Chimerix to acquire Oncoceutics for $78m.

Chimerix, a biopharmaceutical company focused on accelerating the development of medicines to treat cancer and other serious diseases, agreed to acquire Oncoceutics, a privately-held, clinical-stage biotechnology company, for $78m. "Glioma remains one of the highest areas of unmet need in oncology where even first-line radiation therapy, as well as temozolomide in eligible patients, is not meaningfully effective and subsequent therapies are considered palliative. Further, there are no molecularly-targeted therapies for patients which harbor the H3 K27M mutation in this life-limiting disease. Given the urgent need and based on discussions with the FDA, there is a potential accelerated path to approval based on overall response. With a registration cohort of patients fully enrolled, treated, and preliminary data in hand, ONC201 offers an exciting near-term opportunity to quickly bring a potentially life-saving therapy and hope to patients with limited or no options," Mike Sherman, Chimerix CEO.