DiaMedica welcomes new board member with biopharma leadershi

MINNEAPOLIS - DiaMedica Therapeutics Inc. (NASDAQ:DMAC), a clinical-stage biopharmaceutical company, has announced the appointment of Daniel J. O’Connor to its Board of Directors, effective last Monday. O’Connor brings a wealth of experience from his tenure in the biopharmaceutical industry, including leadership roles at Ambrx Biopharma, Inc., ImClone Systems, Bracco Diagnostics, and PharmaNet, now known as Syneos Health (NASDAQ:SYNH). According to InvestingPro data, DiaMedica has shown remarkable momentum with a 130% return over the past year, trading near its 52-week high of $6.82.

O’Connor’s track record includes a significant growth period at Ambrx, leading to its acquisition by Johnson & Johnson for $2 billion. His expertise covers capital markets, business development, and clinical development, which is expected to benefit DiaMedica’s strategic and regulatory endeavors.

The company is currently engaged in developing treatments for acute ischemic stroke (AIS) and preeclampsia (PE), conditions recognized for their critical need for new therapeutic options. DiaMedica’s lead product, DM199 (rinvecalinase alfa), is a recombinant form of human tissue kallikrein-1, which is in clinical development stages for both AIS and PE. DM199 is designed to improve blood flow, reduce blood pressure, and support endothelial health.

Rick Pauls, President and CEO of DiaMedica, expressed enthusiasm for O’Connor’s addition to the board, citing his extensive experience and understanding of corporate governance as key assets for the company’s future progress.

DiaMedica Therapeutics is committed to advancing its pipeline and bringing new therapies to patients affected by serious ischemic diseases. The appointment of O’Connor is a strategic move to enhance the company’s governance and support its mission. This news is based on a press release statement.

In other recent news, DiaMedica Therapeutics Inc. has shared findings from a study on their drug candidate, DM199, for treating acute ischemic stroke (AIS). The study, published in a peer-reviewed journal, outlines the action mechanism of DM199, known as rinvecalinase alfa, which is part of the company’s ongoing Phase 2/3 ReMEDy2 trial. The trial aims to enroll up to 728 patients globally and focuses on those with persistent neurological deficits following thrombolytic treatment. DM199 is designed to enhance collateral circulation, stimulate angiogenesis, and promote cellular repair, which may reduce the risk of stroke recurrence. The study highlights DM199’s ability to induce vasodilation and improve brain perfusion, potentially improving clinical outcomes for AIS patients. Lead author Scott Kasner, MD, from the University of Pennsylvania, noted the favorable impact observed in the prior Phase 2 ReMEDy1 trial. The drug, a synthetic form of the KLK1 protein, is already used therapeutically in Asia for AIS and other vascular diseases. This development is part of DiaMedica’s efforts to advance treatments for severe ischemic diseases.

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