As peHUB.com reported late last week, Chimerix Inc., the pharmaceutical drug company working on orally-available antiviral therapeutics has completed a $45 million fundraising. New investors include Pappas Ventures and Morningside Group; other investors include Sanderling Ventures, Canaan Partners, Alta Partners, Asset Management Co., Frazier Healthcare Ventures and New Leaf Venture Partners.
DURHAM, NC, February 14, 2011 – Chimerix, Inc., a pharmaceutical company developing orally-available broad spectrum antiviral therapeutics, today announced the completion of a $45 million Series F financing. New Leaf Venture Partners led the round, with participation by new investors Pappas Ventures and Morningside Group, as well as existing investors Canaan Partners, Sanderling Ventures, Alta Partners, Asset Management Company and Frazier Healthcare Ventures.
Proceeds from this financing will be used to support the development of Chimerix’s two clinical-stage candidates, CMX001 and CMX157. CMX001 is in clinical development as a broad spectrum antiviral for the treatment of life-threatening viral infections in immunocompromised patients, and has a potential dual use as a medical countermeasure in the event of a smallpox release. Chimerix is evaluating CMX001 in an ongoing Phase 2 clinical study of cytomegalovirus (CMV) in hematopoietic stem cell transplant patients, and in an Open-Label Study under an expanded access protocol for the treatment of critically-ill patients with any of 12 different double-stranded DNA viral infections. A Phase 2 clinical trial of CMX001 in pediatric and adult hematopoietic stem cell transplant patients with adenovirus related diseases is currently being initiated. Chimerix recently completed a Phase 1 clinical trial of CMX157, a potent nucleoside analogue in development for the treatment of HIV infections, including those caused by multi-drug resistant viruses.
“Development of our two clinical-stage antiviral therapeutics is rapidly accelerating. We are truly pleased to receive this strong support from leading life science investors for Chimerix’s ground-breaking programs,” said Kenneth I. Moch, President and CEO of Chimerix. “We are extremely enthusiastic about the very real prospects for Chimerix’s drugs to dramatically improve the treatment of deadly viral infections.”
In conjunction with this financing, James Niedel, M.D., Ph.D., Managing Director of New Leaf Venture Partners, and Arthur M. Pappas, Managing Partner of Pappas Ventures, will join Chimerix’s Board of Directors. Graham Crooke, M.D., of Helix Ventures will retire from the Chimerix Board. The total number of Chimerix Board members is eight.
“It’s rare to find drugs in development with excellent safety and efficacy to treat life-threatening infections in children and adults. It’s equally rare to find a management team with the experience, accomplishments and expertise necessary to progress those drugs through FDA approval and into clinical practice. In Chimerix, we found both. I am pleased to join a fine group of investors and board directors in support of those efforts,” said Dr. Niedel.
“We are pleased to support Chimerix’s important product development programs,” said Mr. Pappas. “We look forward in particular to meaningful clinical results from CMX001 during 2011 and 2012.”
“Chimerix has established a cutting-edge portfolio of novel antiviral medicines with the potential to transform the treatment of certain viruses and address critically-ill patients for whom there would otherwise be little or no hope. We are delighted that such an outstanding group of new investors has joined us in supporting Chimerix in the development of these compounds,” said Seth Rudnick, M.D, Venture Partner, Canaan Partners, on behalf of the Chimerix Board.
Chimerix is developing novel antiviral therapeutics with the potential to transform patient care in multiple settings, including transplant, oncology, acute care and global health.
The company’s lead candidate, CMX001, is being developed as a potential broad spectrum antiviral agent for the treatment of life-threatening double-stranded DNA (dsDNA) viral diseases. Over 350 people have received CMX001 to date, with a growing body of evidence supporting the drug’s antiviral activity in humans.
Clinical studies of CMX001 include an ongoing Phase 2 study of the prevention/control of cytomegalovirus (CMV) in hematopoietic stem cell transplant patients (CMX001-201), a Phase 2 study being initiated for the treatment of adenovirus (AdV) infection in pediatric and adult hematopoietic stem cell transplant patients (CMX001-202), and an Open-Label Study (CMX001-350) for the treatment of any of 12 different dsDNA viral infections, including AdV, herpes viruses such as CMV, herpes simplex virus and Epstein Barr virus, polyoma viruses such as BK virus and JC virus, and pox viruses. The Open-Label Study builds on Chimerix’s extensive experience working with clinicians at over 55 leading institutions in the United States, Canada, Europe and Israel who have sought CMX001 for the treatment of more than 150 immunocompromised patients under Emergency INDs. CMX001 has been well tolerated in all studies.
CMX001 is also being developed as a medical countermeasure in the event of a smallpox release. Chimerix has received significant federal funding for the development of CMX001 as a medical countermeasure against smallpox from the National Institute of Allergy and Infectious Diseases.
Chimerix’s second clinical-stage antiviral compound, CMX157, a potent nucleoside analogue with in vitro activity against HIV and hepatitis B, has the potential to directly address several limitations of current HIV therapies. Chimerix is developing CMX157 for the treatment of HIV infection including those caused by multi-drug resistant viruses. A Phase 1 clinical study has been completed demonstrating that the compound is well tolerated and that the active antiviral, TFV-PP, was measurable in peripheral blood mononuclear cells (PBMCs) after a single dose and remained detectable for six days, indicating that it may be suitable for once-weekly dosing.
Led by a world-class antiviral drug development team, Chimerix is also leveraging the company’s extensive chemical library to pursue new treatments for hepatitis C virus, flu, malaria and other global public health needs. For additional information on Chimerix, please visit http://www.chimerix.com.
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