In a move set to reshape the oncology market, Jazz Pharmaceuticals announced Wednesday its plans to acquire Chimerix in a $935 million all-cash deal. The acquisition, orchestrated by three powerhouse law firms, will further strengthen Jazz’s foothold in cancer treatment, particularly in the high-stakes battle against rare and aggressive brain tumors.
Big Premium, Bigger Potential
Jazz will launch an all-cash tender offer of $8.55 per share for Chimerix’s outstanding stock—a staggering 72% premium over Chimerix’s closing price on Tuesday. The deal signals Jazz’s aggressive push into high-value oncology assets, banking on Chimerix’s lead candidate, dordaviprone, a groundbreaking therapy for the deadly H3 K27M-mutant diffuse glioma.
With no current FDA-approved treatments for this rare pediatric and young adult brain cancer, dordaviprone has the potential to redefine the standard of care.
Legal Powerhouses Behind the Deal
Jazz has enlisted legal heavyweights from Wachtell, Lipton, Rosen & Katz to navigate the acquisition, while Chimerix is advised by Skadden, Arps, Slate, Meagher & Flom LLP and Cooley LLP. The involvement of these top-tier firms underscores the complexity and high stakes of the transaction.
