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Emergent BioSolutions To Acquire TEMBEXA Rights From Chimerix For Up To $337.5 Mln + Royalties

Emergent BioSolutions Inc. (EBS) announced Monday that it has agreed to acquire Chimerix, Inc.'s (CMRX) exclusive worldwide rights to TEMBEXA (brincidofovir) for up to $337.5 million plus royalties.

This includes 225 million one-time upfront payment in cash upon closing and up to a total of $100 million in milestone payments contingent on the potential exercise by the U.S. government of procurement options following the base period.

Chimerix is also eligible to receive up to $12.5 million in regulatory milestones associated with the SymBio Pharmaceuticals Ltd. brincidofovir partnership to be assumed by Emergent.

Chimerix may also earn a 20% royalty on future gross profit of TEMBEXA sales in the U.S. and 15% outside of the U.S. during the exclusivity period of TEMBEXA.

TEMBEXA is the first antiviral approved by the U.S. Food and Drug Administration (FDA) for all age groups for the treatment of smallpox. It was approved in June 2021 and is indicated for the treatment of human smallpox disease in adult and pediatric patients, including neonates.

Emergent anticipates that the transaction will be funded using currently available funds.

This transaction is subject to customary closing conditions. Subject to the satisfaction or waiver of the closing conditions, the companies expect the transaction to close as early as the end of the second quarter of 2022.

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