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Chimerix to Address Congressional Subcommittee in Support of Reauthorization of the Pandemic and All-Hazards Preparedness Act (PAHPA)
DURHAM, N.C., June 05, 2018 (GLOBE NEWSWIRE) -- Chimerix (NASDAQ:CMRX), a biopharmaceutical company developing novel antivirals to address unmet medical needs, announced that President and Chief Executive Officer M. Michelle Berrey, MD, MPH will deliver remarks before the House Committee on Energy and Commerce Subcommittee on Health at the hearing titled “Examining the Reauthorization of the Pandemic and All-Hazards Preparedness Act” at 10 a.m. ET on Wednesday, June 6 in Washington, D.C.
The purpose of the hearing is to reauthorize certain programs under the Pandemic and All-Hazards Preparedness Act (PAHPA), which originally passed in 2006 and seeks to improve the United States’ public health and medical preparedness and response capabilities for emergencies, whether deliberate, accidental or natural. The draft reauthorization legislation would increase funding for the Biomedical Advanced Research and Development Authority (BARDA) and the Project BioShield Special Reserve Fund, a secure funding source for the purchase and stockpile of critical medical countermeasures such as vaccines, therapeutics and diagnostics.
“Unfortunately, the threat of a biological event impacting the United States has never been more real,” said Dr. Berrey. “Our private-public partnerships over the last 15 years, particularly with BARDA, have been critical to the survival and progression of our smallpox program with brincidofovir. We commend the Committee for bipartisan collaboration on the PAHPA reauthorization. Companies like ours rely on the existence of a government market for medical countermeasures to sustain the long-term investment of researching and developing these therapies, which provide a critical bulwark against biological threats.”
To view the hearing, a live webcast will be available at http://energycommerce.house.gov/.
Chimerix's lead product candidate, brincidofovir, is a nucleotide analog that has antiviral activity against all five families of DNA viruses that affect humans, including adenoviruses and variola virus, the virus that causes smallpox. Brincidofovir has a high barrier to resistance, no myelosuppression and a low risk of nephrotoxicity. Brincidofovir has received Fast Track designation from the FDA for adenovirus, CMV and smallpox. Brincidofovir has also received Orphan Medicinal Product Designation from the European Commission for the treatment of adenovirus, for the prevention of CMV disease, and for the treatment of smallpox.
Chimerix is a biopharmaceutical company dedicated to discovering, developing and commercializing medicines that improve outcomes for immunocompromised patients. Chimerix's proprietary lipid conjugate technology and compound library have produced brincidofovir (BCV, CMX001); CMX157, which was licensed to ContraVir Pharmaceuticals; and a new clinical candidate, CMX521, the first clinical stage direct-acting antiviral for the treatment and prevention of norovirus. For further information, please visit Chimerix's website, www.chimerix.com.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility that there may not be a viable continued development path for brincidofovir, that FDA and other regulatory authorities may not approve brincidofovir or brincidofovir-based regimens, and that marketing approvals, if granted, may have significant limitations on their use. As a result, brincidofovir may never be successfully commercialized. In addition, Chimerix may be unable to file for regulatory approval for brincidofovir with other regulatory authorities. These risks, uncertainties and other factors could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in the Company's filings with the Securities and Exchange Commission, including without limitation the Company's most recent Annual Report on Form 10-Q and other documents subsequently filed with or furnished to the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.