Melinta Gets Investment To Fight "Superbugs" - See Report
NEW HAVEN: Melinta Therapeutics, Inc. [Nasdq:MLNT], a commercial-stage company developing and commercializing “novel” antibiotics” 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.
CARB-X of Boston, MA, was launched in August 2016 to “accelerate pre-clinical product development in the area of antibiotic-resistant infections” which the company calls, “one of the world’s greatest health threats.”
CARB-X was established by the Biomedical Advanced Research and Development Authority (BARDA) and the National Institute of Allergy and Infectious Diseases (NIAID) of the U.S. Department of Health and Human Services and the Wellcome Trust, a global charitable foundation dedicated to improving health.
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.
“This funding aims to speed the development of an exciting new class of antibiotics to treat patients with life-threatening Gram-negative infections and to enhance global health security. It's vital we accelerate the discovery of new and innovative approaches to addressing the rising threat of drug resistance; it has been more than half a century since the last new class was approved,” said Kevin Outterson, Executive Director of CARB-X.