A diabetes vaccine could be with us by the end of the decade, as several candidates are in the pipeline, according to a new report, and Sweden’s Diamyd Medical heads the pack.

The study, published by Kalorama Information, claims that diabetes vaccine products could become a $100 million market as the first product currently in Phase III trials enters the market by 2012. It argues that this could grow to $2.4 billion by 2020.

The report states that there are at least seven diabetes vaccine candidates in development and most are in Phase I and address type 1 diabetes. However, one being developed by Diamyd is currently in a global Phase III study and first results are expected in the spring of 2011. The purpose of the trial, notes Kalorama, is to confirm and evaluate the ability of the vaccine to arrest or slow the autoimmune destruction of the body's insulin-producing cells, thereby preserving the body's own ability to produce insulin.

At the end of last month, Diamyd’s chief executive Elisabeth Lindner noted that the Stockholm-based firm concluded a rights issue oversubscribed preferential rights issue, which brought in just over 219 million Swedish kroner (about $30 million) before expenses. She said “the additional capital allows us to negotiate agreements without financial pressure and gives us freedom to choose the best time-point for out-licensing of Diamyd”.

Type I diabetes affects 700,000 people worldwide each year, while over 200 million suffer from type II.