Shares of biopharmaceutical company Dimerix saw an impressive increase of as much as 129.5% to A$0.140, marking their largest intra-day percentage gain since February 2013.

The surge came on the back of the company’s announcement that it has secured an exclusive license agreement with ADVANZ PHARMA Corp.

The agreement allows for the commercialization of Dimerix’s Phase 3 drug candidate DMX-200 within the European Economic Area, the UK, Switzerland, Canada, Australia and New Zealand.

DMX-200, an experimental treatment for focal segmental glomerulosclerosis (FSGS) kidney disease, could potentially earn Dimerix up to A$230 million in upfront and milestone payments in addition to royalties.

Roughly 11.5 million shares were exchanged on the news, a significant jump from the 30-day average volume of 222,253.

Despite today’s gains, the company’s stock is down by 1.4% year-to-date.** Dimerix is a biopharmaceutical company that specialises in developing innovative therapies for chronic kidney diseases.