Ann: Quarterly Appendix 4C and Activities Report, page-203

With regard to FSGS, the primary endpoint is safety, and they've already stated that there have been no adverse reactions in the trial. The small size of the trial means that it may not provide statistically significant efficacy results one way or another, and Nina has made it clear that they will proceed with Phase 3 regardless. Given the requirements for a Phase 3 trial for an orphan drug are way less onerous, it seems highly likely to me that DXB would prefer to run the Phase 3 trial themselves (and that perhaps explains the recent cap raise).

Regarding diabetic kidney disease, the Phase 2 trial should show efficacy, and thus determine whether a Phase 3 trial will occur or not. It will also be a much larger, longer and more expensive trial, and Dimerix would likely prefer to partner for that so they can concentrate their limited resources on a FSGS Phase 3 trial and DMX-700 development..