Dimerix acquires Mission’s acute kidney injury candidate for $5 million upfront

Dimerix announced it has signed a deal to acquire a kidney injury drug candidate from Mission Therapeutics. The asset is ready to enter Phase 2 trials for the treatment of acute kidney injury.

Under the agreement Dimerix will pay $5 million upfront to Mission. The transaction gives Dimerix full rights to the candidate and any future development milestones.

The announcement came alongside reports that biotech Arpeggio Therapeutics appears to be winding down operations. The brief also noted unrelated updates involving Takeda, Novartis and Regenxbio.