Dimerix Ltd (ASX:DXB) is a clinical stage biotechnology company, and has just finished presenting at the World Congress for Clinical Trials in Diabetes in Germany.
Kathy Harrison, chief executive officer for Dimerix, commented:
"These types of conferences are key to showcasing the DMX-200 program on the world stage, and are important for its commercialisation.
"We are grateful to have been given both a poster and oral presentation to promote the impact that DMX200 had on patients in our phase 2a trial."
DMX-200 in an internal drug development program, initially for the treatment of a subset of patients with chronic kidney disease.
According to the 2017 US Center for Disease Control Chronic Kidney Disease Fact Sheet, around 44% of new diagnosis of Chronic Kidney Disease in the U.S. is due to diabetes.
To fund the next steps, Dimerix is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.
The halt will remain in place until the opening of trade on Tuesday 5th December 2017, or earlier if an announcement is made to the market.