On November 20, 2020 Diamyd Medical reported that it will invest its pro rata share corresponding to approximately SEK 19.3 million in a rights issue in the associated company NextCell Pharma AB, which means that Diamyd Medical’s book value of the holding in NextCell Pharma after the investment increases from approximately SEK 11.7 million to approximately SEK 30.9 million (Press release, Diamyd Medical, NOV 20, 2020, View Source;ClipID=3832829 [SID1234571456]).

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Diamyd Medical is one of the main owners in NextCell Pharma with an ownership share of approximately 12.8%. The Board of Directors of NextCell Pharma has annunced its intention to decide on a fully guaranteed rights issue which, upon full subscription, will provide NextCell Pharma with approximately SEK 150 million before issue costs.

"NextCell has made impressive progress both as a company and in its development of the stem cell-based study drug ProTrans, says Ulf Hannelius, CEO of Diamyd Medical. "Through our increased investment in NextCell together with the development of our own study drugs, we work purposefully to be able to cure type 1 diabetes."