DiaMedica Therapeutics Inc. announced that he U.S. Food and Drug Administration ("FDA") has accepted DiaMedica's Investigational New Drug application ("IND") for the initiation of a Phase Ib clinical trial of DM199 in patients with moderate or severe Chronic Kidney Disease ("CKD") caused by Type I or Type II diabetes. The multi-site clinical study will enroll 32 subjects to evaluate DM199 safety, tolerability and drug levels (pharmacokinetics) in this specific population. The study will enroll subjects over a 12 day period and will also include other end points that include renal biomarkers. The results from this Phase Ib study will assist DiaMedica in the design of upcoming Phase II studies in patients suffering from rare diseases and CKD. The DM199 drug levels from this Phase Ib study will also help determine the optimal dose levels for testing in the Phase II studies.