Diamyd Medical AB (publ) (OM:DMYD B) announced that the initial phase of the strategic review, initiated following the discontinuation of the Phase 3 DIAGNODE-3 trial, has been completed. The initial review phase has resulted in the identification of a short list of potential counterparties, and Diamyd Medical AB will now proceed with a focused evaluation of these. As part of the review, Diamyd Medical AB is also evaluating strategic alternatives for its biomanufacturing facility in Umeå including potential stand-alone opportunities, or a divestment.
With respect to retogatein (rhGAD65), Diamyd Medical AB does not intend to allocate further internal resources to future clinical development. Instead, efforts will be directed toward organizing, packaging, and preparing the relevant data, documentation, and know-how to enable a potential out-licensing, partnership, or transfer to an external party. Diamyd Medical AB does not intend to provide further updates on the strategic review until a definitive outcome has been reached, in accordance with applicable regulations.
Diamyd Medical AB has appointed G&W Fondkommission as financial advisor and Vinge as legal advisor in connection with the strategic review.
