– Melinta Therapeutics, LLC, a commercial-stage company specializing in therapies for acute and life-threatening illnesses, has entered into a definitive agreement to be acquired by CorMedix Inc. (NASDAQ: CRMD).
– CorMedix is a biopharmaceutical company focused on developing and commercializing treatments for life-threatening diseases and conditions.
– The acquisition highlights Melinta’s strong portfolio, culture, capabilities, and experienced team within the acute hospital care ecosystem.
– Christine Ann Miller, CEO of Melinta, says the deal validates Melinta’s leadership in acute care and will create a stronger organization to expand patient access to therapies.
– Joseph Todisco, CEO of CorMedix, said the combination creates a specialty pharmaceutical leader with enhanced capabilities, scale, resources, and expertise to accelerate innovation and deliver significant value for stakeholders.
– Since being acquired by Deerfield Management in 2020, Melinta achieved 85% revenue growth, positive cash flow, sustainable profitability, increased employee satisfaction, a global presence through ex-US partnerships, and seven business development deals, including a partnership with BARDA for two FDA-approved antibiotics for pediatric use and development of a product against biothreat pathogens.
– CorMedix’s commercial portfolio will expand to include six marketed, hospital- and clinic-focused infectious disease products—REZZAYO®, MINOCIN® for Injection, VABOMERE®, KIMYRSA®, ORBACTIV®, BAXDELA®—plus the cardiovascular product TOPROL-XL®.
– REZZAYO® is approved for candidemia and invasive candidiasis in adults, with a Phase III prophylaxis trial in transplant patients expected to finish in 1H2026.
– The combination aims to position CorMedix as a leader in the specialty pharmaceutical business with enhanced scale, resources, and innovation capabilities.
– Deerfield’s Jonathan Leff praised Melinta’s transformation under Christine Ann Miller’s leadership and the strategic value of its infrastructure.
– Deal terms include $300M upfront consideration ($260M cash and $40M CorMedix equity via pre-funded warrants to Deerfield-affiliated shareholders), up to $25M milestone payment for FDA approval of REZZAYO® prophylaxis indication by June 30, 2029, and tiered royalties on REZZAYO® U.S. net sales along with low-single-digit royalties on MINOCIN® U.S. net sales.
– Closing is subject to regulatory approval and other conditions and is expected to complete in September.
