A new research note from NDF Research updates our 25 August 2016 note on Dimerix headlined ‘Hitting the GPCR spot’. Dimerix’s lead DMX-200 candidate, a combination of two existing drugs, irbesartan and propagermanium, has now completed its Phase 2a study in patients with proteinuria, which is symptomatic of a range of kidney problems. We consider the results of this study highly encouraging. Irbesartan is already used to treat kidney disease, and in Dimerix’s study 25% of patients showing a greater than 50% reduction in proteinuria beyond what was achieved with the highest dosage of standard of care therapy. The fact that 45% of the patients chose to continue with DMX-200 under a ‘Special Access Scheme’ arrangement after completion of their trial dosing suggests that the drug is working as expected. Dimerix will now prepare to initiate a Phase 2b towards the end of 2017, ahead of a potential Phase 3 in an Orphan kidney disease by 2019. Our 4-cent price target and Buy recommendation for Dimerix stays in place.
Click here for our update report. For our initiation note from 25 August 2016 click here.
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Stuart RobertsSenior Analyst, NDF Research Archives
May 2018
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