburgh, USA.
Diamyd Inc, Pittsburgh, PA, USA, is a fully owned subsidiary of Diamyd Medical and is a leader in the field of drug delivery to the nervous system.
The Endomorphin technology has been the subject to two peer-reviewed publications including; ``Engineering an Endomorphin-2 gene for use in neuropathic pain therapy’’ in Pain, 2007, 133:29-38 and ``Effects of transgene-mediated Endomorphin-2 in inflammatory pain’’ in Eur J Pain, 2008 Epub.
For more information, please contact: Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.) Phone: +46-8-661 0026
Darren Wolfe, President Diamyd Inc Phone +1 412-770-1310
For pictures and press material, please contact: Alexandra Fleetwood, Director Communications, Diamyd Medical AB, alexandra.fleetwood@diamyd.com Phone: +46-8-661 00 26
About Diamyd Medical
Diamyd Medical is a Swedish biopharmaceutical company focusing on development of pharmaceuticals for treatment of autoimmune diabetes and its complications. The company’s most advanced project is the GAD-based drug Diamyd(r) for type 1 diabetes for which Phase III trials are ongoing in both the U.S. and Europe. Furthermore, the company has ongoing clinical studies within chronic pain, using its Nerve Targeting Drug Delivery System (NTDDS). The company has also out-licensed the use of GAD for the treatment of Parkinson’s disease.
Diamyd Medical has offices in Sweden and in the U.S. The share is quoted on the OMX Stockholm Nordic Exchange (Stockholm:DIAM B) and on OTCQX in the U.S. (Other OTC:DMYDY.PK - News) administered by the Pink Sheets and the Bank of New York (PAL). Further information is available on the company’s web site: http://www.diamyd.com.
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
VAT no: SE556530-142001. (http://www.omxnordicexchange.com) (Stockholm:DIAM B) (http://www.otcqx.com) (Other OTC:DMYDY.PK - News) Contact:
Diamyd Medical AB (publ.) +46 8 661 00 26 Fax: +46 8 661 63 68 info@diamyd.com Linnegatan 89 B, SE-115 23 Stockholm, Sweden
