Melinta Therapeutics Announces $67M Series 4 Financing
Proceeds to Fund the Completion of Final Phase 3 Clinical Study for Delafloxacin and Drive Pipeline of Infectious Disease Therapies
NEW HAVEN, CT, June 10, 2015 (GLOBE NEWSWIRE) -- NEW HAVEN, CT – June 10, 2015 – Melinta Therapeutics, a privately held Phase 3 company developing novel antibiotics to treat bacterial infections, today 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 3 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 3 study of delafloxacin, an investigational fluoroquinolone, currently undergoing a confirmatory Phase 3 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."
About Melinta Therapeutics
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. Melinta is rapidly progressing its late-stage investigational antibiotic, delafloxacin, which is currently in Phase 3 development for acute bacterial skin and skin structure infections (ABSSSI). Delafloxacin has been designated a Qualified Infectious Disease Product (QIDP) for both ABSSSI and community-acquired bacterial pneumonia by the U.S. Food and Drug Administration. Melinta is committed to developing, through the application of Nobel Prize-winning science, a new class of antibiotics designed to overcome the multi- and extremely-drug-resistant pathogens for which there are few to no options, known collectively as ESKAPE pathogens, that cause the majority of life-threatening hospital infections.
Melinta Therapeutics is privately held and backed by Vatera Healthcare Partners among other private investors. The company is headquartered in New Haven, CT with offices in Lincolnshire, IL. Visit www.melinta.com for more information.
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. Through its operational involvement, Malin will work with the investee companies to enable them to reach the full potential of their value proposition and to achieve commercial success. For more information visit www.malinplc.com
Monique Allaire Lyons