Chimerix Announces Promotion of Michael T. Andriole to President and Chief Executive Officer

Mike Sherman to Transition to Chair of the Board of Directors

Martha Demski to Assume Role of Lead Independent Director

DURHAM, N.C., June 27, 2023 (GLOBE NEWSWIRE) -- Chimerix, Inc. (NASDAQ:CMRX), a biopharmaceutical company whose mission it is to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases, today announced the promotion of Mike Andriole, Chief Business Officer and Chief Financial Officer, to President and Chief Executive Officer of Chimerix and his appointment to the Board of Directors. Mr. Andriole replaces Mike Sherman, who is retiring from his role as Chief Executive Officer and will become Chairman of the Board of Directors. Martha Demski, the current Board Chair, will assume the role of Lead Independent Director. These appointments will be effective on August 1, 2023.

“The Board has been thoughtful in planning this succession, ensuring ongoing strong leadership with the continuity of an accomplished management team,” said Martha Demski, Board Chair of Chimerix. “As part of that process, Mike Andriole has been involved in nearly every aspect of the business beyond his formal responsibilities and we look forward to his continued strong leadership as we begin preparing the organization for potential commercialization of ONC201. We also thank Mike Sherman for his vision and leadership in guiding Chimerix through its transformation into an oncology-focused company, one that is fulfilling its mission to bring new therapies to patients suffering from deadly disease.”

“I have worked closely with Mike Sherman for six years to bring new medicines to patients facing a potential life-threatening illness. During our time at Chimerix and our prior company, we have led teams resulting in two product approvals that have meaningfully advanced the standard of care in their respective indications,” said Mr. Andriole. “Mike’s planned retirement follows a pivotal transition period at Chimerix in which we evolved the Company into an oncology focused organization with a proven management team. Importantly, we have secured a strong balance sheet and are executing the Phase 3 ACTION trial for ONC201 as a treatment for H3 K27M-mutant glioma. In addition, we are accelerating the development of ONC206, which has shown early signals of activity that may expand the reach of our imipridone platform to a much broader patient population. I look forward to continuing to lead Chimerix as we work to make these treatments available to patients as quickly as possible with a particular focus on the organization’s launch readiness for ONC201.”