Nabriva Therapeutics acquires Zavante Therapeutics and with it Contepo (fosfomycin for injection)

Nabriva Therapeutics plc, a clinical stage biopharmaceutical company engaged in the research and development of novel anti-infective agents to treat serious infections,has announced that it has acquired Zavante Therapeutics, a biopharmaceutical company focused on developing novel therapies to improve the outcomes of hospitalized patients, for upfront consideration of approximately 8.2 million of Nabriva Therapeutics’ ordinary shares (which includes an indemnity holdback) to Zavante Therapeutics’ former stockholders upon completion of the acquisition. In addition, Zavante Therapeutics’ former stockholders are eligible to receive up to $97.5 million upon the achievement of specified regulatory and commercial milestones, which subject to approval by Nabriva Therapeutics’ shareholders and specified limitations, may be settled in Nabriva Therapeutics’ ordinary shares. Nabriva Therapeutics’ ordinary shares issued upon completion of the acquisition, together with shares that may be issuable upon release of an indemnity holdback, constitute approximately 19.9% of Nabriva Therapeutics’ ordinary shares outstanding as of immediately prior to completion of the acquisition.The sale includes Contepo (fosfomycin for injection, previously referred to as ZTI-01 and ZOLYD), is Zavante Therapeutics’ novel, potentially first-in-class in the United States, intravenous investigational antibiotic. Contepo is in development to treat serious infections, including those caused by multi-drug resistant Gram-negative and Gram-positive bacteria. Outside of the United States, IV fosfomycin has been used broadly for over 45 years to treat a variety of indications, including complicated urinary tract infections (cUTIs) and other serious bacterial infections. In recent years, IV fosfomycin has seen increasing use for treatment of serious infections caused by MDR Gram-negative bacteria. Zavante has been developing Contepo with the objective of establishing Contepo as a standard of care in the United States for hospitalized patients with serious infections caused by suspected or confirmed MDR bacteria.