DiaMedica Therapeutics Announces Appointment of Dr. Richard Kuntz to the Board of Directors
May 30 2023 - 8:29AM
Business Wire
Recently Retired Medtronic Chief Medical
Officer and Chief Scientific Officer with Deep Expertise in Stroke
Treatment
DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage
biopharmaceutical company focused on acute ischemic stroke and
other vascular diseases, today announced the appointment of Dr.
Richard Kuntz to its Board of Directors effective May 30, 2023.
Dr. Richard Kuntz recently retired from Medtronic plc (NYSE:MDT)
where he was the Chief Medical Officer & Scientific Officer and
a member of the Executive Committee. Prior to that, he served as
Senior Vice President and President, Neuromodulation of Medtronic
from October 2005 to August 2009. Before joining Medtronic, he was
the founder and Chief Scientific Officer of the Harvard Clinical
Research Institute in Boston. He also served as an Associate
Professor of Medicine at Harvard Medical School, Chief of the
Division of Clinical Biometrics, and as an Interventional
Cardiologist in the division of cardiovascular diseases at the
Brigham and Women’s Hospital in Boston. In addition, he served as a
founding Governor of the Patient Centered Outcomes Research
Institute (PCORI), as part of the US Affordable Care Act. He also
served as an advisor to multiple national and regional committees,
in the National Academy of Medicine and National Institutes of
Health (NIH). He is presently serving as a working group member of
NIH’s Helping to End Addiction Long-term® (HEAL) program. Dr. Kuntz
has directed numerous multicenter clinical trials and has authored
more than 250 original publications. His major interests are
traditional and alternative clinical trial design and
biostatistics.
“When it comes to treating stroke patients, the clinical
validation of enhancing local blood flow as a mechanism of action
is evident in the effectiveness of mechanical thrombectomy and tPA.
In contrast, alternative approaches like neuroprotective agents,
which do not contribute to improving blood flow, have demonstrated
limited clinical efficacy,” Commented Dr. Kuntz. “DM199 presents a
novel pharmacological strategy to enhance blood flow by improving
collateral circulation specifically in the ischemic penumbra. With
its extended 24-hour therapeutic window, DM199 holds significant
potential to benefit a substantial number of patients who are
either ineligible for or do not receive treatment with mechanical
thrombectomy or tPA.”
“We are pleased to have Rick Kuntz join our board of directors.
His experience complements and broadens the competencies of our
board,” said Rich Pilnik, DiaMedica’s Chairman. “Rick's
instrumental role in leading Medtronic's medical advancements in
neurology has positioned him as a highly valued addition to our
team. We are confident that his contributions will be invaluable at
this critical juncture for our ReMEDy2 pivotal acute ischemic
stroke trial.”
Dr. Kuntz graduated from Miami University and received his
medical degree from Case Western Reserve University School of
Medicine. He completed his residency and chief residency in
internal medicine at the University of Texas Southwestern Medical
School, Parkland Hospital, Dallas, and then completed fellowships
in cardiovascular diseases and interventional cardiology at the
Beth Israel Hospital and Harvard Medical School, Boston. Dr. Kuntz
received his Master of Science in biostatistics from the Harvard
T.H. Chan School of Public Health.
About DM199
DM199 is a recombinant (synthetic) form of human tissue
kallikrein-1 (KLK1). KLK1 is a serine protease (protein) that plays
an important role in the regulation of diverse physiological
processes including blood flow, inflammation, fibrosis, oxidative
stress and neurogenesis via a molecular mechanism that increases
production of nitric oxide and prostaglandin. KLK1 deficiency may
play a role in multiple vascular and fibrotic diseases such as
stroke, chronic kidney disease, retinopathy, vascular dementia, and
resistant hypertension where current treatment options are limited
or ineffective. DiaMedica is the first company to have developed
and clinically studied a recombinant form of the KLK1 protein. The
KLK1 protein, produced from the pancreas of pigs and human urine,
has been used to treat patients in Japan, China and South Korea for
decades. DM199 is currently being studied in patients with acute
ischemic stroke (AIS) and patients with chronic kidney disease. In
September 2021, the FDA granted Fast Track Designation to DM199 for
the treatment of AIS.
