DiaMedica Therapeutics Announces the Early Exercise of Warrants from Strategic Investor
October 27 2017 - 8:00AM
DiaMedica Therapeutics Inc. (the
“
Company”) (TSX Venture:DMA)
(OTCQB:DMCAF), announces the receipt of approximately USD$605,263
in gross proceeds from the early exercise of 2,631,579 April 2017
warrants at USD$0.23 (CAD$0.31) per share.
“We are pleased to receive the early warrant
exercise as we continue to execute on our development plans,”
stated Mr. Rick Pauls, President and CEO of DiaMedica Therapeutics.
“We look forward to finishing 2017 strong as we initiate the phase
2 REMEDY trial for acute ischemic stroke and prepare to initiate a
clinical study in patients with chronic kidney disease, as well as
other potential corporate initiatives.”
About DM199 Clinical
Progress:
DM199 is a recombinant (synthetic) human tissue
kallikrein (“KLK1”) protein to treat neurological and kidney
diseases. DiaMedica has completed five clinical trials with DM199,
including single ascending and multiple ascending doses, studies in
diabetic patients, and a Phase 1 pharmacokinetic study to confirm
dosing strategies. In addition to a good safety and tolerability
profile, DM199 showed the anticipated activity, lowering blood
pressure, over the course of treatment in multiple clinical
studies. In the recently completed Phase Ib pharmacokinetic study,
DiaMedica identified intravenous and subcutaneous dose levels of
DM199 that produces sustained plasma levels known to be therapeutic
in stroke patients. This profile should allow DM199 to be safely
and conveniently administered to stroke patients during their
initial hospitalization and after they are sent home. The sustained
plasma exposure of DM199 should provide continuous enzyme
replacement therapy to optimally benefit patients and is
potentially superior to the urinary form of KLK1, Kailikang®, a
prescription drug approved in China for acute ischemic stroke.
About DiaMedica Therapeutics
Inc.
DiaMedica Therapeutics is a clinical stage
biopharmaceutical company focused on developing novel treatments
for neurological and kidney diseases. DiaMedica’s shares are listed
on the TSX Venture Exchange under the trading symbol “DMA” and on
the OTCQB under the trading symbol “DMCAF”. For more information,
please visit www.diamedica.com.
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For further
information:Paul Papi Vice President of Business
Development 2 Carlson Parkway, Suite 260 Minneapolis, MN 55447
(617) 899-5941 info@diamedica.com
FORWARD-LOOKING
STATEMENTS
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 DiaMedica’s filings with the Canadian
securities regulators, all of which are available on SEDAR
(www.sedar.com). 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. DiaMedica 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, unless required by law. Although management
believes that expectations are based on reasonable assumptions, no
assurance can be given that these expectations will
materialize.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of the contents of this press release.
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