Dimerix Secures A$34M Facility for Kidney Disease Programs

Dimerix has secured access to up to A$34 million in non-dilutive financing to support completion of its global Phase 3 ACTION3 trial of DMX-200 (NCT05183646) in focal segmental glomerulosclerosis (FSGS) and advance DMX-652 into Phase 2 development for acute kidney injury (AKI). The facility gives the company additional funding flexibility while avoiding new equity issuance.

Financing Supports Two Clinical Programs

The financing comes from a syndicate of independent Australian and U.S. lenders and includes a previously announced A$10 million facility. Dimerix plans to initially draw 50% of the currently committed funding, with the first drawdown expected in September 2026. The remaining committed capital can be accessed at the company’s discretion through March 31, 2027.

The facility also allows total commitments to increase to A$50 million before that date, although Dimerix currently has no plans to access the additional capacity. Any undrawn balance will lapse after March 31, 2027, while the facility has a repayment date of January 17, 2028.

DMX-200 Advances in FSGS

A key use of the financing will be completion of ACTION3 (NCT05183646), a fully recruited global Phase 3 study evaluating DMX-200 in patients with FSGS. The rare kidney disorder causes progressive glomerular scarring, proteinuria and declining renal function and can ultimately lead to end-stage kidney disease.

DMX-200 is a CCR2 antagonist administered alongside an angiotensin II type 1 receptor blocker, an established treatment approach in hypertension and kidney disease. Dimerix reports that effective, targeted therapeutic options specifically approved for FSGS remain extremely limited, leaving many patients reliant on supportive approaches and non-specific immunosuppressive treatment.

The program has secured Orphan Drug Designations in the United States, Europe, the United Kingdom and Japan. Granted patents cover DMX-200 in multiple territories through 2032, with applications that could extend protection through 2042.

DMX-652 Moves Toward Phase 2 in AKI

Dimerix is also preparing DMX-652, an oral once-daily selective USP30 inhibitor, for Phase 2 development in AKI. The study will evaluate whether the candidate can prevent kidney injury and preserve renal function following cardiac surgery.

The development package includes an open U.S. Investigational New Drug application, an FDA-cleared Phase 2 protocol, pharmaceutical-grade drug product and established manufacturing methods. AKI can develop rapidly after cardiac surgery and in conditions such as sepsis, and the company notes that no approved therapies currently exist for the condition.

Commercial Funding Adds Further Runway

Dimerix has secured five commercial partners and received A$81 million in upfront payments, with potential access to another A$237 million in development milestones before commercial launch. The company expects to repay the loan facility through future licensee milestones, new licensing income and/or capital-market access.

CEO and Managing Director Dr Nina Webster said the financing provides flexibility to complete ACTION3 and advance DMX-652 while limiting shareholder dilution.

The facility provides funding support through planned ACTION3 completion and DMX-652 Phase 2 activities. Clinical, regulatory and development outcomes, however, remain dependent on trial results, regulatory processes, manufacturing requirements and other development risks.

Reference

DIMERIX SECURES A$34 MILLION NON-DILUTIVE FACILITY TO FUND KEY CLINICAL MILESTONES