In the 10 months since Mary Szela took charge of Melinta Therapeutics--the antibiotics developer once known as Rib-X--the CEO has built up an experienced team of R&D executives. Now she also has the money needed to wrap an ambitious late-stage program for their lead product while preparing to usher a new set of assets into the clinic.
The New Haven, CT-based biotech Rib-X is undergoing a makeover. The biotech has a new name and is now being run by a new management team drawn in by a new lead investor. But it's still focused on the same lead antibiotic: delafloxacin.
2011 Fierce 15 winner Rib-X will end the year with a substantial cache of cash in the bank. The biotech says it landed the first tranche of a $67.5 million venture round, with the second tranche expected to wrap before the end of 2012.
Stemline Therapeutics delayed its initial public offering this week, as another biotech faces a rocky road from private to public status. The oncology drug specialist planned to raise $42 million in an IPO this week at a price of $11 to $13 per share, the Nasdaq reported Tuesday, selling itself as a leader in the development of drugs that home in on cancer stem cells that are implicated in cancer recurrence.
Seeking Alpha reasoned this week that Cancer Genetics' IPO might be small enough to slip through even though Wall Street has been bracing for the blockbuster maiden offering of Facebook. Guess not.
Before postponing the IPO, Rib-X was aiming to raise $65 million in the offering.
Arrowhead Research has bought Alvos Therapeutics and the small company's peptides that home in on tumor targets.
Shares of Trius Therapeutics ($TSRX) surged on the news that its late-stage antibiotic tedizolid closely matched Zyvox (linezolid) in one of a series of pivotal studies, helping nail down support for
Rib-X Pharmaceuticals, which is mounting an $80 million IPO effort, is touting positive midstage data from the Phase IIb study of its antibiotic delafloxacin. "Delafloxacin met or exceeded primary
Antibiotics developer Rib-X Pharmaceuticals wants to go public after burning through more than $238 million since 2000. The New Haven, CT-based company hasn't said how many shares it plans to sell in