Melinta Therapeutics to Acquire Tetraphase Pharmaceuticals

 Melinta Therapeutics to Acquire Tetraphase Pharmaceuticals

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

Related News: AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

Related post