Dimerix Receives Initial $10 Million Upfront Payment Under Everest Medicines License Deal; Shares Gain 4%

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Dimerix (ASX:DXB) received an initial $10 million upfront payment under a license agreement with Everest Medicines, according to a Thursday filing with the Australian bourse.

Everest holds exclusive rights to commercialize DMX-200 for the treatment of kidney disease focal segmental glomerulosclerosis across Greater China, South Korea, and Southeast Asia.

Dimerix said it is eligible to receive up to an additional $330 million in success-based development, regulatory, and commercial milestone payments, in addition to tiered royalties on net sales of the DMX-200 in the licensed regions.

The company's shares gained 4% in recent Thursday trade.

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