Nabriva acquires Zavante

Nabriva Therapeutics plc (NASDAQ:NBRV) acquired Zavante Therapeutics Inc. (San Diego, Calif.) for 8.2 million Nabriva shares, or $27.1 million based on the company’s close of $3.30 on July 24, before the acquisition was announced after market close. Zavante shareholders hold a 19.9% stake in Nabriva following the acquisition and are also eligible for $97.5 million in milestones. Nabriva declined to provide details.

Nabriva gained Contepo fosfomycin (formerly Zolyd), which met the primary endpoint in the Phase II/III ZEUS trial to treat complicated urinary tract infection, including acute pyelonephritis. Next quarter, Nabriva expects to submit an NDA for the candidate to FDA through its 505(b)(2) pathway. The IV broad-spectrum epoxide antibiotic has Qualified Infectious Disease Product (QIDP) and Fast Track designations in the U.S. Contepo is also being evaluated in a pediatric trial (see “Zolyd: Ph II/III ZEUS Data”)...