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Diamyd investment in Companion will lead to development of superior insulin treatment for people living with diabetes.
Companion Medical, Inc., a San Diego based medical device company developing advanced systems for delivery of insulin and other drugs, has announced an investment by Diamyd Medical AB. “We are very excited to have Diamyd make a substantial investment in our series A financing. Diamyd has deep experience and contacts in the international diabetes space and we look forward to their involvement,” said Sean Saint, President and CEO of Companion Medical. “Diamyd’s investment, along with our other investors, will enable Companion to complete development of our product, which we believe addresses a significant unmet need in the diabetes space.”
“We are very pleased to have had the opportunity to invest in Companion with its skilled and experienced team,” says Peter Zerhouni, President and CEO of Diamyd Medical. “This investment enables us to further expand our diabetes portfolio and enter the medical device market. Companion is developing products with a significant market potential. Diamyd will sit on the Board of Directors of Companion Medical as well as represent Companion in the Nordic countries.
About Companion Medical:
Companion Medical, Inc. is a San Diego based medical device company currently focused on the diabetes space. Companion is developing advanced tools and technologies for people living with diabetes who require insulin. While insulin pumps currently offer the best tools available, the vast majority of people with diabetes either cannot or will not use a pump. Companion is developing a superior, cost effective solution that combines the best attributes of current solutions with advanced data management technologies to address the large global market for insulin delivery systems.
For further information, please contact:
Sean Saint, President and CEO Companion Medical, Inc.
Peter Zerhouni, President and CEO Diamyd Medical AB
Phone: +46 8 661 00 26. E-mail: firstname.lastname@example.org
Diamyd Medical is a Swedish diabetes company. The Company’s primary development project consists of the GAD-based diabetes vaccine Diamyd® for the treatment and prevention of autoimmune diabetes. Two Swedish researcher-initiated Phase II studies with Diamyd® are ongoing. One study evaluates whether the diabetes vaccine can prevent type 1 diabetes in children who are at high risk of developing the disease, while the other study evaluates whether Diamyd® in combination with vitamin D and ibuprofen can preserve the body's own ability to regulate the blood sugar level in children and adolescents newly diagnosed with type 1 diabetes. Diamyd Medical’s Series B share is traded on NASDAQ OMX First North under the ticker DMYD B.