IoT tech company X2M takes 7pc stake in Dicode after major UAE contract win
X2M to take 7% stake in partner Dicode Smart Connect Electronics, reflecting confidence in its future
Dicode wins contract with major UAE construction company to install 10,000 residential apartments
Second 'Metering-as-a-Service' commercial contract for Dicode secured in the UAE in 2025
Special Report: X2M Connect will take a 7% stake in strategic partner Dicode Smart Connect Electronics, which has secured a contract with a major UAE-based construction company to install smart gas and utility meters across 10,000 residential apartments.
Australian Internet of Things (IoT) technology company X2M Connect (ASX:X2M) said the deal marks the second major commercial contract win for Dicode in 2025, following its February announcement of a contract with Ocean Gas to digitise gas distribution networks.
Dicode's core business is centred on rolling out 'Metering as a Service' in the Middle East, with the new project expanding its footprint in the Gulf Cooperation Council region's rapidly growing smart infrastructure sector.
X2M said the latest contract would generate ~$400,000 of gross profit over the next 10 years. X2M investment in Dicode shows confidence
As part of its long-term strategic alignment with Dicode, X2M will invest US$150,000 in the business for a 7% ownership share.
The company said its investment reflects X2M's confidence in Dicode's growth potential and profitability as it scales its smart metering technology and services across the Middle East.
Under the terms of the partnership, Dicode has committed to using X2M's proprietary technology Vision by X2M for a minimum of 10 years, positioning X2M as the foundational technology partner for Dicode's deployments.
Importantly, X2M retains the flexibility to directly service other customers in the region.
Watch : X2M flows new South Korean contracts 'Partnering with a well-connected regional operator'
X2M CEO Mohan Jesudason said Dicode has swiftly demonstrated its ability to capture a previously untapped smart metering market, securing two major contracts since February.
'This contract validates our strategy to enter the Middle East via the UAE by partnering with a well-connected regional operator,' he said.
'Our equity stake reflects confidence in Dicode's long-term success and strengthens our position as their exclusive technology partner.
'As demand for smart metering accelerates and Dicode expands beyond the UAE, we're well placed to become the technology platform of choice across the broader region and to support the Middle East's digital infrastructure transformation.'
Dicode Smart Connect Electronics CEO Satish Chandran said the contract win with a leading UAE construction group marked a major step in its mission to digitise energy infrastructure across the region.
'The rapid uptake of our smart metering technology underscores the scale of the opportunity in the Middle East,' Chandran said.
'Partnering with X2M gives us a world-class technology backbone that's critical to scaling efficiently and delivering at speed.
'With strong demand in neighbouring markets like Saudi Arabia, we're focused on expanding our footprint and cementing our position as the regional leader in smart utility solutions.'
This article was developed in collaboration with X2M Connect, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as IoT tech company X2M takes 7pc stake in Dicode after major UAE contract win
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News.com.au
an hour ago
- News.com.au
ASX Tech June Winners: Defence tech stocks dominate record-breaking month
S&P500 and Nasdaq hit new highs on Big Tech run
 ASX energy leads, but tech holds strong in June
 Defence stocks dominate as DroneShield, Elsight, archTIS surge Wall Street wrapped up the quarter on a strong note, with both the S&P 500 and the tech-heavy Nasdaq setting fresh record highs. The S&P500 is now up 25% since April's panic lows, a comeback so sharp it feels like the market went from 'brace for impact' to 'bring out the champagne' in under 90 days. And leading the charge was none other than Big Tech. The Nasdaq, flush with mega-cap firepower, hit fresh highs as investors kept pouring into names they now treat like digital infrastructure: Nvidia, Oracle, Meta, Apple. During the month, Oracle broke records on news of a single US$30 billion-a-year cloud deal, and Nvidia became the world's most valuable company at nearly US$4 trillion. Global X now reckons that Nasdaq could finish the year somewhere between 21,000 and 24,000 (from the current 20,400 level). This, it said, will be fuelled by profit upgrades and the broader shift in investor psychology: that AI and semiconductors aren't just themes, they're foundational to the next economic cycle. And while Wall Street partied, the ASX didn't just sit in