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Dimerix Signs Exclusive License Agreement for DMX-200 in Greater China, South Korea, Southeast Asia, Shares Surge 18%

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Dimerix (ASX:DXB) entered into an exclusive license agreement with Everest Medicines for the commercialization of its phase 3 drug candidate DMX-200 in Greater China, South Korea, and certain Southeast Asian countries, according to a Tuesday Australian bourse filing.

The company said it is eligible to receive upfront and potential success-based milestone payments of up to about AU$481 million, comprising an upfront payment of about AU$14.1 million, up to about AU$467 million in potential milestone payments, and tiered royalties on net sales.

DMX-200 is being developed for the treatment of focal segmental glomerulosclerosis (FSGS), a rare kidney disease, with the agreement covering the Chinese mainland, Hong Kong, Macao, and Taiwan, South Korea, Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines, the filing added.

Across five transactions in total, Dimerix said it may be eligible to receive up to about AU$1.9 billion in aggregate upfront and potential milestone payments plus additional royalties on net sales, it added.

The company's shares surged 18% in recent Tuesday trade

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