Dimerix Limited (ASX:DXB) Reports Strong Quarterly Progress
Licensing Agreement in Japan
Dimerix Limited (ASX: DXB) announced a development and license agreement in Japan. The agreement may provide up to ¥10.5 billion (approximately AU$107 million) through upfront, development, and sales milestone payments, in addition to royalties. The first payment of ¥300 million (around AU$3.1 million) is expected within 40 days. Subsequent payments include ¥400 million (AU$4.1 million) upon the initiation of the first clinical site, anticipated in Q1 2025, and up to ¥3 billion (AU$30.6 million) in further potential development milestones, plus sales milestones reaching up to ¥6.8 billion (AU$69.3 million). Royalties on net sales are set between 15-20%.
Phase 3 Clinical Trial Developments
During the quarter, Dimerix completed the recruitment for Part 2 of its ACTION3 Phase 3 trial, with a total of 154 patients now randomised. The analysis for Part 2 is anticipated in Q3 2025. The trial, targeting focal segmental glomerulosclerosis (FSGS), has successfully passed through its fifth Independent Data Monitoring Committee review. Dimerix has engaged the NEPTUNE Study Network to enhance Phase 3 recruitment efforts in the United States.
Financial Position and Incentives
Dimerix’s cash position at the close of the quarter stood at AU$21.11 million, reflecting a net operating cash inflow of AU$1.83 million for the December quarter. The financial results also include a rebate of AU$7.9 million from the R&D Tax Incentive and highlight continued strong interest in partnering opportunities for DMX-200, the company’s lead program.
Dimerix continues to foster robust partnerships and explore additional licensing opportunities globally, aiming to enhance its position in the biopharmaceutical sector targeting rare kidney diseases.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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