— Expands portfolio to four marketed antibiotics,
with peak sales potential over $1 billion —— Creates premier
commercial stage global antibiotic franchise with the addition of
Vabomere™(meropenem and vaborbactam), Orbactiv®
(oritavancin), and Minocin® (minocycline) for Injection
—— Melinta’s FDA approved drug Baxdela® (delafloxacin) to
launch in Q1 2018 —— Creates world’s largest pure-play
antibiotics company —
Melinta Therapeutics, Inc. (NASDAQ:MLNT), a commercial-stage
company developing and commercializing novel antibiotics to treat
serious bacterial infections, today announced the successful
completion of its previously announced acquisition of The Medicines
Company’s (NASDAQ:MDCO) infectious disease business.
“The completion of this acquisition marks yet another milestone
in what has been a very exciting time for Melinta as we focus on
creating the leading pure-play antibiotics company,” said Dan
Wechsler, President and CEO of Melinta. “The combination of our two
companies gives us a world-class infectious disease portfolio led
by renowned experts in antibiotics discovery, development, and
commercialization. We are eager to build upon our synergies and
leverage our collective expertise and scale to offer patients and
providers battling serious bacterial infections with additional
life-saving treatment options.”
Expanded Portfolio and Pipeline
The close of the acquisition solidifies Melinta’s position as
the world’s largest pure-play antibiotics company, and expands upon
the company’s existing product Baxdela® (delafloxacin) by adding
three additional marketed products to its portfolio: Vabomere™
(meropenem and vaborbactam), Orbactiv® (oritavancin), and Minocin®
(minocycline) for Injection.
Melinta’s existing portfolio of approved medicines has peak
combined sales potential of more than $1 billion. As the new
Melinta moves into its next stage of growth, the company will focus
on seamless continuity of additional clinical studies designed to
enhance and expand the potential for its four marketed
products.
Strong Combined Commercial Capabilities
The close of the acquisition will also allow the company to
deploy its expanded sales force cross-portfolio to increase
efficiencies and drive incremental value, and deepen its global
relationships with both new and existing partners.
Melinta also announced that The Medicine Company’s Mike McGuire
has joined the new organization’s leadership team as Senior Vice
President, Commercial. He replaces Melinta Chief Commercial
Officer, John Temperato, who left the company to pursue other
opportunities. McGuire, who reports to Dan Wechsler, has over 25
years of commercial experience in launching and commercializing
antibiotics.
The combined company has a broad global footprint with potential
to expand and a novel proprietary discovery platform that make it
the leading pure-play antibiotics company from discovery to
commercial.
The company’s President and Chief Executive Officer Dan Wechsler
will present additional details on the company’s strategic
priorities post-close at the 36th Annual J.P. Morgan Healthcare
Conference in San Francisco, CA from January 8-11, 2018. Melinta’s
presentation will take place on Wednesday, January 10, 2018 at
10:30 am Pacific Time.
A webcast of the presentation can be accessed on the investor
page of Melinta’s website at http://ir.melinta.com/events. A replay
of the webcast will also be archived on Melinta’s website following
the conference.
About Melinta Therapeutics Melinta
Therapeutics, Inc. is the largest pure-play antibiotics company,
dedicated to saving lives threatened by the global public health
crisis of bacterial infections through the development and
commercialization of novel antibiotics that provide new and better
therapeutic solutions. Its four marketed products include Baxdela®
(delafloxacin); Vabomere™ (meropenem and vaborbactam), Orbactiv®
(oritavancin), and Minocin® (minocycline) for Injection. It also
has an extensive pipeline of preclinical and clinical-stage
products representing many important classes of antibiotics, each
targeted at a different segment of the anti-infective market.
Together, this portfolio provides Melinta with the unique ability
to provide providers and patients with a range of solutions that
can meet the tremendous need for novel antibiotics treating serious
infections. Visit www.melinta.com for more information.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this communication constitute
“forward-looking statements” within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act
and are usually identified by the use of words such as
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“may,” “plans,” “projects,” “seeks,” “should,” “will,” and
variations of such words or similar expressions. We intend these
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act and Section 21E of the Securities Exchange
Act and are making this statement for purposes of complying with
those safe harbor provisions. These forward-looking statements
reflect our current views about our plans, intentions,
expectations, strategies and prospects, which are based on the
information currently available to us and on assumptions we have
made. Although we believe that our plans, intentions, expectations,
strategies and prospects as reflected in or suggested by those
forward-looking statements are reasonable, we can give no assurance
that the plans, intentions, expectations or strategies will be
attained or achieved. Furthermore, actual results may differ
materially from those described in the forward-looking statements
and will be affected by a variety of risks and factors that are
beyond our control.
Risks and uncertainties for Melinta include, but are not limited
to: inability to achieve the expected benefits of the acquisition
of The Medicines Company’s infectious disease business unit;
liquidity and trading market for Melinta’s shares following the
consummation of the acquisition; costs and potential litigation
associated with the acquisition; risks related to the costs, timing
and regulatory review of the Company’s studies and clinical trials;
uncertainties in obtaining successful clinical results for product
candidates and unexpected costs that may result therefrom;
inability or the delay in obtaining required regulatory approvals
for product candidates, which may result in unexpected cost
expenditures; failure to realize any value of certain product
candidates developed and being developed, in light of inherent
risks and difficulties involved in successfully bringing product
candidates to market; inability to develop new product candidates
and support existing products; inability to commercialize and
launch any product candidate that receives regulatory approval,
including Baxdela; risks relating to the Company’s substantial
indebtedness following the consummation of the acquisition and the
Company’s anticipated capital expenditures, its estimates regarding
its capital requirements and its need for future capital;
uncertainties of cash flows and inability to meet working capital
needs; cost reductions that may not result in anticipated level of
cost savings or cost reductions after the consummation of the
acquisition; the approval by the FDA and EMA and any other similar
foreign regulatory authorities of other competing or superior
products brought to market; risks resulting from unforeseen side
effects; risk that the market for the Company’s products may not be
as large as expected; inability to obtain, maintain and enforce
patents and other intellectual property rights or the unexpected
costs associated with such enforcement or litigation; inability to
obtain and maintain commercial manufacturing arrangements with
third party manufacturers or establish commercial scale
manufacturing capabilities; loss of or diminished demand from one
or more key customers or distributors; unexpected cost increases
and pricing pressures; the possibility of economic recession and
its negative impact on customers, vendors or suppliers; and risks
associated with the possible failure to realize certain benefits of
the proposed transactions, including future financial, tax,
accounting treatment, and operating results. Many of these factors
that will determine actual results are beyond Melinta’s ability to
control or predict.
Other risks and uncertainties are more fully described in our
Annual Report on Form 10-K for the year ended December 31, 2016, as
amended by Form 10-K/A, filed with the SEC on April 13, 2017, and
in other filings that Melinta makes and will make with the SEC.
Existing and prospective investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. The statements made in this press release speak
only as of the date stated herein, and subsequent events and
developments may cause our expectations and beliefs to change.
While we may elect to update these forward-looking statements
publicly at some point in the future, we specifically disclaim any
obligation to do so, whether as a result of new information, future
events or otherwise, except as required by law. These
forward-looking statements should not be relied upon as
representing our views as of any date after the date stated
herein.
For More Information:
Media Inquiries:Amra Maynard(917)
302-2702Amra.maynard@inventivhealth.com
Investor Inquiries:Lisa DeFrancesco(847)
681-3217ldefrancesco@melinta.com
Raj Mistry(312) 801-2051rmistry@melinta.com
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