Diamyd was formed from the merger of Pittsburgh’s Nurel Therapeutics and Diamyd Medical, a publicly traded firm based in Sweden. The company is developing a gene-based therapy that selectively targets neurons for the treatment of chronic pain due to diabetes, spinal cord injuries and cancer.
Diamyd Medical is currently engaged in three ongoing clinical trials in Europe using GAD 65, a protein to treat types 1 and 2 diabetes. The company’s development programs work together to treat diabetes as well as the peripheral nerve pain and nerve damage.
The investment from public/private partnership The Pittsburgh Life Sciences Greenhouse (PLSG) is provided under the PLSG’s Pre-Seed Fund program. This funding program is designed to increase the commercialization potential of life science technologies developed by the region’s scientists and entrepreneurs. The intent is to provide financial support to increase the likelihood that the company’s technology will be successfully commercialized.