Chimerix Announces Exclusive Global License Agreement with SymBio Pharmaceuticals for Brincidofovir

Chimerix announces an exclusive global license agreement with SymBio Pharmaceuticals, Ltd (SymBio), under which SymBio has exclusively licensed the worldwide rights to develop, manufacture and commercialize brincidofovir in all human indications, excluding the prevention and treatment of smallpox. Moving forward, SymBio will be responsible for all future development and commercialization as well as manufacturing associated with brincidofovir in the licensed indications.

Under the terms of the agreement, Chimerix will receive an upfront payment of $5 million plus potential clinical, regulatory and commercial milestones of up to $180 million. In addition, Chimerix is eligible to receive double digit royalties on net sales of brincidofovir worldwide.

“This transaction marks an important corporate milestone for Chimerix, as we have transitioned our focus to the final stage of development of brincidofovir as a medical countermeasure for smallpox and to the Phase 3 development of dociparstat sodium (CX-01) in front-line therapy for acute myeloid leukemia (AML). AML remains an area of significant unmet need in which five-year survival rates are less than 30%,” said Mike Sherman, President and Chief Executive Officer of Chimerix. “The structure of this agreement with SymBio allows Chimerix shareholders to participate in the value of ongoing development of brincidofovir through potential future milestone payments and royalties.”

“Furthermore, SymBio’s success in transitioning to a commercial-stage biotechnology company, while simultaneously developing a pipeline of novel molecules in oncology and virology, illustrates the strength of their capability and capacity. SymBio is well positioned to explore worldwide development of brincidofovir beyond smallpox and we are excited by the promise of this partnership,” continued Mr. Sherman.

Locust Walk acted as exclusive transaction advisor and Cooley LLP acted as legal counsel to Chimerix.