http://www.ndfresearch.com/latest-research.html Dimerix (ASX:...

http://www.ndfresearch.com/latest-research.html

Dimerix (ASX: DXB)
Progress with DMX-200
An update note – Monday 27 March 2017

Hello from Stuart Roberts in Sydney,

In August of last year we initiated on Dimerix (ASX: DXB), a Melbourne and Perth-based drug discovery company being built around new ways to identify G Protein-Coupled Receptors. Today we're updating our coverage of Dimerix with a research note looking at the recent ChemoCentryx/Vifor partnering transaction and its implications for Dimerix as a drug developer working in a similar space to ChemoCentryx (Nasdaq: CCXI).

DMX-200 is a combination of two existing drugs, irbesartan (an angiotensin receptor blocker) and propagermanium (a CCR2 antagonist). The product is now in a Phase 2 study in patients with proteinuria, which is symptomatic of a range of kidney problems. Irbesartan is routinely given as standard of care to patients with chronic kidney disease. Following 2016 guidance from the FDA, Dimerix is now making plans to take DMX-200 into a pivotal study in Focal Segmental Glomerulosclerosis, an Orphan kidney disease. Dimerix has now completed recruitment for the Phase 2 study and is expected to read out data in July 2017. Recently, a US drug developer called ChemoCentryx licensed its CCR2 antagonist drug CCX140 to Switzerland’s Vifor Pharma (owned by Galenica Group) for US$50m upfront. We think this transaction suggests upside for Dimerix given the fact that Galenica didn’t take US rights where Dimerix may have IP that limits freedom to operate. Our 4-cent price target and Buy recommendation for Dimerix stays in place.

You can download a copy of NDF Research's update report on Dimerix by clicking here or visiting ndfresearch.com. I commend the update report to you. Our initiation report from August 2016 is available here.

Regards

Stuart
Nisi Dominus Frustra


Stuart Roberts,
Life Sciences Analyst,
NDF Research
@biotech_buzz
ndfresearch.com