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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER