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Highlights
- Dimerix recruits the first subject for its DMX-200 phase 3 trial in patients with FSGS kidney disease.
- FSGS has a huge market opportunity as in the US alone, end stage renal failure amounted to an estimated cost of US$55 billion per year in 2021.
- Global Health secures three contracts with private hospitals, representing a combined value of AU$185,400 in annual recurring revenue and AU$110,000 in professional services.
The benchmark of Australian healthcare sector, S&P/ASX 200 Healthcare, ended in the red this month, losing 0.46% on a month-to-date basis. Aligning with the index, most healthcare stocks closed off the month on a negative note. However, healthcare companies have continued their operations backed by strong research and commercial activities, holding a positive outlook.
On that note, let us look at this week’s recent updates from two ASX healthcare companies Dimerix, Global Health and how they are advancing towards a better commercial opportunity.
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Dimerix recruits first patient in kidney clinical trial
Dimerix Limited (ASX:DXB), a biopharmaceutical company, has recruited the first patient for its DMX-200 phase 3 trial in patients with focal segmental glomerulosclerosis (FSGS) kidney disease. Dimerix is developing new innovative therapies for unmet medical needs. The company’s product candidates are:
- DMX-200: For FSGS, respiratory complications associated with COVID-19 and Diabetic Kidney Disease
- DMX-700: For Chronic Obstructive Pulmonary Disease (COPD)
Orphan drug designation: FSGS causes irreversible scarring in the kidney’s filtering units (glomeruli). It is a rare disease that leads to permanent damage and eventually failure of the organ. As FSGS has no effective treatment, Dimerix has received Orphan Drug Designation for DMX-200 in both the US and Europe for the disease.
Global market opportunity - About 210,000 people suffer from FSGS worldwide, and it has a global compound annual growth rate of 8%. In the US alone, end-stage renal failure represented an estimated cost of US$55 billion per year in 2021.
The Phase 3 trial or ACTION3 trial will recruit from 12 different countries worldwide. It will assess the efficacy and safety of DMX-200 in patients with FSGS who are receiving a stable dose of an angiotensin II receptor blocker (ARB).
Data source: ASX data as of 01 June 2022
Global Health inks three contracts with private hospitals
Global Health Limited (ASX:GLH) offers digital health solutions to the Australian healthcare industry. The company offers different types of customised software and SaaS (Software as a service) solutions to health businesses, helping them become more efficient and deliver excellent patient care.
This week, the company secured contracts with three private hospitals in New South Wales and Western Australia. Under the contract, Global Health will implement a range of solutions, including MasterCare Patient Administration System (PAS), Discharge Summaries, in-patient Electronic Medical Records (EMR), cloud hosting and digital engagement platform.
Image source: © 2022 Kalkine Media®
Commercial value - The contracts represent a combined value of AU$185,400 in annual recurring revenue and AU$110,000 in professional services.
Further, they indicate that the company is progressing strongly in sales and marketing, emphasising the highly prospective pipeline in place to target further developing opportunities.
Do read: DXB, AT1, JTL: How did these healthcare penny stocks fare in March quarter?
