Pharma BD Deal Intelligence
Jazz Pharmaceuticals acquired Chimerix for $8.55/share in cash, total equity value ~$935M, via a tender offer (expired April 17, 2025) followed by a merger that COMPLETED April 21, 2025, making Chimerix a wholly owned subsidiary. The deal's lead asset was dordaviprone, a first-in-class oral small molecule (ClpP agonist / DRD2 antagonist) for H3 K27M-mutant diffuse midline glioma, then under FDA Priority Review. The thesis delivered: on August 6, 2025 the FDA granted accelerated approval to dordaviprone as MODEYSO -- the first and only therapy for recurrent H3 K27M-mutant diffuse midline glioma (adult and pediatric >=1 yr, progressive disease after prior therapy), based on a pooled ORR of up to ~30% across five trials. The approval carried a Rare Pediatric Disease Priority Review Voucher (issued per Federal Register Aug 28, 2025), which Jazz sold for $200M (disclosed at JPM, January 2026) -- a material post-close value realization on top of the asset itself.