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Dimerix (ASX: DXB) - Favourable interim data with DMX-200

19/10/2016

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Back in late August we initiated on Dimerix (ASX: DXB), a Melbourne and Perth-based drug discovery company being built around new ways to identify G Protein-Coupled Receptors. Today we're updating our coverage of Dimerix with a research note on some recent data, which we think are very encouraging, from the company's first clinical study of DMX-200, its lead candidate.

DMX-200 is a combination of two existing drugs, irbesartan and propagermanium. The product is now in a Phase II study in patients with proteinuria, which is symptomatic of a range of kidney problems. Following recent guidance for the FDA, Dimerix is now making plans to take DMX-200 into a pivotal study in Focal Segmental Glomerulosclerosis, an Orphan kidney disease. Dimerix reported on 4 October that 21 out of 30 patients have now been dosed in this study. Of 11 patients who have reached or passed the mid-point of the study, three have shown a ~ 50% reduction or greater in proteinuria over and above standard of care, which is very encouraging.  Final data from Part A of the Phase 2 study is expected in the second half of next year.  We value Dimerix at 2.4 cents per share base case and 5.8 cents per share optimistic case. Our target price of 4.0 cents per share sits at the midpoint of our DCF range.

You can download a copy of NDF Research's first report on Dimerix by clicking here or visiting ndfresearch.com
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    Stuart Roberts

    Senior Analyst, NDF Research

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  • Introducing NDF
  • About us
    • About our Senior Analyst
    • Disclaimer relating to research and web content
    • Financial Services Guide and General Advice Warning
  • What we do
    • The Rise of the New Analysts
    • MiFID II
  • Our sector
    • ASX-Listed Life Science companies we watch >
      • ASX-listed Life Science companies, >$200m
      • ASX-listed Life Science companies, $100-200m
    • About Australia and Australians
    • Australia and the Life Sciences
    • Life Sciences in New Zealand >
      • Building the New Zealand Life Sciences sector
    • A tour of Life Sciences Down Under
    • Australia's global competitiveness in Life Sciences >
      • Australia's Life Sciences Innovation Rating
      • Australia's Life Sciences clusters
      • Australia's World-Class Universities
      • Australia's Nobel Laureates
      • Australia's public policy support for Life Sciences
      • Australia's support for women in Life Sciences
    • The Coming Boom in Australian Life Sciences >
      • Welcome to Australia's Life Sciences Boom
    • Key organisations in the Life Science sector in Australia and New Zealand
    • Notable people in the Life Sciences sector in Australia and New Zealand >
      • Great CEOs
      • 2017 Red Hat Award Winners
      • 2018 Red Hat Award Winners
      • 2019 Red Hat Award Winners
    • The NDF Life Sciences Index >
      • 2016-2017 Year in Review
  • Our clients
  • Contact us
    • linkedin
    • Twitter
    • NDF Research Youtube Channel
  • Latest research
    • Comprehensive update reports
    • Shorter update reports
    • Initiation reports >
      • Admedus
      • Invion
    • Media and interviews
    • Presentations
    • Previous research and media, 2003-2015
    • A Brief History of the Life Sciences in Australia
    • In our library
    • Intellectual property >
      • Australian PCT patent applications
      • New Zealand PCT patent applications
      • PCT patent applications, last twelve months >
        • 2017 PCT patent applications
        • 2016 PCT patent applications
        • 2015 PCT patent applications
        • 2014 PCT patent applications
        • 2013 PCT patent applications
      • US patents >
        • 2017 US patents
        • 2016 US patents
        • 2015 US patents
        • 2014 US patents
    • Publications
    • Glossary
    • Global Life Science companies to watch
  • Blog