Mission Therapeutics has agreed to divest its phase 2‑ready acute kidney injury candidate MTX652 to Australian renal specialist Dimerix Limited in a deal worth up to US$292 million in upfront and milestone payments, alongside potential double‑digit tiered royalties on global net sales.
The Cambridge‑based biotech said the transaction validates its USP30 platform and will provide non‑dilutive capital to accelerate MTX325, its lead CNS programme currently in phase 1 development for Parkinson’s disease.
Mission described MTX652 as a first‑in‑class and best‑in‑class selective USP30 inhibitor designed to promote the removal of dysfunctional mitochondria. The asset will now be advanced by Dimerix for initial development in Acute Kidney Injury.
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.”
He added: “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, explained: “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.”
She continued: “This asset is highly complementary to our phase 3 FSGS program and broadens our development footprint across the kidney disease continuum, from acute injury through to chronic disease.”
Mission said the divestment aligns with its strategy to maximise the value of its USP30 platform by partnering assets with developers best positioned to execute in specialised therapeutic areas. Dimerix’s established renal franchise, anchored by its phase 3 ACTION3 programme in FSGS, offers MTX652 a well‑supported route to patients.
Guggenheim Securities acted as exclusive financial advisor to Mission Therapeutics, while Cooley LLP served as legal counsel.
