DMA Diamedica Therapeutics

DiaMedica Inc. (TSX VENTURE:DMA), a drug discovery and development company
focused on novel treatments for Type 2 diabetes has announced that it has
granted 45,000 incentive options to certain officers or directors of the Company
priced at $0.70. As with all options granted since March 2007, these options are
set to expire five years from the date of grant and are subject to the approval
of the TSX Venture Exchange.


About DiaMedica

DiaMedica is developing novel treatments for type 2 diabetes based on a newly
discovered 'nerve reflex' mechanism for which the Company has been issued two
U.S. patents. DiaMedica completed a phase IIa trial with DM-71 which
demonstrated the ability to reduce HbA1c (blood sugar) levels and weight in
humans. DiaMedica also completed a phase IIa trial with its second compound,
DM-83, designed to measure changes in insulin and glucose. Preclinical results
from Vanderbilt University have shown that a third compound in development,
DM-99, increases tissue glucose uptake from the blood by over 40% (p less than
0.001) during the first 60 minutes of treatment. Results from a phase IIa
clinical trial demonstrated encouraging results that DM-99 may be able to lower
blood glucose in type 2 diabetes patients after consumption of a meal. The DM-99
program recently received a financial contribution in addition to both technical
and business oriented advisory services from the National Research Council of
Canada. DiaMedica has been recognized as one of the Top Ten(TM) Life Science
companies in Canada for the past two years by the Ottawa Centre for Research and
Innovation.


Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking
information within the meaning of applicable Canadian provincial securities
legislation (collectively, "forward-looking statements"). These forward-looking
statements relate to, among other things, our objectives, goals, targets,
strategies, intentions, plans, beliefs, estimates and outlook, including,
without limitation, our anticipated future operating results, and can, in some
cases, be identified by the use of words such as "believe," "anticipate,"
"expect," "intend," "plan," "will," "may" and other similar expressions. In
addition, any statements that refer to expectations, projections or other
characterizations of future events or circumstances are forward-looking
statements.


These statements reflect management's current beliefs and are based on
information currently available to management. Certain material factors or
assumptions are applied in making forward-looking statements, and actual results
may differ materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ materially from
these expectations include, among other things: DiaMedica's early stage of
development, lack of product revenues and history of operating losses,
uncertainties related to clinical trials and product development, rapid
technological change, uncertainties related to forecasts, competition, potential
product liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters, management of
growth, partnerships for development and commercialization of technology,
effects of insurers' willingness to pay for products, system failures,
dependence on key personnel, foreign currency risk, risks related to regulatory
matters and risks related to intellectual property and other risks detailed from
time to time in DiaMedica's filings with Canadian securities regulatory
authorities, as well as DiaMedica's ability to anticipate and manage the risks
associated with the foregoing. Additional information about these factors and
about the material factors or assumptions underlying such forward-looking
statements may be found in the body of this news release, as well as under the
heading "Risk Factors" contained in DiaMedica's final long-form prospectus dated
March 12, 2007. DiaMedica cautions that the foregoing list of important factors
that may affect future results is not exhaustive. When relying on DiaMedica's
forward-looking statements to make decisions with respect to DiaMedica,
investors and others should carefully consider the foregoing factors and other
uncertainties and potential events.


These risks and uncertainties should be considered carefully and prospective
investors should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, DiaMedica
cannot provide assurance that actual results will be consistent with these
forward-looking statements. DiaMedica undertakes no obligation to update or
revise any forward-looking statement.

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