Dimerix draws down $17M funding facility
- Dimerix has drawn down $17 million under its non-dilutive debt facility.
- The funding extends the company's financial runway without diluting existing shareholder equity.
- Capital will directly support key clinical programmes, including the ACTION3 Phase 3 trial.
Dimerix (ASX:DXB) has drawn down $17 million under a non-dilutive debt facility to fund its key clinical pipeline.
The drawdown represents 50% of the overall $34 million facility that the business secured from Australian and United States lenders.
"The receipt of these funds further strengthens Dimerix's financial position and supports the continued execution of our key value-driving programmes, including the ACTION3 Phase 3 study of DMX-200 and the advancement of DMX-652," said Dimerix CEO and Managing Director Dr Nina Webster.
The facility incurs an interest rate of 10% per annum compounding annually, with full repayment due by Jan. 17, 2028.
Dimerix stated that drawing only half of the facility minimises financing costs while maintaining the flexibility to access the remaining balance before 31 March 2027.
Following the announcement, the Dimerix share price was up at $0.24.
The biopharmaceutical business remains focused on developing new therapies for inflammatory and kidney diseases with unmet medical needs.
Its lead candidate DMX-200 is currently being evaluated in late-stage clinical trials for focal segmental glomerulosclerosis.
