The funding will be applied to the company’s DM-99 development program for the treatment of type 2 diabetes.
Reggie Bowerman, president and CEO of DiaMedica, said: “We are very pleased that the National Research Council of Canada Industrial Research Assistance Program has seen the merit in and chosen to support the development of this exciting technology.
“DiaMedica has previously announced encouraging preclinical and proof-of-concept clinical trial results with DM-99 and we will use this funding to further advance this important development program.”