Nabriva Therapeutics has acquired Zavante Therapeutics in a stock deal that brings to the antibiotics developer an FDA-ready drug.
Under the deal terms announced after the market close Tuesday, San Diego-based Zavante received an upfront payment of 8.2 million Nabriva (NASDAQ: NBRV) shares. Nabriva, which splits its operations between Ireland and King of Prussia, PA, finished the trading day at $3.30 per share, making that payment worth $27 million. If Zavante’s drug hits regulatory and commercial milestones, that company’s former shareholders stand to gain up to $97.5 million more.
Zavante’s lead drug candidate, an injectable form of fosfomycin (Contepo), has… Read more »
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