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) Read More
