Perth-founded biopharmaceutical business Dimerix has launched phase three drug trials for patients with COVID-19 and kidney diseases.
The DMX-200 trials will be conducted at six sites across NSW, Queensland and Victoria in partnership with the NHMRC Clinical Trials Centre at the University of Sydney.
The drug aims to treat patients with COVID-19 and focal segmental glomerulosclerosis (FSGS), a rare kidney disorder.
NHMRC director Meg Jardine said the team was working towards developing a treatment that could benefit coronavirus patients globally.
“A safe, affordable, and effective oral treatment would be a huge advance in the fight against COVID-19,” she said in Dimerix's announcement to the market.
“Even with the widespread uptake of vaccines, there will be some who remain susceptible to the virus.
“Improving treatments for patients hospitalised with COVID-19 remains crucial.”
Dimerix, now based in Melbourne, is using proceeds from a recent $24 million capital raising to support the DMX-200 trials, which are also testing for patients with FSGS.
The disorder often led to kidney failure since there was not yet an approved pharmacologic treatment, Dimerix said.
Oversubscriptions from its share purchase plan will be used to trial DMX-200 in other states and territories, as well as advance the drug through pre-clinical development and towards clinical use.
Dimerix closed up 3.6 per cent on Friday to trade at 28 cents.
