Jazz Pharmaceuticals plc (JAZZ) entered a merger agreement on March 5, 2025, to acquire Chimerix, Inc. (CMRX) through an all-cash tender offer valued at $935 million, expanding its presence in the rare oncology space.
Under this agreement, Jazz will commence an all-cash tender offer to acquire all outstanding shares of Chimerix’s common stock, whereby Chimerix shareholders will be offered $8.55 per share in cash, representing a premium of 72.38% from the stock’s last close.
Chimerix is a biopharmaceutical company focused on developing innovative treatments for life-threatening diseases, including oncology and antiviral therapies. Its lead program, dordaviprone, is in development for H3 K27M-mutant glioma, and it is also advancing multiple clinical-stage assets targeting solid tumors and hematological malignancies.
Jazz Pharmaceuticals is a global biopharmaceutical company focused on developing and commercializing innovative treatments in neuroscience and oncology, including therapies for sleep disorders, epilepsy, and cancer. Headquartered in Dublin, Ireland, Jazz is committed to addressing unmet medical needs worldwide.
Chimerix’s lead drug, dordaviprone, is being developed to treat a rare and aggressive brain tumor mainly affecting children and young adults. There are no FDA-approved treatments for this mutation, with radiation being the standard care. The FDA has accepted dordaviprone for Priority Review in recurrent cases, with a decision expected by August 18, 2025. If approved, it may qualify for a Rare Pediatric Disease Priority Review Voucher. A Phase 3 trial is also testing dordaviprone in newly diagnosed patients after radiation, potentially expanding its use as a first-line treatment.
“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,” said Bruce Cozadd, CEO of Jazz Pharmaceuticals.
Jazz plans to finance the transaction, expected to close in the second quarter of 2025, using existing cash and investments.
Centerview Partners and Skadden, Arps, Slate, Meagher & Flom, and Cooley advised Chimerix on financial and legal matters, respectively. Jazz received financial advice from Guggenheim Securities and legal counsel from Wachtell, Lipton, Rosen & Katz.
For more information on this merger, including a detailed analysis of the deal metrics, please refer to the following link:
Deal Metrics for the acquisition of Chimerix, Inc. (CMRX) by Jazz Pharmaceuticals plc (JAZZ)
The Deal Metrics page for each merger or acquisition includes:
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Editor’s Note: Baranjot Kaur contributed to this article