Bulletin from Annual General Meeting: One of the most significant years in Diamyd's history

Bulletin from Annual General Meeting: One of the most significant years
in Diamyd's history

At Diamyd Medical's Annual General Meeting on December 9, Elisabeth
Lindner, President and CEO of Diamyd, said that the past year was one of
the most significant years in the history of the company and that the
foundation has been laid upon which a new Swedish pharmaceutical company
can be built.

“I am very pleased that we continued to deliver according to plan in the
past year,” says Elisabeth Lindner, President and CEO of Diamyd Medical.
“Following an eventful year, we will now continue to develop Diamyd into
a new Swedish pharmaceutical company.”

In addition to the signing of a partnership agreement with
Ortho-McNeil-Janssen Pharmaceuticals, Inc. for the global development
and marketing rights for the antigen-based drug candidate Diamyd®,
several important milestones have been achieved. Among other events,
Diamyd® was granted orphan drug designation in the US and the drug
candidate NP2 Enkephalin showed promising safety data and pain relief in
a Phase I study in cancer pain. In addition, the last patient was
recruited in the company's US Phase III trial and has received the
initial injection with either Diamyd® or placebo, which means study
results can be reported by summer 2012. Results of the European Phase
III trial with Diamyd® are scheduled to be reported in spring 2011.

 

The following items were addressed at the Meeting:
Diamyd Medical's President and CEO Elisabeth Lindner gave a
retrospective view of the past year and summarized the most significant
events that took place during the fiscal year and after year-end.

The company's income statement and balance sheet were adopted and the
Board members and the Chief Executive Officer were discharged from
liability for the 2009/2010 fiscal year. The Annual General Meeting
approved the Board's proposal that no dividend be paid for the 2009/2010
fiscal year.

Anders Essen-Möller was re-elected as Chairman of the Board and Lars
Jonsson, Sam Lindgren, Henrik Bonde, Maria-Teresa Essen-Möller and Göran
Petterson were re-elected to the Board. Joseph Janes was elected as a
new Board member. Joseph Janes was born 1965, holds a B.A. Juris Doctor
and lives in the US. Janes is highly familiar with the company's
operations as a result of the time he spent as a Board member in Diamyd
Medical between 2005 and 2007, during which he served as Chairman
between 2006 and 2007.

The Annual General Meeting approved the Board's proposed guidelines for
remuneration and terms of employment for the CEO and other senior
executives. The Meeting also approved the Nomination Committee's
proposed remuneration to Board members and the Chairman of the Board.

The Annual General Meeting authorized the Board to issue new shares for
a maximum total of 10 percent of the number of shares on one or more
occasions before the next Annual General Meeting, and permitted the
Board to deviate from the shareholders' preferential rights when so
doing. In addition, The Annual General Meeting authorized the Board, for
the period until the next Annual General Meeting, to repurchase series B
shares in Diamyd Medical. The maximum number of shares repurchased shall
be such that Diamyd Medical shares held in treasury from time to time do
not exceed 5 percent of all shares in the Company.

The Annual General Meeting approved the Board's proposal to make
adjustments to the terms and conditions of outstanding employee option
programs to the extent that the holders of options are able to exercise
the earned options on any date up to the date of maturity and not just
during a specified period.

 

For more information, please contact:
Elisabeth Lindner, President and CEO Diamyd Medical AB (publ.)
Phone: +46 8 661 0026

For pictures and press material, please contact:
Andreas Ericsson, Diamyd Medical AB (publ.)
andreas.ericsson@diamyd.com
Phone: +46 8 661 0026