News and Announcements
Dimerix Limited (ASX: DXB) Raises $3 million through Entitlement Offer
- Published January 31, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Melbourne based Dimerix Limited declared the outcome of its Entitlement offer on 24th January 2018, and shares pertaining to this offer will have been issued to concerned parties on 25th January 2018.
- Being a biotechnology firm, Dimerix has been engaged in finding innovative and effective cures for various chronic health conditions like kidney disease, cancer, multiple sclerosis and so on.
- CEO of the company, Kathy Harrison, has expressed satisfaction at the active participation by the management, directors and principal shareholders of the company in the offer.
Dimerix Limited (ASX: DXB) has declared results of its entitlement offer that it had announced on 6th December 2017. Having opened on 13th December 2017, the offer closed on 19th January 2018. During this period, the total amount raised was $3 million of which $1.3 million was subscribed to by directors, management and principal shareholders of the company.
Melbourne-based Dimerix is a biotechnology firm which is dedicated to the task of finding safe treatment methodologies to meet the incomplete medical requirements of patients. To ensure that its innovative therapies are effective, the company treats research and technology as its main cornerstones.
Currently, the main focus of the company is to identify an effective treatment method for chronically affected kidneys and progress is being made through the Phase 2 trials under a program named DMX 200. Other medical conditions for which the company intends to develop a therapeutic treatment for are diseases related to fatty liver, eyes, multiple sclerosis and cancer.
Apart from its Entitlement offer, Dimerix has also been in the news recently from the shareholders’ perspective. Shares of the company have been under scrutiny in terms of their financial feasibility and some of the tools that are being used for evaluation are Commodity Channel Index, Williams %R, relative strength index and other technical indicators.
CEO of Dimerix, Kathy Harrison, has expressed her happiness at the proactive role undertaken by shareholders in the Entitlement Offer. She has further claimed that the funds raised would be channelled towards the various research projects of the company. As per the timetable, shares pertaining to the offer will have been issued on 25th January 2018.
About Dimerix Limited (ASX: DXB)
Dimerix Limited (ASX: DXB) is a clinical-stage drug development company with our lead program DMX-200, currently in Phase II clinical trials for Chronic Kidney Disease (CKD).
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