On January 8, 2018 Melinta Therapeutics, Inc. (NASDAQ:MLNT), a commercial-stage company developing and commercializing novel antibiotics to treat serious bacterial infections, reported the successful completion of its previously announced acquisition of The Medicines Company’s (NASDAQ: MDCO) infectious disease business (Press release, Cempra, JAN 9, 2018, View Source [SID1234523042]).
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"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 View Source A replay of the webcast will also be archived on Melinta’s website following the conference.