ASX-listed Dimerix has landed one of the biggest licensing deals by an Australian biotechnology company after US pharmaceutical group Amicus Therapeutics agreed to $940 million in payments for future sales of its kidney disease drug.
Shares in Melbourne-based Dimerix were trading 50 per cent higher on news of the breakthrough on Thursday afternoon, valuing the company at $400 million. The biotech group counts former Fortescue Metals and WorleyParsons executive Peter Meurs as its biggest shareholder, with a 13.5 per cent stake.
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