Mission Therapeutics strikes deal worth up to $292 million for Dimerix Ltd to develop Acute Kidney Injury asset MTX652, sharpens focus on its CNS pipeline

• Mission Therapeutics has divested MTX652, a Phase 2-ready selective USP30 inhibitor for Acute Kidney Injury (AKI), to ASX-listed renal specialist Dimerix Limited (ASX: DXB)
• Mission will receive up to US$292 million in upfront and milestone payments, plus up to double-digit tiered royalties on global net sales
• Divestment validates Mission's USP30 platform and provides non-dilutive capital to accelerate Mission's lead CNS programme, MTX325, currently in Phase 1 clinical development for Parkinson's disease
  
  

CAMBRIDGE, United Kingdom, July 17, 2026 (GLOBE NEWSWIRE) -- Mission Therapeutics Limited ("Mission"), a clinical-stage biotechnology company discovering and developing novel therapeutics to restore cellular health and function by promoting the removal of dysfunctional mitochondria, today announced the divestment of its Phase 2-ready novel first-in-class and best-in-class therapeutic candidate, MTX652, to Dimerix Limited (ASX: DXB), a clinical-stage biopharmaceutical company focused on renal disease, for initial development in Acute Kidney Injury (AKI).

Dr Anker Lundemose, Executive Director at Mission Therapeutics, said: "MTX652 has demonstrated a compelling clinical profile in Phase 1 development completed by Mission Therapeutics to date. There is a substantial unmet need for novel efficacious therapies for acute kidney diseases and MTX652 represents a unique step forward for patients with these conditions. Dimerix's deep domain focus on renal disease and their proven operational expertise make them an excellent partner to further the development and commercialisation of this important drug. This transaction provides an expedited path to patients for MTX652. It also strengthens Mission’s financial position, which will enable us to accelerate development of our lead CNS-focused asset MTX325."

Dr Nina Webster, CEO & Managing Director at Dimerix, said: "MTX652 represents an exciting and differentiated novel compound, and the acquisition of a Phase 2-ready programme in acute kidney disease represents an important step in executing our strategy to expand our renal pipeline. This asset is highly complementary to our Phase 3 FSGS program and broadensour development footprint across the kidney disease continuum, from acute injury through to chronic disease."

Under the terms of the agreement, Mission will receive up to US$292 million in upfront, development and commercial milestones, plus up to double-digit tiered royalties on global net sales.

The divestment of MTX652 reflects Mission's strategy of maximising the value of its USP30 platform by partnering assets with developers best positioned to execute in their respective therapeutic areas. Dimerix's established renal franchise, anchored by its Phase 3 ACTION3 programme in Focal Segmental Glomerulosclerosis (FSGS), together with its core expertise and existing global network in kidney disease, offers MTX652 an accelerated and well-supported path to patients.

Guggenheim Securities acted as exclusive financial advisor to Mission Therapeutics. Cooley LLP acted as legal counsel to Mission Therapeutics.

For further information, please contact:

Mission Therapeutics Ltd:
Anker Lundemose, MD, PhD
Executive Director
[email protected]

Optimum Strategic Communications:
Mary Clark | Stephen Adams | Vareen Outhonesack
Tel: +44 (0) 203 821 6420
E-mail: [email protected]

About Mission Therapeutics
Mission Therapeutics is a world leader in discovering and developing novel therapeutics which promote the removal of dysfunctional mitochondria, promoting cell health and function. Mission is currently developing small molecule drug, MTX325 (targeting the CNS) which, through inhibition of the mitochondrial DUB enzyme USP30, promotes clearance of dysfunctional mitochondria – consequently improving overall cellular health. Mission is backed by blue chip investors including Pfizer Venture Investments, Sofinnova Partners, Roche Venture Fund, SR One, IP Group and Rosetta Capital.

About MTX652
MTX652 is a selective inhibitor of USP30 - a mitochondrial enzyme that inhibits the removal of damaged mitochondria. A small molecule, delivered as an oral once daily capsule, MTX652 is designed to restore mitochondrial quality control in injured kidney cells, a mechanism indicated in the progression of AKI caused by ischaemia (lack of blood flow resulting in oxygen starvation), toxins or sepsis related causes, as well as other renal and non-renal indications.

The MTX652 acquisition includes an open IND in the US with a Phase 2 clinical trial protocol which has been approved to proceed by the US Food and Drug Administration (FDA). The Phase 2 trial is designed to investigate MTX652’s potential to prevent kidney injury and preserve renal function.

About MTX325
MTX325 is a first-in-class, highly potent and selective, orally bioavailable and brain-penetrant USP30 inhibitor targeting improved mitochondrial quality. Mitochondrial dysfunction is a leading hypothesis in Parkinson’s disease pathophysiology. Inhibition of USP30 is a well validated approach for restoring mitophagy to achieve neuroprotection in Parkinson’s disease.
In pre-clinical assessments, MTX325 demonstrated impact on multiple aspects of Parkinson’s disease – mitochondrial dysfunction, alpha-synuclein accumulation and loss of nigrostriatal dopaminergic neurons. It is currently in clinical development for disease modification in Parkinson’s disease. Phase 1a SAD/MAD was successfully completed in healthy volunteers and CSF sampling confirmed a high level of penetration into CNS. PET study further confirmed distribution into brain parenchyma.

Proof-of-mechanism biomarker and imaging data in PD patients will be available in late 2027. Composition of matter IP exclusivity extends through 2041.

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