Dimerix (ASX:DXB) received an upfront payment of roughly AU$3.2 million from FUSO Pharmaceutical Industries in relation to a license agreement for hypertension and kidney disease drug candidate DMX 200, according to a Tuesday filing with the Australian bourse.
Under the agreement, FUSO has the exclusive rights to commercialize DMX 200 for Focal Segmental Glomerulosclerosis kidney disease in Japan. Dimerix retains all rights to commercialize DMX-200 in all territories other than those covered by FUSO, and two other licensees, namely Advanz Pharma and Taiba, per the filing.
The Australian biopharmaceutical company is entitled to receive further payments once it reaches certain development milestones.
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