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DiaMedica

DiaMedica says diabetic drug shows positive results in preclinical study

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DiaMedica (CVE:DMA) said Tuesday its experimental drug DM-99 for Type 1 and 2 diabetes confirmed it lowers daily insulin needs when taken with long-acting, basal insulin like Lantus.

The Winnipeg-based company said full results from the preclinical study will be published, but did not provide a date.

DiaMedica said the study revealed DM-99 alone lowers fasting glucose values in a diabetic model. 

During a tolerance test, the drug, when taken with long-acting insulin, significantly cut sugar levels immediately and well after a meal to near normal levels. 

"The results from this study suggest DM-199 co-administered with basal long-acting insulin may reduce the need for short-acting insulin around meals while improving glucose control in diabetic patients," chief executive Rick Pauls said in a statement.

"Lowering the frequency and amount of daily insulin injections and reducing the risk of hypoglycemia could significantly improve the quality of life for Type 1 diabetics and possibly for Type 2 diabetics. 

"Results are to be confirmed in future human studies."

DiaMedica is a biopharmaceutical firm focused on discovering and developing new therapies to treat diabetes and complications tied to the disease. 

The company is also developing, DM-204, a drug used to treat Type 2 diabetes. In a pre-clinical trial, the drug revealed major improvement in blood sugar control, blood pressure and cholesterol levels, it said. 

Shares in the company were trading at $1.80 on the TSX Venture Exchange. Its stock spiked to $1.94 in early morning trading.

Quick facts: DiaMedica

Price: $4.73

Market: TSX-V
Market Cap: $56.56 m
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