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DiaMedica raises additional $2.5M to fund drug trial

Minneapolis' DiaMedica Therapeutics Inc. raised additional gross proceeds of $2.5 million through a private placement of 10,534,059 units priced 24.5 cents each.

The biopharmaceutical company had previously raised $3.8 million and plans to use the $6.3 million to complete a mid-stage study of its drug DM199 to treat acute ischemic stroke.