Swedish diabetes company raises USD 17.5m for phase III trial

Diamyd Medical has raised funding through directed share issues to help construct production facilities and begin phase III study of its diabetes vaccine.

Photo: Diamyd Medical / PR

Among other things, the need for extra funding for a phase III study with Diamyd Medical's diabetes vaccine candidate has made the Swedish company carry out a directed share issue.

The equity issuance, which has raised USD 17.5m (DKK 110m) for the company, targeted several institutional investors as well as qualified private investors in Sweden.

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