the corner holding a warm beer. Energy stocks absolutely belted it in June, up 9% for the month, easily the strongest sector. Blame Middle East supply fears and a tight physical market keeping oil prices jumpy. Monthly return for ASX Sectors But the quiet achiever in June was tech, up 0.73% for the month and moving in rhythm with the global tune. Names like NextDC (ASX:NXT) got some love after recent pullbacks. And Goodman Group (ASX:GMG), with its data-centre exposure, continues to look like a long-term compounder. Local investors are waking up to the fact that some of our home-grown names are quietly building the digital infrastructure of the future. BlackRock is flagging defence tech as the next trend to watch. And global fund managers have picked their lane, too. They're overweight tech, underweight hesitation. ASX tech winners in June Code Name Price Month % Change Market Cap ICE Icetana Limited 0.056 300% $29,782,251 AR9 Archtis Limited 0.230 229% $66,232,445 IFG Infocus Group 0.016 167% $4,415,389 ELS Elsight Ltd 1.775 131% $322,590,650 DXN DXN Limited 0.072 100% $21,506,662 DRO Droneshield Limited 2.280 73% $1,994,130,987 VR1 Vection Technologies 0.037 68% $65,394,610 SIS Simble Solutions 0.005 67% $5,411,652 HCL Highcom Ltd 0.310 55% $31,831,628 EOS Electro Optic Sys. 2.850 54% $549,913,482 OPL Opyl Limited 0.029 53% $6,814,081 YOJ Yojee Limited 0.395 46% $128,918,944 BDT Birddog 0.068 45% $10,981,050 1CG One Click Group Ltd 0.009 29% $10,640,575 FCT Firstwave Cloud Tech 0.016 23% $27,416,299 DUG DUG Tech 1.360 21% $183,134,337 FBR FBR Ltd 0.006 20% $34,136,713 QOR Qoria Limited 0.495 19% $652,328,462 JCS Jcurve Solutions 0.039 18% $12,883,394 SLX Silex Systems 4.220 17% $1,004,806,155 PHX Pharmx Technologies 0.093 16% $55,661,131 XF1 Xref Limited 0.155 15% $34,113,913 ASB Austal Limited 6.280 14% $2,645,010,676 DUB Dubber Corp Ltd 0.018 13% $47,220,614 CDA Codan Limited 20.110 12% $3,651,389,633 ESK Etherstack PLC 0.490 11% $64,764,281 SMP Smartpay Holdings 1.040 11% $251,621,203 NXT Nextdc Limited 14.500 11% $9,286,033,305 SKO Serko 2.930 8% $365,078,440 DCC Digitalx Limited 0.075 7% $90,271,791 MP1 Megaport Limited 14.440 7% $2,323,992,834 XYZ Block Inc 102.650 6% $4,849,418,810 8CO 8Common Limited 0.017 6% $3,809,613 BEO Beonic Ltd 0.210 5% $14,880,812 OEC Orbital Corp Limited 0.095 4% $15,654,073 BCC Beam Communications 0.125 4% $10,802,740 JAN Janison Edu Group 0.145 4% $37,683,797 XRG Xreality Group Ltd 0.031 3% $20,569,973 PPK PPK Group Limited 0.325 3% $29,514,062 EML EML Payments Ltd 1.165 3% $445,146,763 DTL Data#3 Limited 7.610 2% $1,178,852,414 SPZ Smart Parking Ltd 0.885 2% $362,985,326 CCR Credit Clear 0.235 2% $99,792,431 WTC Wisetech Global Ltd 109.030 2% $36,483,944,164 EOL Energy One Limited 14.940 1% $468,075,922 GTK Gentrack Group Ltd 11.530 1% $1,242,033,461 Making news for the right reasons or just hitting milestones, here were some of the month's notable gainers… iCetana (ASX:ICE) icetana AI surged in June after signing a $3.6 million strategic partnership with global tech heavyweight SoftBank Robotics. The deal includes a $1.87 million equity investment from SoftBank Robotics Singapore, giving it a 17.6% stake in icetana AI. SoftBank Robotics Corp. was also appointed exclusive distributor in Japan, with a guaranteed minimum of around $693k in annual recurring revenue. On top of that, it agreed to a three-year, $1.08 million joint development program to integrate icetana AI's video analytics with its own robotics and security platforms. The deal is icetana AI's biggest to date and sets it up for deeper expansion into Japan's market, building on its long-standing relationship with local partner Macnica. archTIS (ASX:AR9) archTIS rose in June off the back of two major defence wins that put it firmly on the radar. The first was a breakthrough deal with the US Department of Defense, where a prime contractor signed on for 1,000 licences of NC Protect, worth $38,500. While the initial value is modest, the deal is seen as the gateway to a much bigger rollout, potentially onboarding 150,000 users across the DoD's warfighter network over the next year. Just days earlier, it landed another win, this time in the UK, signing a three-year, $263k contract with the local arm of a global aerospace and defence giant. The deal covers an initial 400 users as part of the client's Microsoft 365 cloud migration. The timing couldn't be better. With NATO recently agreeing to lift collective defence spending targets from 2% to 5% of GDP, and cybersecurity sitting high on the agenda, archTIS could be well placed here. Elsight (ASX:ELS) Elsight is another defence tech stock that lit up in June. The company locked in a fresh US$5.1 million order from its European defence OEM customer for more of its Halo connectivity units. That takes total orders from this one client to US$14.7 