Date: 2014-02-10
Type of information: Series C financing round
Company: Melinta Therapeutics (USA - CT)
Investors: Vatera Healthcare Partners (USA - NY) Santo Domingo Group undisclosed new and existing investors
Amount: $70 million
Funding type: series C financing round
Planned used:
- Proceeds from this financing will be used, in part, to advance delafloxacin, a differentiated fluoroquinolone, through an ongoing Phase 3 study of a single oral dose in individuals with uncomplicated gonorrhea, to the submission of a New Drug Application (NDA) in late 2014.
- In addition, the funds will support delafloxacin’s two ongoing Phase 3 trials for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and the selection of lead candidates from Melinta’s RX-04 research program. The RX-04 program is focused on the creation of novel molecular structures and selection of unique candidates that target novel binding sites on the bacterial ribosome. Melinta plans to select lead candidates and advance IND-enabling studies in 2014 for the treatment of serious and life-threatening infections caused by multi-drug resistant Gram-negative microbes.
- A Phase 3 trial of delafloxacin, a novel investigational fluoroquinolone, was initiated in January 2014 for the treatment of uncomplicated gonorrhea. The Phase 3 PROCEEDING (Prove Clinical Efficacy and Effectiveness of Delafloxacin in NeisseriaGonorrhoeae) program will assess the efficacy and safety of a single oral dose of delafloxacin compared to ceftriaxone (given in a single intramuscular injection).
- An intravenous (I.V.) formulation of delafloxacin is also being tested in the Phase 3 PROCEED (Prove Clinical Efficacy andEffectiveness of Delafloxacin) clinical trial as an experimental treatment for ABSSSI caused by Gram-negative and Gram-positive bacteria (including MRSA). A second Phase 3 trial in this indication was initiated in January 2014 to assess administration of I.V. followed by oral delafloxacin, a regimen which would potentially enable an I.V. to oral “step-down” treatment model.
- Delafloxacin was designated a Qualified Infectious Disease Product (QIDP) by the FDA for the treatment of uncomplicated gonorrhea.
Others: • On February 10, 2014, Melinta Therapeutics announced the closing of a $70 Million Series 3 equity financing. Current investor, Vatera Healthcare Partners, led the round and was joined by existing investors as well as new investors.
Therapeutic area: Infectious diseases
Is general: Yes
