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.
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