An­tibi­otics apoc­a­lypse: Melin­ta files for bank­rupt­cy pro­tec­tion as a plague of woes af­flicts the field

The an­tibi­otics field is end­ing the year on an ap­pro­pri­ate­ly bleak note, sound­ing the lat­est warn­ing of a col­laps­ing field as the threat of drug-re­sis­tant su­per­bugs ris­es around the plan­et.

Melin­ta Ther­a­peu­tics $ML­NT has filed for Chap­ter 11 bank­rupt­cy, con­tin­u­ing its course with the cash it has on hand and a deal to turn over con­trol to Deer­field in ex­change for the $140 mil­lion of se­nior debt it holds in the an­tibi­otics play­er. The biotech ex­pects to com­plete a re­or­ga­ni­za­tion in bank­rupt­cy in Q1 of next year, dur­ing which time the com­pa­ny and Deer­field will re­main open to bet­ter of­fers.

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