With an experimental antiviral in mid-stage clinical trials, Research Triangle Park, NC-based Chimerix has raised $16.1 million from a Series E. Canaan Partners, Alta Partners, Sanderling Ventures and Asset Management Company participated in this insider round.
Much of that money is earmarked for further development of CMX001, a broad-spectrum antiviral in Phase II for cytomegalovirus (CMV) and BK virus. CMX001 is also being studied as a possible treatment for smallpox. And Chimerix is planning to push the anti-HIV therapy CMX157 into Phase I.
"These funds will enable us to drive forward clinical development of our promising drug candidates to a point where we are well-positioned to make strategic decisions about the best course for late-stage clinical development, as well as potential partnering with leading pharmaceutical companies," said Chimerix CEO George Painter, Ph.D.
- check out the Chimerix release [1]
Related Article:
Scientists ID compound that may work against adenovirus [2]
Links:
[1] http://www.fiercebiotech.com/press-releases/chimerix-raises-16-1-million-series-e-financing-0
[2] http://www.fiercebiotech.com/story/scientists-id-first-compound-may-work-against-adenovirus/2008-05-20