Melinta Therapeutics Announces Financing to Fund Completion of Final Phase III Study
Melinta Therapeutics recently announced the successful completion of a $67-million Series 4 equity financing. Malin Corporation plc led the round and was joined by other existing investors, including Vatera Healthcare Partners.
“Melinta has developed a novel multi-product portfolio, including the advancement of delafloxacin through its first Phase III ABSSSI trial, presenting the type of compelling investment that our firm seeks to be a part of,” said Sean Murphy, Malin Corporation plc Board Director and appointee to the Melinta Board. “With a proven management team that has outstanding experience commercializing anti-infective therapies for underserved patient populations, Melinta is poised for success.”
Proceeds from the financing will be used to complete the final Phase III study of delafloxacin, an investigational fluoroquinolone, currently undergoing a confirmatory Phase III study for the treatment of patients with acute bacterial skin and skin structure infections (ABSSSI). Funds will also support the potential submission of a New Drug Application (NDA) for delafloxacin for the lead indication, pursuing new indications for delafloxacin including hospital-treated community-acquired bacterial pneumonia (hCABP), and advancing a lead candidate for the company’s ESKAPE pathogen program.
“We appreciate the support of our new and existing investors as we continue to build a deep, differentiated pipeline while rapidly moving delafloxacin through the clinic,” said Mary Szela, Chief Executive Officer of Melinta Therapeutics. “The proceeds from this financing are expected to fund our operations through a number of key milestones, including our first NDA submission with delafloxacin, which we believe holds significant potential to be a therapeutic option for treatment of patients with ABSSSI, including patients with MRSA infections. With its availability in IV and oral formulations, delafloxacin should provide the flexibility that enables patients to continue on the same therapy after discharge from the hospital.”
Melinta Therapeutics, Inc. is dedicated to saving lives threatened by the global public health crisis of bacterial infections through the development of novel antibiotics that provide new and better therapeutic solutions. For more information, visit www.melinta.com.
Malin is an Irish incorporated public limited company. Its purpose is to create shareholder value through the selective long-term application of capital and operational expertise to private, pre-IPO, pre-trade sale operating businesses in dynamic and fast growing segments of the life sciences industry. For more information, visit www.malinplc.com.
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