News and Announcements
Sun Biomedical Tapping into US$11B Kidney Disease Sector
- Published June 30, 2015 3:37PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
June 30th 2015 by Proactive Investors
Sun Biomedical (ASX:SBN) is proceeding with the acquisition of platform drug discovery and clinical stage biotechnology company Dimerix Bioscience after satisfying all conditions precedent.
The transaction is now unconditional and should be completed by the close of business on 3rd July 2015.
Dimerix is currently recruiting in to Phase 2 clinical study for its lead therapeutic product DMX200 that is targeted at patients with chronic kidney disease (CKD).
CKD affects over 26 million people in the U.S. alone. The market in exceeds $11 billion in sales per annum and continues to grow.
Dimerix’s initial strategy is to pursue an orphan indication, Nephrotic Syndrome, and subsequently partner the development of programs in larger disease indications.
It is engaged in research collaborations with top pharmaceutical companies using its proprietary GPCR (G protein coupled receptors) drug discovery platform.
To read the full story, please click here.
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