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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