Australia-based Dimerix Limited (ASX: DXB) announced a non-dilutive loan facility of AUD 34 million (USD 23.9 million) with a syndicate of Australian and US independent lenders, structured to carry the company through the topline readout of its pivotal Phase III FSGS trial and into Phase II development of its second kidney disease asset — without issuing new equity.
The facility carries a 10% per annum interest rate compounding annually on drawn amounts, with repayment due by January 17, 2028. Lenders also receive an unsecured right to 30% of each milestone payment received by Dimerix under DMX-200 commercial license agreements, capped in aggregate at 2.0x the amount drawn. Dimerix has elected to draw only 50% of committed funds initially — approximately AUD 17 million (USD 11.9 million) — with the remainder available at its discretion through March 31, 2027. The facility includes an option to expand total commitments to AUD 50 million (USD 35.1 million) before that date, though the company said it has no current plans to access the additional capacity. Dimerix said it anticipates repaying the facility from future licensee milestone payments, new license fees, or capital markets access.
DMX-200, a CCR2 antagonist co-administered with a standard-of-care angiotensin II receptor blocker, is being evaluated in the fully recruited ACTION3 Phase III trial across 286 adult patients in 21 countries for focal segmental glomerulosclerosis (FSGS), a rare kidney disease with no currently approved therapies in the US. Full enrolment was completed in December 2025, and a blinded statistical assessment completed in April 2026 confirmed the study retains greater than 90% statistical power for its primary endpoint. A topline readout is expected in the 2027 timeframe. The facility also supports initiation of a Phase II study of DMX-652, a USP30 inhibitor acquired from Mission Therapeutics in July 2026 for up to USD 292 million, targeting prevention of acute kidney injury following cardiac surgery; first patient dosing is anticipated in H1 2027.