Forum Topics DXB DXB Bear Case

Pinned straw:

Last edited 9 months ago

Found some good information on Chemokine inhibitors, how they work and challenges

Molecular determinants of antagonist interactions with chemokine receptors CCR2 and CCR5

I won't provide too much from the link but my understanding is that Chemokines are like pathways for the immune system to move to places of infection. Some key statements:

The human immune system is a remarkably intricate and precise network of specialized cells, meticulously coordinated to protect the body against injury and infection, yet its damage and dysregulation results in devastating disease states such as inflammatory and autoimmune disorders. On a wide variety of immune cells are transmembrane chemokine receptors which, in normal physiology, play pivotal roles in orchestrating immune cell chemotaxis and migration to sites of injury and inflammation via interactions with their endogenous chemokines

AND

Among factors contributing to clinical failures are suboptimal properties of drug candidates [29]. At least in inflammatory contexts, therapeutic efficacy of chemokine receptor inhibitors has been linked to high in vivo receptor occupancy over extended periods of time [47,48]. This is a challenging task, given that CCR2 antagonists have to competitively inhibit what effectively is a high-affinity (sub-nanomolar) protein-protein interaction (receptor-chemokine) with abundant levels of the competitor (chemokine). To further complicate the situation, all known inhibitors of the CCR2-CCL2 system result in an apparent “CCL2 induction” where plasma chemokine increases far above pre-treatment levels. Although this phenomenon has been known for a long time [3739,43], only recently we started to understand and appreciate its convoluted biological mechanisms which involve constitutive production of CCL2 by tissues, constitutive uptake and intracellular degradation (“scavenging”) of the chemokine by CCR2, and the inhibition of such scavenging by drugs [49,50]

Already there have been a few failures in using Chemokine blockers for treatment of Kindey disease. Some notable ones include the following:

Bristol Meyers Squibb

BMS-813160 | CCR2/CCR5 Antagonist

Diabetic Kidney Disease Terminated Phase 2 Trials for BMS-813160

Vifor in partnership with ChemoCentryx (Vifor now part of Aussie favourite CSL)

VFMCRP Press Release Phase-ii Lumina-1 Trial of Ccx140

ChemoCentryx now acquired by Amgen

Need to do more research whether Dimerix has really cracked the holy grail of chemokine blockers in kidney disease where others have failed.

Didn't want to make other holders nervous as it is now tempting to sell given the above and also that Corticosteroids were not mentioned by Dimerix as the main pathway for treatment (they could have been referring to the above trials in their slides).

In my view, I've gained a lot of understanding on this topic given I know someone who is diagnosed with kidney disease.

So been a good experience holding DMX overall.

[held]


edgescape
Added 9 months ago

Looking at the bear case and some big hitters such as Aussie favourite CSL and Amgen putting CCR in the "too hard basket" the chance of failure is a real possibility. Given we are in Phase 3 and the big hitters unable to progress past Phase 2 with their candidates, I would say there is only 50% success with failure pushing the share price back down 50%+.

So where does that leave Dimerix?

The difference between DMX-200 and the ones mentioned previously lies in the technology used to identify the drug candidate done by Professor Pflegler from the Harry Perkins Institute/University of WA.

You can read about how the Receptor-HIT technology is used to identify drug candidates..

Pfleger-taking-medical-research-out-of-the-lab

Also there is a past livewire article from Pitt Street Research that gives a rundown on DMX-200 and CCX140 (the now defunct CSL/Vifor and ChemoCentryx/Amgen candidate) which is enough to do a bull case straw if anyone has the time to cross-check all the information as I find most of their info have a few omissions with the obvious one not looking at coticosteroids as a competitor. You can download the NDF report here as the link in livewire is broken

I'll continue to hold given I'm up already by a significant margin and the possible deals on the horizon. But I will leave an open verdict as to whether this is the next Neuren and may not add this to strawman given it is already gone up to my valuation.

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conrad
Added 8 months ago

Hi @edgescape, really appreciate your posts on this company.

I just wanted to circle back to a point you made in one of your earlier posts:

there is the main hurdle that patients MUST be on the max dose of Irbersartan (300mg). That is quite a high dose and could cause really low blood pressure which is what you don't want.

Today’s 4C has the following statement:

DMX 200 is the adjunct therapy of a chemokine receptor (CCR2) antagonist administered to patients already receiving an angiotensin II type I receptor (AT1R) blocker - the standard of care treatment for blood and kidney disease.

The AT1R blocker is I’m assuming Irbersartan, so would you agree with the “standard of care” statement from Dimerix and/or is your concern around the dosage levels?

I would’ve thought that for this sort of trial you’d want to recruit as *average* a patient as possible, that is someone being treated with a regular dose or ARBs.








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edgescape
Added 8 months ago

@conrad

This is taken from the clinical trials website

Inclusion Criteria:

  1. Patients must be 12 to 80 years old
  2. A diagnosis of primary FSGS, genetic FSGS, or FSGS of undetermined cause. Confirmed by kidney biopsy or documentation of a genetic mutation in a podocyte protein associated with FSGS
  3. Must be either receiving an ARB at the maximal tolerated dose or willing to transition


https://classic.clinicaltrials.gov/ct2/show/NCT05183646

I need to read up more on ARB side effects but low blood pressure is absolutely something you don't want. Seen it first hand and it is not good.

Also if you compare recruitment rate to say Telix or Clarity Pharmaceuticals it has been pretty slow going.

Dimerix has an interesting product but like the CSL kidney portfolio from Vifor and partner Travere I don't have bullish expectations like the others.

And when I say it's been a good experience hold dxb I meant I've learnt a lot but doesn't mean I'm bullish on prospects

Still held btw.

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