Diamyd Medical endocrine/metabolic news
Diamyd will allocate up to SEK30 million ($4.5 million) over the next three years to develop diabetes candidate Diamyd. Diamyd plans to provide data within three years for partnering or other funding. Last year, Diamyd said it would reduce headcount and shift its focus to its pain products NP2 Enkephalin and NG2 GAD (see BioCentury, Aug. 22, 2011).
Last year, the Ortho-McNeil-Janssen Pharmaceuticals Inc. subsidiary of Johnson & Johnson (NYSE:JNJ, New Brunswick, N.J.) terminated a 2010 deal with Diamyd and returned rights to the biotech after Diamyd missed the primary endpoint in a European Phase III trial to treat Type I diabetes. The product is a recombinant human glutamic acid decarboxylase (GAD) 65 subcutaneous vaccine (see BioCentury, May 16, 2011 & June 6, 2011). ...