I wouldn't mind a deal like this one. The deal is worth up to...

I wouldn't mind a deal like this one. The deal is worth up to A$1 billion. Just the upfront payment of $48mill, which is paid even before attaining an FDA approval, would be in line with LTP's current mc. On top of all the milestone payments, there is a 10-25% royalty.

Dimerix (ASXXB) has filled the US gap in its network of global partnerships, today revealing a US tie-up potentially worth more than A$1 billion if the company’s kidney drug candidate is commercialised there.

Dimerix chief Dr Nina Webster dubs the compact, with the Nasdaq-listed rare diseases house Amicus Therapeutics, as “one of the biggest deals in Australian biotech history”.

Under the deal, Dimerix delivers to Amicus exclusive US rights to its drug candidate DMX-200, which is intended to treat the rare regressive fibrotic kidney disease focal segmental glomerulosclerosis (FSGS).

Amicus also has dibs on any further indications.

Amicus pays an upfront US$30 million ($48 million) to Dimerix, with the potential for up to US$520 million of success-based payments.

These consist of US$410 million of sales milestones, US$75 million on regulatory approval and US$35 million on first sales.

Dimerix is also entitled to tiered royalties on sales, in the “low tens to low twenties” range.