Follow the Money: Chimerix, Inc.

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Follow the Money highlights a newly funded bio/pharmaceutical company. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Chimerix, Inc. is a U.S. public pharmaceutical company that develops orally available antiviral medicines. As reported in the November 6, 2014 issue of the PharmSource Lead Sheet, Chimerix raised $121.7 million in the completion of a secondary public offering.

Corporate Highlights

  • Chimerix was incorporated in Delaware in April 2000.
  • Corporate Headquarters: Durham, North Carolina – approximately 14,500 square feet of office space.
  • Facility: Durham, North Carolina – 4,600 square feet of laboratory space.
  • As of December 31, 2013, Chimerix had 52 employees, 39 of which were engaged in R&D activities.

Sourcing Opportunities

  • Chimerix plans to use the proceeds from the offering to fund its R&D activities, including current and planned clinical trials with brincidofovir, and for general corporate purposes, including working capital.
  • The company relies on third parties to conduct, supervise, and monitor all clinical trials.
  • Chimerix does not own or operate facilities for manufacturing, storage and distribution, or testing and relies on third-party manufacturers to produce preclinical and clinical drug supplies.
  • The company intends to rely on third parties to produce commercial supplies of any approved product candidates.
  • Chimerix has no sales, marketing, or distribution capabilities.

Business Relationships

  • In July 2012, Chimerix granted Merck worldwide rights to CMX157, a nucleoside phosphonate being developed for the treatment of HIV infection. Chimerix received $17.5 million upfront and is eligible to receive a total of $151.0 million in milestones.1

Pipeline

Product Candidate Indication Dosage Form Status Next Anticipated Step
Lipid Technology and Chemical Library Cytomegalovirus/BK virus Oral Discovery TBA
Lipid Technology and Chemical Library Influenza Oral Discovery TBA
Lipid Technology and Chemical Library Norovirus Oral Discovery TBA
Lipid Technology and Chemical Library Other viruses Oral Discovery TBA
Brincidofovir (CMX001) Cytomegalovirus and other viruses in solid organ transplants Tablet Preclinical Phase III in planning
Brincidofovir (CMX001) Ebola Tablet Preclinical Exploratory protocol under development
Brincidofovir (CMX001) Adenovirus Tablet Phase I Pilot study ongoing; pivotal design under development
Brincidofovir (CMX001) Cytomegalovirus and other viruses in hematopoietic cell transplants Tablet Phase III Enrollment ongoing; data anticipated in H2 2015
Brincidofovir (CMX001) Smallpox Tablet Phase III TBA

 

Finances

(In $ thousands) 2013 2012
Revenues 4,370 33,720
R&D Expenditures 24,662 30,106
General & Administrative Expenditures 8,327 6,397
Total Operating Expenses 32,989 36,503
Capital Expenditures 193 126

1 Chimerix, Inc. Annual Report, SEC.gov

Contact Information

Chimerix, Inc. Key Officers
2505 Meridian Parkway, Suite 340 M. Michelle Berrey, MD, PhD, President & CEO, CMO
Durham, NC 27713, USA Timothy W. Trost, SVP, CFO
Phone: 919-806-1074 Garrett Nichols, MD, CMO
Fax: 919-806-1146 Herve Mommeja-Marin, MD, VP, Clinical Research
Web: www.chimerix.com Michael D. Rogers, PhD, Chief Development Officer

Ryan is a Senior Research Analyst at PharmSource. He holds a BS degree in biology, with a minor in chemistry and a BA degree in Spanish, from the University of North Carolina at Chapel Hill. Prior to joining PharmSource, Ryan worked as a Research Technician in the Neuroscience Center of the UNC Chapel Hill School of Medicine, and has been a named author on research publications.

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