million for 2025 alone, a sixfold jump on what it booked for all of last year. Not bad for a company that was flying under the radar not long ago. The new contract comes off the back of that OEM securing a bunch of downstream defence clients who have now standardised on Halo as the go-to comms backbone for unmanned systems. Despite the regional conflict back home in Israel, Elsight said its production lines didn't miss a beat. DXN (ASX:DXN) DXN surged in June after landing two key contracts worth a combined $6.2 million. The big one was a $4.6 million deal with Globalstar to design and deliver three high-spec modular data centres for deployment in Hawaii by the end of 2025. The win came after a tough global tender, with DXN chosen for its strong customisation track record in defence, satellite and telco builds. Days later, it locked in a $1.6 million deal with Ventia to roll out its new indoor StructCore solution for a major Aussie telco, marking DXN's entry into the brownfield data centre retrofit market. Both contracts back the company's FY25 revenue guidance of $15.7-16 million, up at least 45% from last year. The market's now watching as DXN scales up across both satellite and telco infrastructure plays. DroneShield (ASX:DRO) Yet another defence stock on a tear. DroneShield locked in a record $61.6 million contract in June with a European military via its local reseller, marking the biggest deal in its history and larger than all of its 2024 revenue. The deal is for handheld and mobile counterdrone kits, with delivery and payment locked in for Q3 and Q4 next year. Just days later, it added a $9.7 million contract out of Latin America, again through a repeat reseller. Both wins reflect growing global demand as militaries move from testing to full-scale rollouts of counterdrone tech. With NATO ramping budgets and drone warfare heating up, DroneShield looks well-placed and well-armed for what's next. 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News.com.au
an hour ago
- News.com.au
Biocurious: Dimerix could be riding big and beautiful kidney drug success earlier than expected
With the FDA's blessing, Dimerix will use phase III trial endpoints that could lead to accelerated approval for its kidney disease drug Dimerix is confident of phase III success because an expert 'peek' at the blinded data shows it's on the right track The company is well cashed up, courtesy of four global distribution deals When it comes to clinical trials, the choice of primary endpoints can mean the difference between a trial failing and a billion-dollar blockbuster drug emerging. Plenty of drug candidates have looked successful at mid stage, but then floundered because a later stage trial has failed to meet strictly defined goals. This appears to be the case with Opthea (ASX:OPT) and the recent failure of its two phase III eye disease trials. In other cases, strictly enforced endpoints mean that a trial is too long and too expensive. But regulatory attitudes are changing. In the case of Dimerix (ASX:DXB), the US Food & Drug Administration (FDA) has delivered the kidney disease drug developer a concession on endpoints for its ongoing phase III trial. The FDA's stance not only means that the endpoints are more likely to be achieved, reducing risk. It also means the company could win accelerated FDA marketing approval before the study has completed. 'That sparked a lot of interest in the sector because suddenly the trials are more manageable,' says Dimerix chief Dr Nina Webster. The 286-patient study is testing Dimerix's candidate DMX-200 for the regressive focal segmental glomerulosclerosis (FSGS). A rare – but not ultra rare – disease, FSGS usually results in end-stage kidney failure. Endpoints have delayed the endgame Previously, the FDA had set an endpoint of how well a drug preserves kidney function. But this meant a trial had to track the patient to kidney failure or death, which could take years. This makes a trial too long and too costly. 'In rare diseases, no-one is going to do these studies,' Webster says. About five years ago the FDA became more amenable to the use of 'surrogate' endpoints These are measures that substitute a true clinical endpoint to expedite drug development. The FDA allowed the use of the kidney function biomarker, called estimated global filtration rate (eGFR). Under the dainty banner of 'Parasol' – and, no it's not an umbrella group – experts advised the use of proteinuria as a further alternative endpoint for FSGS. Proteinuria is kidney proteins seeping into the urine, while eGFR is the rate at which the spuds can cleanse blood. If proteinuria is present and the eGFR is not up to scratch, they are sure signs the kidneys are not working as they should. Conversely, if a drug reduces proteinuria or the eGFR 'slope rate' – the rate of decline – it is accepted as being effective. Parasol promises faster Action Dubbed Action 3, the Dimerix trial involves two years' treatment, as measured against placebo. The study is due to complete in 2027 when the last patients have been treated. But Dimerix now is working with Parasol to establish the exact surrogate endpoints required to front the FDA for accelerated marketing approval. Expedited approval is as allowed for some orphan drugs, such as DMX-200. 