NEW HAVEN: Melinta Therapeutics, Inc. [Nasdaq: MLNT] and the $3.5 billion Menarini Group, based in Florence, Italy have entered into an agreement where Menarini will acquire the exclusive rights to co-develop and commercialize three antibiotics developed by Melinta, Vabomere™, Orbactiv® and Minocin® for Injection in 68 countries in Europe, Asia-Pacific including China, South Korea, and Australia (Japan excluded), and the Commonwealth of Independent States (CIS) including Russia for a total consideration of up to $265 million.
Under the terms of the agreement, Melinta will receive an undisclosed upfront licensing fee, additional approval and sales-based milestone payments, and potential royalty payments based on a percentage of net sales of the three products.
The agreement builds on Melinta and Menarini’s existing commercial and co-development agreement for Baxdela® (delafloxacin) – announced in 2017 – in the same 68 markets.
“We are excited to expand our partnership with the Menarini Group and significantly increase global access to our dynamic antibiotic portfolio,” said Dan Wechsler, President and CEO of Melinta. “Menarini has been an excellent partner with us on Baxdela, and with this agreement, we will unite all of our products under a single partner in these key global markets.”
“The addition of meropenem/vaborbactam, oritavancin and minocycline IV to our current portfolio, gives us the opportunity to build a high-value antibiotics platform supporting our 'infection in focus' mission to fight life-threatening bacterial infections,” said, Pio Mei General Manager of the Menarini Group.
Melinta will maintain its rights for Vabomere, Orbactiv and Minocin for Injection in the U.S., where all three products are currently marketed.