M&A Deal Summary

Chimerix Acquires Oncoceutics

On January 8, 2021, Chimerix acquired life science company Oncoceutics from Spring Mountain Capital for 78M USD

Acquisition Highlights
  • This is Chimerix’s 1st transaction in the Life Science sector.
  • This is Chimerix’s largest (disclosed) transaction.
  • This is Chimerix’s 1st transaction in the United States.
  • This is Chimerix’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2021-01-08
Target Oncoceutics
Sector Life Science
Buyer(s) Chimerix
Sellers(s) Spring Mountain Capital
Deal Type Add-on Acquisition
Deal Value 78M USD
Advisor(s) Evercore Group (Financial)
Morgan Lewis (Legal)

Target

Oncoceutics

Philadelphia, Pennsylvania, United States
Oncoceutics, Inc. is a clinical-stage biotechnology company developing imipridones, a novel class of compounds. Oncoceutics’ lead product candidate, ONC201, has been shown in clinical testing to selectively induce cell death in multiple cancer types. ONC201 is currently in a registrational clinical trial for recurrent H3 K27M-mutant glioma and a confirmatory response rate assessment is expected in 2021. Oncoceutics, Inc. was founded in 2009 and is based in Philadelphia, Pennsylvania.

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Buyer(S) 1

Buyer

Chimerix

Durham, North Carolina, United States
Category Company
Founded 2000
Sector Life Science
Employees72
Revenue 34M USD (2022)
DESCRIPTION

Chimerix is a drug development company that owns proprietary lipid prodrug technology to improve the efficacy of antiviral drugs. The Company’s lead compound, CMX001, is an active agent against a number of DNA viruses including smallpox and papilloma. Chimerix is also developing programs in CMV and HIV and is pursuing commercial opportunities to broaden the use of its technology. Chimerix was founded in 2000 and is based in Durham, North Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Spring Mountain Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Agnostic
DESCRIPTION

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $10 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.

DEAL STATS #
Overall 13 of 20
Sector (Life Science) 2 of 2
Type (Add-on Acquisition) 11 of 18
State (Pennsylvania) 1 of 1
Country (United States) 13 of 20
Year (2021) 1 of 6
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 AtlasXomics

New Haven, Connecticut, United States

AtlasXomics is a commercializing novel discovery platform that provides clinicians and researchers with unprecedented multi-omics tissue atlases. AtlasXomics is based in New Haven, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-16 Genomenon

Ann Arbor, Michigan, United States

Genomenon is an AI-driven genomics company that organizes the world’s genomic knowledge to connect patient DNA to scientific research in the diagnosis and development of treatments for patients with rare genetic diseases and cancer. Genomenon was founded in 2014 and is based in Ann Arbor, Michigan.

Buy -
Mergr

Product

Company

Legal