More opportunities to come !?! Dimerix pockets first milestone from Japanese partner
Kidney drug developer Dimerix (ASXXB) has pocketed $4.2 million as its first milestone payment from Japan’s Fuso, one of the company’s four global partners.
Signed in January this year, the Fuso compact could deliver up to $100 million of milestone payments. This is subject to progress on Dimerix’s lead phase III program, for the kidney ailment focal segmental glomerulosclerosis.
In October 2023 Dimerix inked distribution deals with the London-based Advanz Pharma (covering Europe, Canada, Australia and New Zealand).
The company followed up in May last year by entering a Middle East licensing agreement with the Oman-based pharma group, Taiba.
In its biggest deal, Dimerix last May signed up the Nasdaq-listed rare diseases house Amicus Therapeutics for the US honours.
Collectively, the deals promise $1.4 billion of potential milestones, largely contingent on eventual FDA drug approval.
The Amicus deal alone involves of US$520 million of success-based payments.
The Fuso milestone became payable on opening of the first Japanese site for the Action 3 trial.
Investors now expect likely follow-on deals in territories including China, Latin America and South Korea.
DXB Price at posting:
57.5¢ Sentiment: Buy Disclosure: Held
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XB) has pocketed $4.2 million as its first milestone payment from Japan’s Fuso, one of the company’s four global partners.
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