Drugmaker Melinta, Co-Founded by Nobel Winner, Files Bankruptcy [Yahoo! Finance News]
MELINTA THERAPEUTICS INC (MLNT)
Last melinta therapeutics inc earnings: 11/12 04:39 pm
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Source: Yahoo! Finance News
) -- Melinta Therapeutics Inc., a bio-pharmaceutical company specializing in infectious disease treatment, filed for Chapter 11 bankruptcy in Delaware with plans to continue operating. Melinta listed as much as $500 million in assets and up to $500 million in liabilities in its bankruptcy petition. Founded in 2000 by scientists including Nobel Prize winner Thomas Steitz, the company sells drugs that treat MRSA, urinary tract and other bacterial infections. The drugmaker has reached a restructuring agreement with secured lenders from Deerfield Private Design Fund III LP and Deerfield Private Design Fund IV LP, who would acquire 100% of the equity in the reorganized company in exchange for $140 million of secured claims under a senior credit facility, according to a regulatory filing and company statement. Melinta will also consider competitive bids for its assets or business beyond the deal with creditors, and aims to close a transaction by the end of the first quarter of 2020. A repre
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