Dimerix secures $10M non-dilutive loan facility

• Dimerix entered into an $10 million loan facility agreement with SKIPTAN, an associate of substantial shareholder Meurs.
• The funding extends the company's cash runway without requiring equity issuance or shareholder dilution.
• The cash injection will fund the completion of the ACTION3 Phase 3 trial for DMX-200 and the initiation of Phase 2 trials for DMX-652.

Dimerix (ASX:DXB) has secured an $10 million non-dilutive loan facility with SKIPTAN to fund its Phase 3 clinical trials and expand its pipeline.

The agreement follows net operating cash outflows of $11.5 million in the prior quarter as the business completed trial recruitment.

"To ensure Dimerix is well positioned to execute on the significant opportunity in acute kidney injury with DMX-652 and to prepare for commercial success of our lead asset, DMX-200, we have taken steps to boost our balance sheet with this non-dilutive cash injection to take us through to completion of the ACTION3 Phase 3 trial in DMX-200, as well as the initiation of the Phase 2 clinical trial in DMX-652," said Dimerix CEO and Managing Director Dr Nina Webster.

The company stated that capital drawdowns remain at its discretion, with interest payable solely on drawn funds and milestone payments tied to commercial success.

Following the announcement, the Dimerix share price was unchanged at $0.24.

The biopharmaceutical firm is developing treatments for rare kidney diseases using its proprietary ReceptorHIT screening platform.

The business has previously executed five licensing agreements for DMX-200 across international territories, valued at up to $1.9 billion in total upfront and potential milestone payments.