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Dimerix to raise A$2M for the development of orphan drug

Dimerix Ltd. is looking to raise A$2 million to fund the development of DMX-200 as a potential treatment of chronic kidney disease.

The company said it received commitments for 333,333,333 new shares at 0.6 Australian cent apiece, with closing expected Feb. 4.

Westar Capital Ltd. acted as lead manager to the offer.

As of Jan. 24, US$1 was equivalent to A$1.32.