Shots:

• Melilnta to acquire Tetraphase for $39M in cash along with $16M in cash under CVRs upon the achievement of net sales of XERAVA in the US of at least $20M in 2021- (ii) $35M & $55M during any year ending on or before December 31- 2024.  The upfront cash includes $1.79/ share of Tetraphase common stock- $2.47/share of Tetraphase common stock underlying the common stock warrants issued by the company in 2019 & 2020
• The transaction is expected to be closed in Q3’20. Xerava (eravacycline for injection) is a novel fluorocycline of the tetracycline- indicated to treat cIAI in patients aged≥ 18yrs.
• The acquisition follows the termination of the merger agreement with AcelRx Pharmaceuticals- signed on Mar 16- 2020- as amended on May 27 & 29- 2020- in order to enter into the definitive merger agreement with Melinta. AcelRx receives termination fees of $1-778-000

Click here to read full press release/ article | Ref: Businesswire | Image: Tetraphase

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