Dimerix Limited

Dimerix was incorporated in 2004 and listed on the ASX in 2015 through the reverse takeover of Sun Biomedical. At that time, DMX-200 existed but it was not clear what indication it would fight. It came out of work done at the University of WA which essentially found that ARB (angiotensin receptor blockers) and repagermanium were a match made in heaven for fighting kidney disease. The company initiated a Phase 2a study and did it from 2014 to 2017. It found that the drug could reduce proteinuria (elevated protein in the urine and an indication of kidney disease). The study was successful as 25% of patients recorded a >50% reduction even in spite of the subjects having severe kidney disease. Dimerix opted for FSGS following analysis of a sub-group analysis as well as 2 further Phase 2 studies from 2017 to 2020 and perceived it to be a ‘low hanging fruit’. Since 2022, the company has been in Phase 3 with DMX-200 for FSGS and anticipates it gain approval in the US and the EU with success. Dimerix had several confidence kickers including the 3 licensing deals signed, the positive initial data and the failure of its main competitor (Filspari).