On March 25, 2021 Diamyd Medical reported its intention to carry out a directed new share issue corresponding to a value of approximately SEK 60 million, directed at qualified investors, with deviation from existing shareholders’ preferential rights, based on the authorisation granted by the Annual General Meeting held on 26 November 2020 (the "Directed Share Issue") (Press release, Diamyd Medical, MAR 25, 2021, View Source;ClipID=3928930 [SID1234577138]). Diamyd Medical has engaged G&W Fondkommission to investigate the possibilities to conduct the Directed Share Issue.

The subscription price for the new shares in the Directed Share Issue is to be determined through an accelerated bookbuilding procedure, which will begin immediately after the announcement of this press release. The Directed Share Issue is contingent on a resolution by the Board of directors, which, alongside pricing and allocation of shares, is expected to occur prior the commencement of trading on Nasdaq First North Growth Market on 26 March 2021. The Board of directors may at any time choose to cancel the bookbuilding procedure, close earlier or later and refrain from executing the Directed Share Issue, in part of in full.

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The proceeds from the Directed Share Issue will be used for a pivotal Phase 3 trial with the diabetes vaccine Diamyd. The study is designed to confirm the efficacy and safety of Diamyd in individuals recently diagnosed with type 1 diabetes that carry the genetic HLA haplotype DR3-DQ2. Approximately 330 patients will be recruited for the study and the trial will be carried out at approximately 50 clinics in Europe and in the United States.

The reason for the deviation from the shareholders’ preferential rights is to perform a capital raise in a time and cost-effective manner and to raise capital at favorable conditions for the Company’s continued expansion, as well as to diversify the shareholder base with institutional investors.

Adviser
G&W Fondkommission has been appointed Financial adviser in connection with the Directed Share Issue. Aktieinvest FK AB is the issuing agent.