Za­vante CEO sells his late-stage an­tibi­ot­ic biotech to Nabri­va — grab­bing the helm in the deal

The last time I talked to Za­vante CEO Ted Schroed­er in the spring of 2017, he was steer­ing his an­tibi­ot­ic Zolyd (fos­fomycin for in­jec­tion, or ZTI-01), plan­ning to squeak past the goal lines at the FDA with­out a pen­ny to spare of his $45 mil­lion in in­vestor back­ing.

The an­tibi­ot­ic is an old one, out­side the US, and he had grabbed coun­try rights in ex­pec­ta­tions that it would work as ex­pect­ed.

Now, about 15 qui­et months lat­er, we heard Tues­day af­ter­noon that Nabri­va $NBRV is step­ping in to buy the an­tibi­ot­ic and hus­tle it to reg­u­la­tors — in­di­cat­ing that Schroed­er’s old time­line and bud­get may have gone a lit­tle south some­how.

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