Chimerix acquires Oncoceutics Inc.and with it ONC 201 currently in a registrational trial to treat H3 K27M-mutant glioma.

Chimerix, a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, announced that the Company has acquired Oncoceutics, Inc., a privately-held, clinical-stage biotechnology company developing imipridones, a novel class of compounds. Oncoceutics’ lead product candidate, ONC 201, has been shown in clinical testing to selectively induce cell death in multiple cancer types. ONC 201 is currently in a registrational clinical trial for recurrent H3 K27M-mutant glioma and a confirmatory response rate assessment is expected in 2021.Under the terms of the acquisition, Chimerix will pay Oncoceutics shareholders $78 million, of which $39 million is payable in Chimerix stock and $39 million is payable in cash, subject to certain customary adjustments. The payment of $39 million in cash is split $25 million at closing and $14 million on the first anniversary of closing.