On September 30, 2019, we entered into a license agreement with SymBio Pharmaceuticals Limited (“SymBio”) to which we have granted SymBio exclusive worldwide rights to develop, manufacture and commercialize brincidofovir in all human indications, excluding the prevention and treatment of smallpox. Under the terms of the license agreement, SymBio will be responsible for, and bear the future costs of, worldwide development and commercialization of brincidofovir in the licensed indications.

In consideration for the license rights, on or before October 22, 2019, we will receive an upfront cash payment of $5.0 million. In addition, we are eligible to receive up to $180.0 million in clinical, regulatory and commercial milestones worldwide. We are also entitled to receive low double-digit royalties on worldwide net sales of brincidofovir. Either party may terminate the license agreement upon the occurrence of a material breach by the other party (subject to standard cure periods), or upon certain events involving the bankruptcy or insolvency of the other party. SymBio may also terminate the license agreement without cause on a country-by-country basis upon ninety days’ prior written notice.

About Chimerix, Inc. (NASDAQ:CMRX)

Chimerix, Inc. (Chimerix) is a biopharmaceutical company. The Company is focused on discovering, developing and commercializing oral antivirals. The Company, based on its lipid conjugate technology, has developed its lead compound, brincidofovir (BCV, CMX001), which is in Phase III clinical development. In addition, the Company has an active discovery program focusing on viral targets for which limited or no therapies are available. Brincidofovir is an investigational oral nucleotide analog that has shown spectrum antiviral activity against over five families of double-stranded deoxyribonucleic acid (dsDNA) viruses that affect humans. CMX157, is its second clinical-stage nucleotide analog, uses the same lipid technology as brincidofovir to deliver high intracellular concentrations of the potent antiviral drug, tenofovir. Tenofovir is marketed under the brand name Viread. The Company has discovered, developed and selected a clinical candidate, CMX669, for BK virus and cytomegalovirus.