Dimerix Secures US$10 Million Upfront from Everest Medicines for DMX-200 in Asia

Significant Upfront Boost from Everest Medicines

Dimerix Limited (ASX:DXB) has banked a US$10 million (A$14.1 million) upfront payment from Everest Medicines, marking a major milestone in its global commercialisation strategy for DMX-200. The deal grants Everest exclusive rights to develop and commercialise DMX-200 for focal segmental glomerulosclerosis (FSGS) across Greater China, South Korea and Southeast Asia, territories estimated to house between 500,000 and 1,000,000 FSGS patients.

This is the fifth regional licensing agreement Dimerix has secured for DMX-200, following deals with Advanz Pharma, Taiba Rare, Fuso Pharmaceutical Industries, and BioMarin Pharmaceutical Inc. Collectively, these partnerships have delivered over A$80 million in upfront payments and position Dimerix to potentially receive around A$1.9 billion in milestone payments plus tiered royalties on net sales.

Milestones and Royalties Could Drive Long-Term Value

Beyond the upfront cash, Dimerix is eligible for up to US$30 million in development and regulatory milestone payments, plus up to US$300 million in commercial milestones from Everest Medicines. The deal also includes tiered royalties ranging from 10% to 15% on net sales within the licensed regions. These payments hinge on successful clinical and commercial progress but represent a significant potential revenue stream for Dimerix as DMX-200 advances.

CEO Dr Nina Webster highlighted Everest’s expertise in rare kidney diseases as a key asset for the partnership and noted the upfront payment strengthens Dimerix’s balance sheet. The company is well funded to navigate critical upcoming events, including the completion of the ACTION3 Phase 3 trial for DMX-200 and the initiation of a Phase 2 trial for its second kidney drug candidate, DMX-652.

ACTION3 Phase 3 Trial Fully Enrolled and Progressing

The ACTION3 Phase 3 study, pivotal for DMX-200’s regulatory approval, has completed recruitment with 333 patients enrolled across 219 sites in 21 countries, including major markets such as the US, Europe, Japan, China, Australia, and New Zealand. The trial is designed to evaluate DMX-200’s efficacy and safety in FSGS patients already on standard angiotensin II receptor blocker therapy. Treatment and follow-up are underway, with the final adult patient expected to complete dosing by March 2028.

Meanwhile, Dimerix continues recruitment for a paediatric cohort aged 12-17, potentially extending DMX-200’s indications. The company retains rights to DMX-200 in unlicensed territories and is actively pursuing further licensing discussions to broaden its global footprint.

Expanding Pipeline with DMX-652 Targeting Acute Kidney Injury

Alongside DMX-200, Dimerix is advancing DMX-652, a Phase 2-ready oral drug candidate targeting acute kidney injury (AKI), a condition with no approved therapies and a substantial unmet clinical need. DMX-652 is designed to support mitochondrial function in injured kidney cells and has received FDA approval to proceed with its Phase 2 trial. This addition diversifies Dimerix’s pipeline and complements its kidney disease focus.