Situation Assessment

• Chimerix (NASDAQ: CMRX) is a clinical stage biopharmaceutical company focusing on the development of its lead asset, brincidofovir​
• In 2018 Chimerix was interested in securing a Japanese partner for Brincidofovir and engaged Locust Walk to lead the partnering efforts for Japan​
• May 2019 Chimerix took a strategic shift and terminated all clinical programs except for the indication of smallpox in the US/EU​
• As a result, what started as a regional deal transitioned into a global deal​
• In September 2019, Chimerix and Locust Walk successfully consummated a global licensing agreement between Chimerix and SymBio for the development and commercialization of Brincidofovir

Key Activities

• Locust Walk, with its deep connectivity and experience in the industry, generated robust interest in Brincidofovir with a dozen of Japanese companies focused on hematology, oncology, infections and/or rare diseases​
• Our outreach, based on effective marketing materials, resulted in a competitive partnering process with several companies submitting a term sheet or an indication of interest for the opportunity within a few months​
• Locust Walk continued to manage the discussions with the potential partners even during the strategic shift by Chimerix and maintained momentum of the deal and relationship, especially with SymBio ​
• Locust Walk regularly held talks with top executives at SymBio to let them understand key issues, and supported Chimerix in negotiations and in timely face to face meetings

Successful Outcome

• Chimerix engaged Locust Walk in Q2 2018 to drive the Brincidofovir licensing process. Our combined efforts led to Chimerix and SymBio consummating an agreement for the development and commercialization of Brincidofovir, excluding for smallpox, globally executed on September 30, 2019​
• Locust Walk helped the parties reach agreement quickly as the formal definitive agreement was finalized in ten weeks after reaching agreement on a term sheet​
• This partnership agreement with SymBio includes up to $180M in total milestones and double digit royalties on sales with an upfront payment of $5M