Australian company Dimerix (ASX:DXB) has received an initial payment of €6.5 million ($10.7 million) from its partner, UK-based Advanz Pharma.
Under the agreement between the two companies, Advanz has been granted exclusive rights to commercialise DMX-200 for focal segmental glomerular sclerosis (FSGS) in Europe, the UK, Switzerland, Canada, Australia, and New Zealand.
Dimerix has retained commercial rights to DMX-200 outside the Advanz territories, as well as all other indications globally. It may receive development and sales milestone payments of up to €132 million (approximately $219 million). It is also eligible to receive tiered, escalating, mid-teen to twenty per cent royalties on net sales of DMX-200 if it is successfully commercialised.
DMX-200 is currently being investigated in a placebo-controlled phase three safety and efficacy trial in patients with FSGS receiving a stable dose of an angiotensin II receptor blocker (ARB). Once the ARB dose is stable, patients are randomised to DMX200 or placebo.