Diamyd Provides Update on Negotiations to Acquire American Biotechnology Company

11-Nov-2005

Diamyd Medical AB announced that it is making considerable progress in the negotiations to acquire a small American biotechnology company. This acquisition target has clear overlapping interests with Diamyd's licensed GAD-technology platform in the central nervous system (CNS), and is in accordance with the Company's strategy for international expansion. Diamyd previously announced that its Executive Board plans to request approval at the Annual General Shareholders Meeting on December 12th to execute a new stock emission to generate funds for this acquisition.

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