'The full study is for two years and that doesn't change,' Webster says. 'Th question is whether we can get interim approval and go to market earlier.' One possibility is that proteinuria alone could be the accepted endpoint, given proteinuria and eGFR appear to point to the same thing. That is: deteriorating kidneys. Dr Webster says an accelerated endpoint must reasonably predict the outcome of the trial. 'The question is, what do we need to see at point X to prove the end at point Y? Parasol is working with us on that. 'We're collecting all of our data on eGFR and proteinuria anyway, so it gives us a lot of flexibility in the program.' (Other geographies such as Japan and Europe still require an eGFR endpoint). Surrogate change spurs others … The FDA's stance on surrogate endpoints could be a double-edged sword for Dimerix, as it also provides succour to potential rivals. In this vein, a drug called sparsentan (brand name Filspari ) won FDA approval for a kidney condition called IgA nephropathy. The drug failed its Phase III endpoint for eGFR. But now its owner Travere Therapeutics is having a crack at FDA marketing approval for FSGS using a proteinuria endpoint. The data from the supportive trial was unblinded, which means the study custodians can't change the endpoints retrospectively. 'But the FDA is in a hard spot with this one because is an area of such high unmet need,' Webster says. 'These patients currently have limited treatment options and Filspari looks like it is doing something for them. 'We are waiting with bated breath in the hope that Filspari is approved and gives hope to these patients.' Travere has licensed the European and local sparsentan rights to our own CSL (ASX:CSL). … but we're friends, not rivals Webster says rather than rivalling DMX-200, sparsentan could be used in unison. An angiotensin receptor, sparsentan targets high blood pressure – a key cause of kidney disease in the first place. (High blood pressure causes inflammation which causes scarring and cell death). Thus, sparsentan needs to be better than the current blood pressure medication. But DMX-200 works on the secondary inflammatory pathway, with the patients already on blood pressure meds. 'It's not apples for apples with study design, which is why we are compared against the placebo and not a comparator,' Webster says. In effect, DMX-200 faces a lower comparative hurdle. 'Our drug is complementary, not competitive,' Webster says. Data 'peek' hints at trial success While a trial result is never certain, Dimerix is confident it won't meet the fate of Opthea or Percheron Therapeutics (ASX:PER). (The latter's neurological disease trial also failed to meet primary endpoints). One reason is that the Action 3 trial already has been subject to a blinded interim analysis by an arm's length expert committee, which peeked at the data. 'Blinded' means that Dimerix, the trial investigators and the patients don't know the results. In March last year the 72-patient analysis reported that DMX-200 worked better than placebo. As per protocol, the experts did not disclose the extent of this efficacy. But it was enough for the company to know that it's on the right track. 'We just know at that point in time, we were doing better and that if we carry on that trajectory, we have a shot at the endpoint,' Webster says. 'That was a big moment for us, because we wanted to confirm something similar to our smaller phase II study in a larger cohort of patients.' FDA approval could come sooner rather than later Dimerix has received over $65 million of cash, courtesy of four distribution deals that may deliver up to $1.4 billion of milestone payments plus royalties. While a further capital raising is a case of 'never say never', it's unlikely. Naturally, most of the milestones are back ended to achievements such as phase III success and FDA approval. But with accelerated approval possible after the interim analysis, the latter might be sooner than investors think. Many drug developers view the Trump Ascendancy Mark Two with trepidation. In contrast, Webster notes Trump nominated kidney disease as a key health priority in his first stab at POTUS. The financial motive alone is compelling, in that dialysis costs the US health system around US$125 billion annually. 'We are in the sweet spot of being a rare disease (with pricing benefits) and having the potential to reduce US healthcare costs,' Webster says.
