Chimerix Announces Closing of TEMBEXA Sale to Emergent BioSolutions
“The closing of our sale of TEMBEXA to Emergent allows
- Potential milestone payments of up to
$124 million(up to $31 millionfor each of the remaining BARDA procurement options, due within 30 days of exercise);
- 15% royalty on gross profit from sales of TEMBEXA outside the
- 20% royalty on gross profit from sales of TEMBEXA in the
U.S.that are in excess of 1.7 million treatment courses; and
- Up to an additional
$12.5 millionupon achievement of certain developmental milestones.
Development and procurement of TEMBEXA have been supported in part with federal funds from BARDA, in the Administration for Strategic Preparedness and Response in the
TEMBEXA (brincidofovir) is a nucleotide analog lipid-conjugate designed to mimic a natural monoacyl phospholipid to achieve effective intracellular concentrations of the active antiviral metabolite, cidofovir diphosphate. Cidofovir diphosphate exerts its orthopoxvirus antiviral effects by acting as an alternate substrate inhibitor for viral DNA synthesis mediated by viral DNA polymerase.
Chimerix is a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The Company’s most advanced clinical-stage development program, ONC201, is in development for H3 K27M-mutant glioma.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include those relating to, among other things, procurements under the BARDA contract and potential future payments in connection with the transaction. Among the factors and risks that could cause actual results to differ materially from those indicated in the forward-looking statements are risks that the initial delivery or any subsequent deliveries of TEMBEXA will not occur as planned, or at all; risks that future payments in connection with the transaction will not be made; risks related to the timing and completion of the Phase 3 Study of ONC201, and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.
Stern Investor Relations
Source: Chimerix, Inc.