ContraVir Pharmaceuticals,Inc. (NASDAQ:CTRV) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.
On April2, 2019, ContraVir Pharmaceuticals,Inc. (“ContraVir” or the “Company”) delivered a notification to Chimerix,Inc. Inc. (“Chimerix”) of its intention to terminate the License Agreement by and between the Company and Chimerix, dated December17, 2014 (the “License Agreement”). The termination of the License Agreement will be effective on June1, 2019.
to the License Agreement, Chimerix granted ContraVir rights for the development and commercialization of CMX157. Upon the effectiveness of the termination of the License Agreement, Chimerix will reacquire all worldwide rights to CMX157. ContraVir made the decision to terminate the License Agreement following its decision to no longer pursue development of CMX157, and to focus its resources and development programs on further advancing its CRV431 product candidate.
About ContraVir Pharmaceuticals,Inc. (NASDAQ:CTRV)
ContraVir Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the development of antiviral drugs for the treatment of Hepatitis B virus (HBV) infections. The Company develops a range of compounds to treat HBV infection, which include CMX157 and CRV431. The Company is also developing an antiviral asset, FV-100. The Company’s CMX157 is a lipid acyclic nucleoside phosphonate that delivers intracellular concentrations of the active antiviral agent tenofovir diphosphate. The Company has completed a Phase I clinical trial of CMX157. The Company’s CRV431 drug candidate is designed to target cyclophilins, which are a class of proteins. CRV431 inhibits the role of host cyclophilins and interferes in the propagation of the viruses. The Company’s FV-100 is an orally available, small molecule, nucleoside analogue pro-drug of CF-1743, which is used for the treatment of herpes zoster. It has developed FV-100 for the treatment of shingles.
