STOCKHOLM--(BUSINESS WIRE) -- Diamyd Medical suffered a very serious setback in the third quarter of the fiscal year. Results of the Company’s European Phase III study in type 1 diabetes did not meet the expectations and the consequences were dramatic. A very large part of the Company’s value disappeared in an instant and Diamyd’s former partner, Ortho-McNeil-Janssen Pharmaceuticals, Inc. (OMJPI), decided to return the rights to the drug candidate.
