On June 16, Everest Medicines announced that it has entered into an exclusive commercialization licensing agreement with Dimerix Limited, obtaining the rights for clinical development and commercialization of DMX-200 in Greater China, South Korea, and certain Southeast Asian countries (including Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines).
Under the terms of the agreement, Everest Medicines will pay Dimerix an upfront payment of US$10 million, with potential development and regulatory milestone payments of up to US$30 million, and commercial milestone payments of up to US$300 million. In addition, Dimerix will receive tiered royalties of 10% to 15% based on the future annual net sales of DMX-200 in the licensed territories.
DMX-200 is a small molecule inhibitor of chemokine receptor 2 (CCR2), currently being developed in the pivotal Phase 3 ACTION3 study for the treatment of focal segmental glomerulosclerosis (FSGS). It has received Orphan Drug Designations from both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
Yifang Wu, Chairman of the Board of Everest Medicines, stated that the positive interim results from the global pivotal Phase 3 study of DMX-200 underscore its potential to offer a meaningful new therapy for FSGS patients, and that leveraging the company’s proven expertise in clinical development and commercialization, they are committed to accelerating access to DMX-200 in China and exploring other glomerulopathies.
Dr. Nina Webster, Chief Executive Officer and Managing Director of Dimerix, noted that the collaboration with Everest Medicines significantly expands the potential reach of DMX-200 into a large and underserved patient population, and that Everest is well positioned to maximize the opportunity in the licensed regions.
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