Melinta Therapeutics Receives Up to $6.2 Million from CARB-X to Advance Clinical Development of a Novel Antimicrobial to Combat Antibiotic-Resistant Bacteria
MELINTA THERAPEUTICS INC (MLNT)
Last melinta therapeutics inc earnings: 11/12 04:39 pm
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Source: GlobeNewswire
NEW HAVEN, Conn., May 07, 2018 (GLOBE NEWSWIRE) -- Melinta Therapeutics, Inc. (NASDAQ:MLNT), a commercial-stage company discovering, developing and commercializing novel antibiotics to treat serious bacterial infections, today announced that it has entered into a partnership with CARB-X, under which Melinta will be awarded up to $6.2 million to support the development of the company’s investigational pyrrolocytosine compounds. Under the terms of the partnership, Melinta will receive an initial award of up to $2.3 million from CARB-X, with the possibility of $3.9 million in additional awards based on the achievement of certain project milestones. Melinta’s novel pyrrolocytosine compounds are a novel class of antibiotics from the company’s ESKAPE Pathogen Program, a program based on Melinta’s proprietary drug discovery platform focused on developing breakthrough antibiotics for bacterial “superbugs” by targeting the bacterial ribosome. The pyrrolocytosines have been designed de no
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