Dimerix Secures US$10M Upfront from Everest for DMX-200 Licensing
Key points
- Dimerix receives US$10 million upfront from Everest
- Everest gains exclusive rights for DMX-200 in key Asian markets
- Dimerix eligible for additional US$330 million in milestone payments
Full summary
Dimerix Ltd, a clinical-stage biopharmaceutical company, has announced receiving an initial US$10 million upfront payment from Everest Medicines for the commercial licensing of DMX-200, a treatment for Focal Segmental Glomerulosclerosis (FSGS). Everest Medicines has been granted exclusive rights to develop and commercialize DMX-200 in Greater China, South Korea, and Southeast Asia. Dimerix stands to receive up to an additional US$330 million in milestone payments and tiered royalties based on DMX-200's net sales in these regions. This partnership marks the fifth regional license agreement for DMX-200, expanding Dimerix's global commercialization strategy.
Guidance
Dimerix eligible for up to US$330 million in milestone payments
Outlook
Dimerix is optimistic about the potential of DMX-200 in treating FSGS and is advancing towards global registration and commercialization.
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