DiaMedica's DM-199 and DM-204 Both Named to Windhover's "2011 Top 10 Cardiovascular/Metabolic Projects to Watch"

DiaMedica Inc. (TSX VENTURE:DMA) a biopharmaceutical company focused on the development of novel treatments for diabetes, announces that its DM-199 and DM-204 products have been selected by Windhover Information as one of the 2011 Top 10 Most Interesting Cardiovascular/Metabolic Projects to Watch for strategic partnerships. DiaMedica's DM-199 and DM-204 programs, both for the treatment of diabetes, were selected by an independent committee assembled by Windhover Information, a division of Elsevier Business Intelligence, and independent consultants.

"These companies have been screened using a strict set of judging criteria for the Top 10 award and represent what our committees considered the most attractive cardiovascular/metabolic program opportunities the industry has to offer," said David Cassak, Vice President, Windhover Conferences. "Winners have met rigorous criteria, including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities (biotech and pharma), potential for new opportunities beyond initial indications and corporate stability."

Past Windhover Top 10 candidates have signed a total of over $17 billion in acquisitions and alliances.

"Recognition from Windover Information represents a industry honor and will provide DiaMedica's programs exposure to potential partners on an international level," said Rick Pauls, President and CEO of DiaMedica. "DM-199 and DM-204 have demonstrated exceptional pre-clinical results in treating Type 1 diabetes and Type 2 diabetes respectively and we look forward to showcasing these results to the world's leading pharmaceutical companies."

Along with inclusion in the "Top 10 Most Interesting Cardiovascular/Metabolic Diseases Projects to Watch," DiaMedica will present at Windhover's 6th Annual Therapeutic Area Partnerships conference November 30-December 2, in Boston, MA.

About DiaMedica

DiaMedica is a biopharmaceutical company that has developed novel therapeutic compounds aimed to improve the lives of patients with diabetes and other major, medically-unmet diseases. DiaMedica's lead compound, DM-199, represents a novel approach to treating Type 1 and Type 2 diabetes by demonstrating significant results against three major aspects of these diseases: 1) halting the autoimmune attack on beta cells; 2) proliferating insulin producing beta cells and 3) improving glucose control.

DiaMedica is also developing a monoclonal antibody, DM-204. In pre-clinical studies, DM-204 significantly improved glucose control and decreased blood pressure.

The company is listed on the TSX Venture Exchange under the trading symbol 'DMA'.

Caution Regarding Forward-Looking Information

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 Company's filings with Canadian securities regulatory authorities. 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. The Company 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. Although management believes that expectations are based on reasonable assumptions, no assurance can be given that these expectations will materialize.

Contacts: DiaMedica Inc. Rick Pauls President & CEO 204.477.7590 204.453.3745 (FAX)rpauls@diamedica.com

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