Chimerix, Inc., a biopharmaceutical company based in Durham, North Carolina, entered into a License and Development Agreement with Cantex Pharmaceuticals pursuant to which Chimerix acquired exclusive worldwide rights to develop and commercialize a drug candidate known as CX-01, which targets multiple proteins involved in cancer cell resistance to chemotherapy. Chimerix intends to initiate, in mid-2020, a Phase 3 registrational trial of CX-01 for the treatment of acute myeloid leukemia in the first-line setting. In consideration for the license rights, Cantex received an upfront cash payment of $30 million plus 10 million shares of Chimerix common stock and is eligible to receive milestone payments of up to $587.5 million plus tiered royalties based on Chimerix’s future sales of CX-01.
Our firm represented Chimerix in the deal.
