DMA Diamedica Therapeutics

DiaMedica (TSX VENTURE:DMA) is pleased to announce the company's entry into an
evaluation agreement with the National Institute of Allergy and Infectious
Diseases (NIAID), a component of the U.S. National Institutes of Health (NIH),
to further evaluate its monoclonal antibody (mAb), in a pre-clinical model, for
the treatment of tularemia, a serious infectious disease caused by the
Francisella tularensis bacteria. F. tularensis is classified as a Class A
bioweapon due to being highly infectious when in aerosol form. The US Center for
Disease Control (CDC) examined the total base cost to society of a tularemia
airborne attack to be $5.4 billion for every 100,000 exposed. F. tularensis is
ranked as one of the pathogens most likely to be used as a biological warfare or
bioterrorism agent and there is currently no effective treatment (Advanced Drug
Delivery Reviews 57 (2005) 1403- 1414).


"The Company has previously described that the mAb inhibits a key host protein,
glycogen synthase kinase 3 beta (GSK3B). Inhibition of GSK3B has previously been
shown to suppress the lethal inflammatory response to Francisella infection and
protects against tularemia in rats. If DiaMedica's mAb leads to GSK3b inhibition
in this model, we would expect it to prevent tularemia lethality. A successful
experiment would further validate the mechanism of our mAb in yet another model
supporting the prospect that it may find broader application in other unmet
diseases," stated Dr. Mark Williams, Vice President of Research.


The upcoming animal study is being conducted under a screening program offered
by NIAID's Division of Microbiology and Infectious Diseases. The study, to be
conducted by the University of New Mexico, will focus on providing key efficacy
data that would, if successful, support the filing of an Investigational New
Drug (IND) application to treat tularemia with this novel mAb.


In other news, the Company issued 110,000 stock options to a director with a
strike price of $1.20 and a term of five years. 


About DiaMedica 

DiaMedica is a biopharmaceutical company that develops novel therapeutic
products designed to improve the lives of people with Type 1 diabetes, Type 2
diabetes and other large, medically-unmet diseases. DiaMedica's lead drug,
DM-199, has been shown to significantly improve glucose metabolism and protect
and proliferate beta cells.


The Company is listed on the TSX Venture Exchange under the trading symbol "DMA".

FORWARD-LOOKING STATEMENTS

The statements made in this press release that are not historical facts contain
forward-looking information that involves risk and uncertainties. All
statements, other than statements of historical facts, which address DiaMedica's
expectations, should be considered forward-looking statements. Such statements
are based on management's exercise of business judgment as well as assumptions
made by and information currently available to management. When used in this
document, the words "may", "will", "anticipate", "believe", "estimate",
"expect", "intend" and words of similar import, are intended to identify any
forward-looking statements. You should not place undue reliance on these
forward-looking statements. These statements reflect a current view of future
events and are subject to certain risks and uncertainties as contained in the
Corporation's filings with Canadian securities regulatory authorities. Should
one or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. The Corporation undertakes no
obligation, and does not intend, to update, revise or otherwise publicly release
any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof, or to reflect the occurrence of any
unanticipated events. Although management believes that expectations are based
on reasonable assumptions, no assurance can be given that these expectations
will materialize.

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