Advanz in-licenses Dimerix' DMX-200

Shares of Melbourne, Australia-based Dimerix (ASX: DXB) shot up 154% to A$0.16 on the news of a licensing deal with privately-held UK-based drugmaker Advanz Pharma.

Under the deal, Advanz will gain exclusive rights for the European Economic Area, the UK, Switzerland, Canada, Australia, and New Zealand for the commercialization of Dimerix’ Phase III drug candidate DMX-200 for the treatment of focal segmental glomerulosclerosis (FSGS) kidney disease, following regulatory approval.

Dimerix retains all rights to commercialize DMX-200, its lead investigational product, outside of these territories. DMX-200 is currently in global Phase III clinical development. Dimerix will continue to fund and execute the global ACTION3 Phase III study for DMX-200 in FSGS patients, while Advanz will be responsible for submission and maintenance of the regulatory dossier in the licensed territories, as well as all sales and marketing activities.