Deerfield Management Announces Sale of Melinta Therapeutics

Successful outcome illustrates Deerfield's ability to integrate financial and operational capabilities to create value

NEW YORK, Sept. 5, 2025 /PRNewswire/ -- Deerfield Management Company, an investment firm dedicated to advancing healthcare, announced that it has closed on the sale of its portfolio company Melinta Therapeutics to CorMedix, Inc.

In 2020, Deerfield assumed full private ownership of Melinta in a financial restructuring, announcing plans to deploy Deerfield's operational, business development, data analytics, and market research capabilities to sustainably grow and expand Melinta's product portfolio.

"When we acquired Melinta, we saw a solid base to build on – a small hospital antibiotics business with a committed and talented workforce, but lacking a complete leadership team and cohesive strategy for long-term growth and value creation. We knew we had the opportunity to create a leader in serving critically ill patients through assembling the right team and acquiring the right products to provide operating leverage," said Jonathan Leff, Partner at Deerfield and member of the Melinta Board of Directors. "The company's success over the last five years is a great credit to the hard work and collaboration of both the Melinta team and the Deerfield team."

As a result of recruiting exceptional talent, including Chief Executive Officer Christine Ann Miller, plus licensing and acquiring several new products, Melinta nearly doubled revenue, established positive cash flow, and achieved sustainable profitability. Today, the company's six marketed hospital- and clinic-focused infectious disease products include REZZAYO^® (rezafungin for injection), MINOCIN^® (minocycline) for Injection, VABOMERE^® (meropenem and vaborbactam), KIMYRSA^® (oritavancin), ORBACTIV^® (oritavancin), BAXDELA^® (delafloxacin), as well as an additional cardiovascular product, TOPROL-XL^® (metoprolol succinate).

"Deerfield's partnership was instrumental in Melinta's evolution into a leader in hospital and acute care," said Christine Ann Miller, CEO of Melinta Therapeutics. "Their strategic support and deep understanding of complex care settings empowered us to build a commercial platform attuned to the unique needs of the hospital ecosystem. Together, we accelerated growth, expanded our portfolio, and ensured our therapies reached patients when they are most vulnerable. I am deeply appreciative of our collaboration with Deerfield, which positioned Melinta for lasting impact and continued success in the acute care arena."

"The transformation and acquisition of Melinta is an excellent example of the distinctive set of operating, product development, and transactional capabilities that Deerfield brings to bear in healthcare," said Jim Flynn, Managing Partner at Deerfield. "Our approach required not only creative and flexible financing approaches but significant operational engagement in rebuilding a healthy, commercial-stage infectious disease company. We congratulate the Melinta team on this remarkable outcome, which underscores the value of the company's medicines to patients in need."

About Deerfield Management

Deerfield is an investment management firm committed to advancing healthcare through investment, intelligence, and philanthropy. The Firm works across the healthcare ecosystem to connect people, capital, ideas, and technology in bold, collaborative, and inclusive ways. For more information, please visit www.deerfield.com.

Contact

Jessica Sagers, PhD, Head of Communications
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SOURCE Deerfield Management Company, L.P.