Chimerix raises $11m to advance Smallpox

Published: 5-Nov-2004

Emerging US biotechnology company, Chimerix has received an $11m private placement of its Series C preferred stock.


Emerging US biotechnology company, Chimerix has received an $11m private placement of its Series C preferred stock.

Frazier Healthcare Ventures, a new investor, led the round, and Dr Robert Overell, a general partner with Frazier Healthcare Ventures, will join Chimerix's board of directors. Additional funding for the round came from founding investors Sanderling Ventures and Asset Management Company.

'This financing provides resources for the company to advance our current therapeutic programmes and to broaden the application of our proprietary technology to new commercially attractive therapeutic indications,' said Dr George Painter, president and CEO of Chimerix. 'The funds will allow Chimerix to acquire additional developmental resources as we advance CMX001, our lead antiviral agent for treatment of smallpox infection, toward clinical trials.'

The financing will augment a $36.1m grant from the National Institutes of Health awarded to Chimerix for the development of CMX001 for the prophylaxis and treatment of smallpox infection and will allow Chimerix to accelerate development programs for treating cytomegalovirus infection, multi-drug resistant HIV-1 infection, viral hepatitis and other discovery-stage preclinical programs.

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