MORRISTOWN, N.J., Feb. 25, 2019 (GLOBE NEWSWIRE) -- Melinta Therapeutics, Inc. (NASDAQ: MLNT), a commercial-stage company focused on the development and commercialization of novel antibiotics to treat serious bacterial infections, today announced the closing and receipt of the initial $75 million disbursement under the previously announced convertible loan facility from Vatera Healthcare Partners LLC on February 22, 2019. In addition, the previously announced amendment to the facility agreement with funds managed by Deerfield Management Company, L.P. (collectively, “Deerfield”) also became effective.
The Company also announced that John H. Johnson has been appointed permanent chief executive officer. Mr. Johnson had been serving as interim chief executive officer since October 2018 and will continue to serve on the Company’s board of directors.
“We are pleased to have reached this important milestone as we continue to take action to strengthen our financial position,” said Mr. Johnson. “I am honored to continue in the CEO role on a permanent basis. We look forward to providing additional details on our initiatives to position the Company toward achieving profitable growth and value creation when we report fourth quarter and full year earnings.”
Melinta will host a conference call and live webcast on Wednesday, March 13, 2019 at 4:30 p.m. ET to discuss its fourth quarter and full year 2018 financial results and provide a business update. The Company will provide conference call and webcast details at a later date.
About Melinta Therapeutics
Melinta Therapeutics, Inc. is the largest pure-play antibiotics company, dedicated to saving lives threatened by the global public health crisis of bacterial infections through the development and commercialization of novel antibiotics that provide new therapeutic solutions. Its four marketed products include Baxdela® (delafloxacin), Vabomere® (meropenem and vaborbactam), Orbactiv® (oritavancin), and Minocin® (minocycline) for Injection. This portfolio provides Melinta with the unique ability to provide providers and patients with a range of solutions that can meet the tremendous need for novel antibiotics treating serious infections. Visit www.melinta.com for more information.
