Melinta Therapeutics has offered Tetraphase Pharmaceuticals an unsolicited takeover bid of $27M in cash and $12.5M payable under a contingent value right.
“At the heart of either deal is Tetraphase’s antibiotic eravacycline (branded as Xerava), which was approved in 2018 for complicated intra-abdominal infections, some four years after the company reported its first batch of pivotal trial data. Last year, the drug generated a mere $3.6 million in net sales.”
Natalie Grover, Reporter for EndpointNews
This is following Tetraphase’s announcement of a merger with AcelRx Pharmaceuticals in an all-stock deal for $14.4M as of March 16.