Jazz Pharmaceuticals to Acquire Chimerix, Enhancing Oncology Portfolio

Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Dublin, Ireland, dedicated to developing life-changing medicines for people with serious diseases—often with limited or no therapeutic options. The company's diverse portfolio spans neuroscience and oncology, with a focus on addressing unmet medical needs through innovative therapies.

The company has announced a definitive agreement to acquire Chimerix, a Durham-based biotech company, for approximately $935 million in cash. This acquisition aims to bolster Jazz's oncology research and development pipeline by adding Chimerix's lead drug candidate, dordaviprone, a novel therapy for treating H3 K27M-mutant diffuse glioma—a rare and aggressive brain tumor affecting children and young adults.

The addition of dordaviprone aligns with Jazz's commitment to addressing significant unmet medical needs within oncology. Currently, there are no FDA-approved treatments for H3 K27M-mutant diffuse glioma, underscoring the urgency for effective therapeutic options. Bruce Cozadd, Chairman and CEO of Jazz Pharmaceuticals, stated, "Adding dordaviprone to our oncology R&D pipeline will further diversify our portfolio with a medicine that addresses a significant unmet need with no other FDA-approved therapies and limited treatment options for this patient population."

Under the terms of the agreement, Jazz will acquire all outstanding shares of Chimerix for $8.55 per share in cash, representing a 72.4% premium over Chimerix's last closing share price. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions. Jazz plans to fund the acquisition through existing cash and investments.

Dordaviprone is currently under review by the U.S. Food and Drug Administration (FDA) for the treatment of H3 K27M-mutant diffuse glioma. The FDA has set a target action date of August 18, 2025, for the accelerated approval decision. If approved, dordaviprone has the potential to become a standard of care for this patient population and contribute to Jazz's revenue streams in the near term.