About DiaMedica Therapeutics Inc.
DiaMedica Therapeutics Inc. is a clinical stage
biopharmaceutical company committed to improving the lives of
people suffering from serious diseases. DiaMedica’s lead candidate,
DM199, is the first pharmaceutically active recombinant (synthetic)
form of the KLK1 protein, an established therapeutic modality in
Asia for the treatment of acute ischemic stroke and chronic kidney
disease. For more information visit the Company’s website at
www.diamedica.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and forward-looking information that are based on the beliefs
of management and reflect management’s current expectations. When
used in this press release, the words “anticipates,” “believes,”
“look forward,” “continue,” “could,” “estimates,” “expects,”
“intends,” “may,” “plans,” “potential,” “hope,” “should,” or
“will,” the negative of these words or such variations thereon or
comparable terminology, and the use of future dates are intended to
identify forward-looking statements and information. The
forward-looking statements and information in this press release
include statements regarding the significant potential of DM199 to
benefit a substantial number of patients who are either ineligible
for or do not receive treatment with mechanical thrombectomy or
tPA. Such statements and information reflect management’s current
view and DiaMedica undertakes no obligation to update or revise any
of these statements or information. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Applicable risks and uncertainties include, among
others, the risk that DiaMedica may not be able to lift the
clinical hold or do so in a timely manner; uncertainties relating
to regulatory applications and related filing and approval
timelines, including the risk that FDA may not remove the clinical
hold on the ReMEDy2 trial; the possibility of additional future
adverse events associated with or unfavorable results from the
ReMEDy2 trial; the possibility of unfavorable results from
DiaMedica’s ongoing or future clinical trials of DM199; the risk
that existing preclinical and clinical data may not be predictive
of the results of ongoing or later clinical trials; DiaMedica’s
plans to develop, obtain regulatory approval for and commercialize
its DM199 product candidate for the treatment of acute ischemic
stroke and chronic kidney disease and its expectations regarding
the benefits of DM199; DiaMedica’s ability to conduct successful
clinical testing of DM199 and within its anticipated parameters,
enrollment numbers, costs and timeframes; the adaptive design of
the ReMEDy2 trial and the possibility that the targeted enrollment
and other aspects of the trial could change depending upon certain
factors, including additional input from the FDA and the blinded
interim analysis; the perceived benefits of DM199 over existing
treatment options; the potential direct or indirect impact of
COVID-19, hospital and medical facility staffing shortages, and
worldwide global supply chain shortages on DiaMedica’s business and
clinical trials, including its ability to meet its site activation
and enrollment goals; DiaMedica’s reliance on collaboration with
third parties to conduct clinical trials; DiaMedica’s ability to
continue to obtain funding for its operations, including funding
necessary to complete planned clinical trials and obtain regulatory
approvals for DM199 for acute ischemic stroke and chronic kidney
disease, and the risks identified under the heading “Risk Factors”
in DiaMedica’s annual report on Form 10-K for the fiscal year ended
December 31, 2022, quarterly report on Form 10-Q for the quarterly
period ended March 31, 2023 and subsequent U.S. Securities and
Exchange Commission filings. The forward-looking information
contained in this press release represents the expectations of
DiaMedica as of the date of this press release and, accordingly, is
subject to change after such date. Readers should not place undue
importance on forward-looking information and should not rely upon
this information as of any other date. While DiaMedica may elect
to, it does not undertake to update this information at any
particular time except as required in accordance with applicable
laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230530005223/en/
Scott Kellen Chief Financial Officer Phone: (763) 496-5118
skellen@diamedica.com
Paul Papi Corporate Communications Phone: 617-899-5941
ppapi@diamedica.com
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