Chimerix, ContraVir Pharmaceuticals deal

Chimerix granted ContraVir exclusive, worldwide rights to develop and commercialize HBV and HIV candidate CMX157. Chimerix will receive 120,000 shares up front of ContraVir preferred stock, valued at $1.2 million, and will be eligible for $20 million in clinical, regulatory and initial sales milestones in the U.S. and Europe. The $20 million includes $2.5 million for the start of the first Phase III trial in HBV or HIV infection; $8 million for FDA approval; and $2 million for European approval. Chimerix is also eligible for royalties and additional commercial milestone payments. ...