The Advertiser
2 hours ago
- The Advertiser
AI gives birth to fresh hope against male infertility
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The system works by searching for the best sperm in semen samples taken from biopsies, offering embryologists another tool to select the most appropriate sperm to be used in IVF. Mr Gross said embryologists could often spend up to six hours looking for enough of the right tiny swimmers but the technology was shown to reduce search times by 75 per cent. "We found that our reducing the time to search, we were able to get through more samples, find more sperm and give these patients a better chance at having their own biological children," he said. The technology was given early access approval for research purposes at Sydney-based Virtus Health but Mr Goss hopes it could be approved for wider use across Australia by the end of the year. About 16 per cent of couples struggle with fertility, according to Family Planning NSW, while 1 in 18 babies in Australia are born through IVF each year. NSW couple Marcela and Rowan Moon experienced infertility until tests confirmed Mr Moon's semen had no sperm because of a genetic condition. "When they told us that Rowan was infertile I thought 'oh my God I can't have a child with Rowan being the father biologically' and then they said 'no, it's not like that, we can still do it'," Ms Moon said. Mr Moon had a biopsy as a day procedure and doctors took a sample, which was then used to create embryos. The first transfer was hailed a success and the couple later welcomed son Leo. "We were so lucky to get Leo first off the bat ... I don't think we really realised the rollercoaster that it was going to be," Mr Moon said. Artificial Intelligence is could make all the difference for would-be parents undergoing IVF who are struggling with the most severe forms of male infertility. The first Australian study of new technology has led to one live birth and five pregnancies in 12 months among 35 couples who would previously be considered infertile. "These are the most difficult cases that we see at an IVF clinic, so it's very motivating to be able to help people that in a normal world, naturally would never ever be able to have their own children," IVF Australia embryologist Dale Goss told AAP. "It's great to see translation from a science project essentially a few years ago and a proof of concept into something that's delivered in the clinic and actually see a healthy baby boy born." The NeoGenix Biosciences employee presented the findings from the first AI SpermSearch clinical study to the European Society of Human Reproduction and Embryology conference in Paris overnight. The system works by searching for the best sperm in semen samples taken from biopsies, offering embryologists another tool to select the most appropriate sperm to be used in IVF. Mr Gross said embryologists could often spend up to six hours looking for enough of the right tiny swimmers but the technology was shown to reduce search times by 75 per cent. "We found that our reducing the time to search, we were able to get through more samples, find more sperm and give these patients a better chance at having their own biological children," he said. The technology was given early access approval for research purposes at Sydney-based Virtus Health but Mr Goss hopes it could be approved for wider use across Australia by the end of the year. About 16 per cent of couples struggle with fertility, according to Family Planning NSW, while 1 in 18 babies in Australia are born through IVF each year. NSW couple Marcela and Rowan Moon experienced infertility until tests confirmed Mr Moon's semen had no sperm because of a genetic condition. "When they told us that Rowan was infertile I thought 'oh my God I can't have a child with Rowan being the father biologically' and then they said 'no, it's not like that, we can still do it'," Ms Moon said. Mr Moon had a biopsy as a day procedure and doctors took a sample, which was then used to create embryos. The first transfer was hailed a success and the couple later welcomed son Leo. "We were so lucky to get Leo first off the bat ... I don't think we really realised the rollercoaster that it was going to be," Mr Moon said. Artificial Intelligence is could make all the difference for would-be parents undergoing IVF who are struggling with the most severe forms of male infertility. The first Australian study of new technology has led to one live birth and five pregnancies in 12 months among 35 couples who would previously be considered infertile. "These are the most difficult cases that we see at an IVF clinic, so it's very