CorMedix Acquires Melinta Therapeutics for $300 Million

CorMedix has agreed to buy Melinta Therapeutics from Deerfield Management for $300 million in cash and stock. The deal adds six marketed infectious-disease products, including Rezzayo and Toprol-XL, to CorMedix's offerings. CorMedix will pay $260 million in cash and issue $40 million in stock to Deerfield.

CorMedix Inc. has agreed to acquire Melinta Therapeutics from Deerfield Management for $300 million in cash and stock. The deal will add six marketed infectious-disease products, including REZZAYO® (rezafungin for injection) and TOPROL-XL® (metoprolol succinate), to CorMedix's offerings. CorMedix will pay $260 million in cash and issue $40 million in stock to Deerfield [1].

The acquisition, announced on August 7, 2025, underscores the strategic value of Melinta's portfolio and its leadership in the acute care market. Melinta's products, including REZZAYO®, MINOCIN® (minocycline) for Injection, VABOMERE® (meropenem and vaborbactam), KIMYRSA® (oritavancin), ORBACTIV® (oritavancin), BAXDELA® (delafloxacin), and TOPROL-XL®, will be integrated into CorMedix's commercial portfolio, enhancing its capabilities in the specialty pharmaceutical sector [1].

Melinta, a commercial-stage company focused on providing innovative therapies for acute and life-threatening illnesses, has demonstrated significant growth since becoming privately owned by Deerfield Management in 2020. The company has achieved 85% revenue growth, positive cash flow, and sustainable profitability, while increasing employee satisfaction and building a highly talented team [1].

The acquisition is expected to generate near-term earnings growth for CorMedix, with the combined company projecting revenue of $305 million to $335 million in 2025. CorMedix anticipates double-digit earnings per share (EPS) growth in 2026, driven by the integration of Melinta's products and operational synergies [2].

In addition to the upfront consideration, CorMedix will pay Melinta an additional regulatory milestone of up to $25 million for the FDA approval of REZZAYO® for prophylaxis of invasive fungal infections in adults undergoing allogenic blood and marrow transplantation (BMT), if the milestone event is achieved by June 30, 2029. The deal also includes tiered royalties on REZZAYO U.S. net sales and low-single-digit royalties on MINOCIN® for injection U.S. net sales [1].

The merger is subject to customary closing conditions and U.S. regulatory approval, and is expected to close in September. Evercore is acting as exclusive financial advisor, and Fenwick & West LLP is acting as legal advisor to Melinta. Katten Muchin Rosenman LLP is acting as legal advisor for Deerfield Management Company, L.P. [1].

References:
[1] https://melinta.com/melinta-therapeutics-announces-strategic-acquisition-by-cormedix-underscoring-its-portfolio-value-and-industry-leadership/
[2] https://stocktwits.com/news-articles/markets/equity/cor-medix-strikes-300-m-deal-for-melinta-therapeutics-retail-calls-it-a-wonderful-acquisition/chrVxKTRd3o