Australia's Dimerix climbs on license deal to commercialize drug in Middle East

** Shares of biopharma co Dimerix DXB rise as much as 13.2% to A$0.385, their highest since Aug. 16, 2021

** Co enters exclusive license agreement with Taiba Middle East FZ LLC to commercialize co's Phase-3 drug candidate DMX-200

** Under deal, Taiba will acquire rights to commercialize DMX-200 in the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, Bahrain and Iraq

** Co to receive up to A$120.5 mln ($79.89 mln) from Taiba in upfront and milestone payments, along with royalties

** DMX-200 is being developed for treatment of focal segmental glomerulosclerosis (FSGS) - a rare disease that attacks the kidney's filtering units

** As of last close, stock up 65.9% this year

($1 = 1.5083 Australian dollars)