motivating to be able to help people that in a normal world, naturally would never ever be able to have their own children," IVF Australia embryologist Dale Goss told AAP. "It's great to see translation from a science project essentially a few years ago and a proof of concept into something that's delivered in the clinic and actually see a healthy baby boy born." The NeoGenix Biosciences employee presented the findings from the first AI SpermSearch clinical study to the European Society of Human Reproduction and Embryology conference in Paris overnight. The system works by searching for the best sperm in semen samples taken from biopsies, offering embryologists another tool to select the most appropriate sperm to be used in IVF. Mr Gross said embryologists could often spend up to six hours looking for enough of the right tiny swimmers but the technology was shown to reduce search times by 75 per cent. "We found that our reducing the time to search, we were able to get through more samples, find more sperm and give these patients a better chance at having their own biological children," he said. The technology was given early access approval for research purposes at Sydney-based Virtus Health but Mr Goss hopes it could be approved for wider use across Australia by the end of the year. About 16 per cent of couples struggle with fertility, according to Family Planning NSW, while 1 in 18 babies in Australia are born through IVF each year. NSW couple Marcela and Rowan Moon experienced infertility until tests confirmed Mr Moon's semen had no sperm because of a genetic condition. "When they told us that Rowan was infertile I thought 'oh my God I can't have a child with Rowan being the father biologically' and then they said 'no, it's not like that, we can still do it'," Ms Moon said. Mr Moon had a biopsy as a day procedure and doctors took a sample, which was then used to create embryos. The first transfer was hailed a success and the couple later welcomed son Leo. "We were so lucky to get Leo first off the bat ... I don't think we really realised the rollercoaster that it was going to be," Mr Moon said. Artificial Intelligence is could make all the difference for would-be parents undergoing IVF who are struggling with the most severe forms of male infertility. The first Australian study of new technology has led to one live birth and five pregnancies in 12 months among 35 couples who would previously be considered infertile. "These are the most difficult cases that we see at an IVF clinic, so it's very motivating to be able to help people that in a normal world, naturally would never ever be able to have their own children," IVF Australia embryologist Dale Goss told AAP. "It's great to see translation from a science project essentially a few years ago and a proof of concept into something that's delivered in the clinic and actually see a healthy baby boy born." The NeoGenix Biosciences employee presented the findings from the first AI SpermSearch clinical study to the European Society of Human Reproduction and Embryology conference in Paris overnight. The system works by searching for the best sperm in semen samples taken from biopsies, offering embryologists another tool to select the most appropriate sperm to be used in IVF. Mr Gross said embryologists could often spend up to six hours looking for enough of the right tiny swimmers but the technology was shown to reduce search times by 75 per cent. "We found that our reducing the time to search, we were able to get through more samples, find more sperm and give these patients a better chance at having their own biological children," he said. The technology was given early access approval for research purposes at Sydney-based Virtus Health but Mr Goss hopes it could be approved for wider use across Australia by the end of the year. About 16 per cent of couples struggle with fertility, according to Family Planning NSW, while 1 in 18 babies in Australia are born through IVF each year. NSW couple Marcela and Rowan Moon experienced infertility until tests confirmed Mr Moon's semen had no sperm because of a genetic condition. "When they told us that Rowan was infertile I thought 'oh my God I can't have a child with Rowan being the father biologically' and then they said 'no, it's not like that, we can still do it'," Ms Moon said. Mr Moon had a biopsy as a day procedure and doctors took a sample, which was then used to create embryos. The first transfer was hailed a success and the couple later welcomed son Leo. "We were so lucky to get Leo first off the bat ... I don't think we really realised the rollercoaster that it was going to be," Mr Moon said.
