Dimerix secures $34M funding facility
Full story: https://grafa.com/en/news/australia/dimerix-secures-34m-funding-facility
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Dimerix secured a non-dilutive credit facility worth $34 million.
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The deal provides key funding without issuing new equity or diluting current shareholder value.
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Capital will directly support late-stage clinical trials for the company's core kidney disease treatments.
Dimerix (ASX:DXB) has entered into an agreement for a $34 million non-dilutive facility to fund its upcoming clinical trial milestones.
The securing of debt capital allows the company to extend its cash runway without placing additional equity pressure on existing shareholders.
"The successful entry into this facility provides Dimerix with the financial flexibility needed to execute our planned development activities without dilution for shareholders," said Dimerix CEO & Managing Director Dr Nina Webster.
The biopharmaceutical company confirmed it elected to draw only the capital necessary to complete its ACTION3 Phase 3 trial of DMX-200 and Phase 2 trial of DMX-652 in Acute Kidney Injury.
Dimerix stated that kidney disease remains one of the fastest-growing causes of death worldwide, positioning its ongoing trials to address a significant unmet medical need.
Following the announcement, the Dimerix share price was unchanged at $0.29.
The Australian clinical-stage biopharmaceutical business focuses on developing therapies for severe kidney conditions.
Its flagship candidate, DMX-200, continues to progress through global Phase 3 trials targeting focal segmental glomerulosclerosis.
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