DXB secures non-dilutive funding ahead of key catalyst

Today, our biotech Investment, Dimerix (ASX:DXB), got a prepayment on its R&D tax incentive claim.

The total amount prepaid was ~$2.8M and it accrues interest at the compounded rate of 1.17% per month due on 30 September of this year.

Here’s why we think this matters to DXB and our Investment:

• It’s non-dilutive (DXB doesn’t have to raise)
• It should give them enough runway into the interim analysis results later this year

These interim analysis results are for the company’s pivotal FSGS trial - the primary reason we are Invested in DXB.

We view these results as the key catalyst for DXB.

The results are due in the second half of this year:

What’s next for DXB?

We’re looking for additional patient recruitment updates on the 144 patients DXB needs to complete Part 2 of the trial which could unlock accelerated marketing approval.