Chimerix Reports Sale of TEMBEXA to Emergent BioSolutions for USD 337.5 Million plus Royalties
May 16, 2022 By MarketDepth
Chimerix has announced entry into a definitive agreement with Emergent BioSolutions Inc. to acquire exclusive rights to brincidofovir, including TEMBEXA, its medical countermeasure for smallpox approved by the United States Food and Drug Administration in June 2021. “Emergent is an ideal partner to maximize the long-term potential of TEMBEXA to ensure pandemic preparedness in the event of a smallpox recurrence,” said Mike Sherman, Chief Executive Officer of Chimerix. “This transaction significantly enhances Chimerix’s balance sheet and allows us to focus and invest in our development pipeline. We also continue to participate in the longer-term economics of TEMBEXA through US milestones and double-digit royalties from US and international revenues.”
Terms of the agreement with Emergent anticipate a TEMBEXA procurement contract with Biomedical Advanced Research and Development Authority.
USD 225 Million Cash
Chimerix will receive USD 225 Million upon close of the transaction plus up to USD 100 Million in up to four USD 25 Million milestone payments. Each milestone payment is contingent upon exercise of future BARDA procurement options of TEMBEXA following the base period.