Dimerix has received a US$10 million upfront payment from Everest Medicines under its commercial licensing agreement for its lead kidney disease candidate, DMX-200, adding further financial weight to the Melbourne biotechnology company’s push towards a pivotal Phase 3 readout.
The payment, worth approximately A$14.1 million, is the first instalment under an agreement that gives Everest exclusive rights to develop and commercialise DMX-200 across Greater China, South Korea and selected Southeast Asian markets.
For Dimerix, the transaction is the latest step in a regional partnering strategy that has delivered five commercial licence agreements for DMX-200 across key pharmaceutical markets and generated more than A$80 million in upfront payments.
Everest’s territory includes mainland China, Hong Kong, Macau and Taiwan, along with South Korea, Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines. Dimerix estimates that between 500,000 and one million people in those markets are living with focal segmental glomerulosclerosis, or FSGS, the rare and progressive kidney disease targeted by DMX-200.
Under the agreement, Dimerix remains eligible for up to US$330 million in further development, regulatory and commercial milestones. This includes up to US$30 million linked to development and regulatory progress, and up to US$300 million tied to commercial outcomes. The company is also entitled to tiered royalties of 10 to 15 per cent on net sales in Everest’s licensed territories.
The Everest agreement follows regional deals with Advanz Pharma, Taiba Rare, Fuso Pharmaceutical Industries and BioMarin.
Across the five partnerships, Dimerix says potential milestone payments could total about A$1.9 billion, excluding future royalty income.
Dimerix chief executive Dr Nina Webster said the payment strengthened the company’s balance sheet as it approaches major clinical milestones.
She said the company was now funded through completion of the ACTION3 Phase 3 trial of DMX-200 and the planned commencement of a Phase 2 study of DMX-652 in acute kidney injury.
DMX-200 is being evaluated in ACTION3, a global, randomised, double-blind, placebo-controlled Phase 3 study in patients with FSGS who are already receiving a stable dose of an angiotensin receptor blocker. Participants receive either DMX-200 at 120 mg twice daily or placebo alongside standard therapy.
The adult cohort has been fully recruited, with 333 patients randomised across 219 sites in 21 countries. The final adult participant began treatment in March 2026 and is expected to complete dosing in March 2028. Recruitment of patients aged 12 to 17 years continues separately and could support future expansion into adolescent populations.
The study is designed to assess proteinuria and the rate of decline in kidney function, measured by estimated glomerular filtration rate slope. Dimerix is seeking to generate the evidence required to support future marketing applications for a condition with no specifically approved therapy in the United States.
FSGS causes scarring in the kidney’s filtering units, resulting in proteinuria, declining renal function and, in many cases, progression to kidney failure. Current management relies largely on supportive treatment and non-specific immunosuppression. For patients with progressive or treatment-resistant disease, the journey from diagnosis to end-stage kidney disease can be short, while recurrence after transplantation remains a significant concern.
Dimerix describes DMX-200 as a CCR2 antagonist intended for use with an angiotensin II type 1 receptor blocker. The therapy has orphan drug designation in the United States, Europe, the United Kingdom and Japan, and is covered by granted patents in various markets until 2032, with further applications that may extend protection to 2042.
The company is also advancing DMX-652, an oral USP30 inhibitor being developed for acute kidney injury. Dimerix says the acquired program includes an open US investigational new drug application, an FDA-cleared Phase 2 protocol and drug supply for the planned study.
