DiaMedica Grants Options to Board Members
October 16 2008 - 3:04PM
Marketwired
DiaMedica Inc. (TSX VENTURE: DMA), a drug discovery and development
company focused on a novel approach to treating Type 2 diabetes has
announced that it has granted 75,000 incentive options to certain
officers or directors of the Company priced at $0.70. The options
are set to expire five years from the date of grant and are subject
to the approval of the TSX Venture Exchange.
About DiaMedica
DiaMedica is developing novel treatments for various stages of
Type 2 diabetes. The Company has completed a phase II clinical
trial with its lead product, DM-71, which demonstrated the ability
to reduce HbA1c levels and weight in man. The Company recently
completed a phase II clinical trial with DM-83 that resulted in a
reduction in the amount of peak insulin required to process
glucose, which could indicate that DM-83 may prolong the insulin
producing ability of the pancreas. DiaMedica's third drug in
clinical development, DM-99, has been shown, in pre-clinical
studies, to cause muscle to increase the removal of glucose from
the blood into the muscle by over 40%. Based on its newly
discovered mechanism, the Company has been issued two U.S. patents
and currently has 35 pending patents worldwide for a broad range of
diabetes and related metabolic disorders including obesity and
hypertension.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release constitute
forward-looking information within the meaning of applicable
Canadian provincial securities legislation (collectively,
"forward-looking statements"). These forward-looking statements
relate to, among other things, our objectives, goals, targets,
strategies, intentions, plans, beliefs, estimates and outlook,
including, without limitation, our anticipated future operating
results, and can, in some cases, be identified by the use of words
such as "believe," "anticipate," "expect," "intend," "plan,"
"will," "may" and other similar expressions. In addition, any
statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements.
These statements reflect management's current beliefs and are
based on information currently available to management. Certain
material factors or assumptions are applied in making
forward-looking statements, and actual results may differ
materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ
materially from these expectations include, among other things:
DiaMedica's early stage of development, lack of product revenues
and history of operating losses, uncertainties related to clinical
trials and product development, rapid technological change,
uncertainties related to forecasts, competition, potential product
liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters,
management of growth, partnerships for development and
commercialization of technology, effects of insurers' willingness
to pay for products, system failures, dependence on key personnel,
foreign currency risk, risks related to regulatory matters and
risks related to intellectual property and other risks detailed
from time to time in DiaMedica's filings with Canadian securities
regulatory authorities, as well as DiaMedica's ability to
anticipate and manage the risks associated with the foregoing.
Additional information about these factors and about the material
factors or assumptions underlying such forward-looking statements
may be found in the body of this news release, as well as under the
heading "Risk Factors" contained in DiaMedica's final long-form
prospectus dated March 12, 2007. DiaMedica cautions that the
foregoing list of important factors that may affect future results
is not exhaustive. When relying on DiaMedica's forward-looking
statements to make decisions with respect to DiaMedica, investors
and others should carefully consider the foregoing factors and
other uncertainties and potential events.
These risks and uncertainties should be considered carefully and
prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what management
believes to be reasonable assumptions, DiaMedica cannot provide
assurance that actual results will be consistent with these
forward-looking statements. DiaMedica undertakes no obligation to
update or revise any forward-looking statement.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: DiaMedica Inc. Kevin Richardson, Ph.D. (204) 478-5605
(204) 453-3745 (FAX) Email: krichardson@diamedica.com
DiaMedica Inc. (TSXV:DMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
DiaMedica Inc. (TSXV:DMA)
Historical Stock Chart
From Jul 2023 to Jul 2024