07.26.18
Nabriva Therapeutics has acquired Zavante Therapeutics, a biopharmaceutical company focused on developing novel therapies to improve the outcomes of hospitalized patient.
“We believe the strategic acquisition of Zavante’s promising late-stage product candidate bolsters Nabriva’s leading position in developing new anti-infectives that address critical areas of unmet medical need, including antibiotic resistance,” said Colin Broom, M.D., former chief executive officer of Nabriva Therapeutics. “We expect that Nabriva’s expert commercial, medical affairs and supply chain infrastructure will be able to fully support CONTEPO, a novel, potential first-in-class IV treatment in the United States. We believe CONTEPO will be beneficial in the early, appropriate treatment of complicated urinary tract infections caused or suspected to be caused by multi-drug resistant (MDR) bacteria. Nabriva expects to file New Drug Applications (NDAs) with the U.S. Food and Drug Administration for both lefamulin and CONTEPO in the fourth quarter of 2018.”
CONTEPO™ (fosfomycin for injection, previously referred to as ZTI-01 and ZOLYD), is Zavante Therapeutics’ novel, potentially first-in-class in the United States, intravenous investigational antibiotic. CONTEPO is in development to treat serious infections, including those caused by multi-drug resistant Gram-negative and Gram-positive bacteria.
“With this acquisition, Nabriva strengthens its antibiotics leadership position with two late-stage antibiotics with novel mechanisms of action. Nabriva shares Zavante’s deep commitment to addressing the growing global problem of antibiotic resistance by providing novel treatment options to physicians and patients that combat serious and life-threatening infections,” said Ted Schroeder, former president and chief executive officer of Zavante. “With Nabriva’s scientific, clinical and commercial leadership, we believe the CONTEPO program can thrive and deliver the most value to our existing shareholders. I want to personally thank and recognize the contributions made by the entire team at Zavante. We’re proud of the company that we collectively built and are confident that our important mission and focus will continue under the guidance of the new team and our colleagues at Nabriva.”
The deal includes upfront consideration of approximately 8.2 million of Nabriva Therapeutics’ ordinary shares to Zavante Therapeutics’ former stockholders upon completion of the acquisition. In addition, Zavante Therapeutics’ former stockholders are eligible to receive up to $97.5 million upon the achievement of specified regulatory and commercial milestones, which subject to approval by Nabriva Therapeutics’ shareholders and specified limitations, may be settled in Nabriva Therapeutics’ ordinary shares.
“We believe the strategic acquisition of Zavante’s promising late-stage product candidate bolsters Nabriva’s leading position in developing new anti-infectives that address critical areas of unmet medical need, including antibiotic resistance,” said Colin Broom, M.D., former chief executive officer of Nabriva Therapeutics. “We expect that Nabriva’s expert commercial, medical affairs and supply chain infrastructure will be able to fully support CONTEPO, a novel, potential first-in-class IV treatment in the United States. We believe CONTEPO will be beneficial in the early, appropriate treatment of complicated urinary tract infections caused or suspected to be caused by multi-drug resistant (MDR) bacteria. Nabriva expects to file New Drug Applications (NDAs) with the U.S. Food and Drug Administration for both lefamulin and CONTEPO in the fourth quarter of 2018.”
CONTEPO™ (fosfomycin for injection, previously referred to as ZTI-01 and ZOLYD), is Zavante Therapeutics’ novel, potentially first-in-class in the United States, intravenous investigational antibiotic. CONTEPO is in development to treat serious infections, including those caused by multi-drug resistant Gram-negative and Gram-positive bacteria.
“With this acquisition, Nabriva strengthens its antibiotics leadership position with two late-stage antibiotics with novel mechanisms of action. Nabriva shares Zavante’s deep commitment to addressing the growing global problem of antibiotic resistance by providing novel treatment options to physicians and patients that combat serious and life-threatening infections,” said Ted Schroeder, former president and chief executive officer of Zavante. “With Nabriva’s scientific, clinical and commercial leadership, we believe the CONTEPO program can thrive and deliver the most value to our existing shareholders. I want to personally thank and recognize the contributions made by the entire team at Zavante. We’re proud of the company that we collectively built and are confident that our important mission and focus will continue under the guidance of the new team and our colleagues at Nabriva.”
