Melinta Buys Infectious Disease Unit from The Medicines Company

Through a new agreement, Melinta Therapeutics has acquired the infectious disease business from The Medicines Company.  The deal includes the sale of global rights and all business supporting Vabomere, Orbactiv, and Minocin IV. 

Recently launched and FDA approved Vabomere is a novel fixed-dose combination agent comprising of vaborbactam, a beta-lactamase inhibitor, and meropenem. Orbactiv is an injectable product approved by the FDA and EMA for the treatment of adults with acute bacterial skin and skin structure infections.  Minocin IV is an injectable tetracycline derivative approved in the U.S. for the treatment of infections due to susceptible strains of several important designated gram-positive and gram-negative pathogens.

"The assets we are purchasing are an ideal complement to our existing business, allowing us to focus on multiple valuable segments of the anti-infectives market simultaneously," said Dan Wechsler, Melinta’s president and chief executive officer.  

Under the terms of the acquisition, the purchase price consists of a payment to The Medicines Company of $165 million in cash, about $55 million worth of Melinta stock,  and a payment of $25 million on the one year and year-and-a-half anniversaries of the closing date.  Melinta will also pay certain royalty payments, based on tiered net sales of the acquired products in certain jurisdictions.  

The acquisition was unanimously approved by Melinta’s board of directors and is expected to close in the first quarter of 2018.