Dimerix Secures AU$10 Million Loan Facility From Substantial Shareholder Associate; Shares Up 9%

MT Newswires Live08:39

Dimerix (ASX:DXB) entered into a loan facility agreement with Skiptan, an associate of substantial shareholder Peter Meurs, under which the lender has agreed to advance AU$10 million to the company at its discretion, according to a Friday Australian bourse filing.

The company said the facility will support commercial manufacturing of DMX-200 ahead of potential marketing approval submissions and preparation for commercial launch, expanded access programs for eligible patients, and initiation of a phase 2 program for DMX-652, its newly acquired pipeline asset for acute kidney injury.

Negotiations are progressing to access up to a further AU$40 million in non-dilutive funding on substantially similar terms, which would further extend the cash runway beyond the Action3 Phase 3 clinical trial in DMX-200 and the Phase 2 trial in DMX-652, the filing added.

The company's shares rose nearly 9% in recent Friday trade.

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