BioCentury
ARTICLE | Finance

Funding the 3X3 plan

Why antibiotics play Melinta raised private money instead of seeking IPO

February 17, 2014 8:00 AM UTC

Rather than take advantage of a piping hot IPO market, Melinta Therapeutics Inc. is using last week's private round to extract more value out of its delafloxacin antibiotic. The company plans to focus on three Phase III trials of the molecule before testing the public waters.

Melinta raised about $35 million of a planned $70 million in a tranched venture round led by existing investor Vatera Healthcare Partners, a private equity firm. New investor Falcon Flight also participated, along with undisclosed existing and new investors...