Additional Pharma Competence Proposed for Diamyd Board of Directors

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STOCKHOLM, Sweden, Nov. 26, 2009 (GLOBE NEWSWIRE) -- The shareholders of Diamyd Medical AB (publ) are summoned to the Annual General Meeting on Friday December 11, 2009 at 3:00 p.m. at the IVA Conference Center, Grev Turegatan 16 (Wallenberg auditorium) in Stockholm.

Under item 11 in the agenda, Diamyd's Nomination Committee now proposes that an additional Director is elected to the Board of Directors.

The Nomination Committee proposes that Goran Pettersson is elected to Diamyd's Board of Directors. Goran Pettersson, with degrees in Pharmacy and Marketing, has a long background from leading business functions in the Astra group, KabiVitrum AB, KabiPharmacia/Pharmacia&Upjohn AB and Meda AB. He is currently a Director of the Boards of Medivir AB, OxyPharma AB, Recipharm AB, Swedish Orphan AB and Vivoxid, Oy.

"We welcome Goran as candidate to Diamyd's Board of Directors. He adds extensive business experience from the pharmaceutical industry and complements the current board in an excellent way," says Elisabeth Lindner, CEO and President of Diamyd Medical.

In accordance with the published agenda, resolutions for items 9-11 are proposed as follows (changes are underlined):

Election of Board Members and remuneration etc., items 9-11

The Nomination Committee proposes the re-election of current directors Anders Essen-Moller, Lars Jonsson, Sam Lindgren and Henrik Bonde, and the election of Maria-Teresa Essen-Moller and Goran Petterson. The Committee proposes the re-election of Anders Essen-Moller as Chairman of the Board.

The proposed Board Members' remuneration is SEK 100,000 for each of the Board Members who are not employed at the Company, totaling SEK 500,000. (The Chairman of the Board is a Company employee.) Remuneration includes work on Board committees. It is proposed that the auditors should receive remuneration according to an approved account.

About Diamyd Medical

Diamyd Medical is a Swedish diabetes company focusing on the development of pharmaceuticals for the treatment of autoimmune diabetes and its complications. The company's most advanced project is the GAD-based drug Diamyd(r) for type 1 diabetes. Phase III trials for this drug are in progress in both Europe and the U.S. In addition, the company has initiated clinical studies in the U.S. in the area of chronic pain, using its Nerve Targeting Drug Delivery System (NTDDS). The company has also out-licensed the use of GAD for the treatment of Parkinson's disease. The company currently has three clinical-phase products.

Diamyd Medical has offices in Sweden and in the U.S. Shares are listed on Nasdaq OMX in Stockholm (Stockholm:DIAM B) and on OTCQX in the U.S. (Pink Sheets:DMYDY) administered by the Pink OTC Markets and the Bank of New York Mellon (PAL). Further information is available on the company's website: www.diamyd.com.

This information is disclosed in accordance with the Swedish Securities Markets Act, the Swedish Financial Instruments Trading Act, or the requirements stated in the listing agreements.

CONTACT:  Diamyd Medical AB (publ.)
          Elisabeth Lindner, President and CEO
            +46 8 661 0026
          For Pictures and Press Material:
          Andreas Ericsson 
            +46 8 661 0026
            andreas.ericsson@diamyd.com
          +46 (0)8 6610026
          Fax: +46 (0)8 661 63 68
          info@diamyd.com.
          Linnegatan 89 B, SE-115 23
          Stockholm, Sweden
          VAT no: SE556530-142001

GlobeNewswire, Inc.2009

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