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Diamyd Shares Surge on $625M Diabetes Deal with J&J Unit

By Cormac Sheridan

Wednesday, June 23, 2010
Shares in Diamyd Therapeutics AB surged by around 30 percent Tuesday on news of a potential $625 million partnering deal with Ortho-McNeil-Janssen Pharmaceuticals (OMJP) Inc., involving its Phase III therapeutic vaccine for Type I diabetes, which is also called Diamyd. The Stockholm, Sweden-based company is getting $45 million up front and could earn up to $580 million more in development and commercial milestones. It would also receive tiered royalties on product sales. (BioWorld International)

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