Chimerix funds antiviral drug work with $45M round

With two antiviral drug candidates in the clinic, Durham, NC-based Chimerix has raised $45 million in a Series F round of financing. New Leaf Venture Partners led the round. The firm was joined by new investors Pappas Ventures and Morningside Group and existing contributors Canaan Partners, Sanderling Ventures, Alta Partners, Asset Management Company and Frazier Healthcare Ventures.

Chimerix will draw on that funding to continue development of lead candidate CMX001, a broad spectrum antiviral for the treatment of viral infections in patients with weak immune systems. The drug may also be used as a medical countermeasure for smallpox. The Phase II trial is focused on stem cell transplant patients with cytomegalovirus, and in an open-label study for critically-ill patients with any of 12 different double-stranded DNA viral infections, the company said in a release. In addition, Chimerix plans to begin another Phase II trial of the compound for pediatric and adult hematopoietic stem cell transplant patients with adenovirus related diseases. Its second drug, CMX157, has passed a Phase I trial for the treatment of HIV infections.

"Development of our two clinical-stage antiviral therapeutics is rapidly accelerating. We are truly pleased to receive this strong support from leading life science investors for Chimerix's ground-breaking programs," said CEO Kenneth Moch. "We are extremely enthusiastic about the very real prospects for Chimerix's drugs to dramatically improve the treatment of deadly viral infections."

ALSO: Led by AgeChem Venture Fund, Conatus Pharmaceuticals closed a $20 million Series B private placement financing. The company is using the money to fund clinical development of CTS-1027, a Phase II hepatitis C drug Conatus licensed from F. Hoffman-La Roch. Conatus release