DURHAM — Chimerix Inc. reported Thursday that another company has indicated its intention to terminate a licensing agreement for a drug owned by Chimerix.
ContraVir Pharmaceuticals Inc., a pharmaceutical company headquartered in New Jersey, decided to terminate the license agreement between ContraVir and Chimerix dated Dec. 17, 2014. The termination of the agreement will be effective on June 1.
ContraVir made the decision to terminate the agreement following its decision to no longer pursue development of CMX157, a novel lipid acyclic nucleoside phosphonate used for certain antiviral indications.
Chimerix had granted ContraVir rights for the development and commercialization of CMX157. Upon the termination of the agreement, Chimerix will reacquire all worldwide rights to CMX157.
Chimerix develops and markets medications for patients with impaired or weak immune systems. Specializing in anti-viral drugs, it hopes to provide patients with medications that reduce their risk of contracting infections.
The SEC filing can be found here.
The company’s shares were trading Thursday at $2.10, down 1 cents, or 0.47 percent.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
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