WilmerHale Advises Tetraphase Pharmaceuticals in Agreement to be Acquired by Melinta Therapeutics
- 6.11.2020
On June 4, 2020, Tetraphase Pharmaceuticals, Inc. (Nasdaq: TTPH), a biopharmaceutical company focused on commercializing its novel tetracycline XERAVA to treat serious and life-threatening infections, and Melinta Therapeutics, wholly owned by Deerfield Management, a healthcare investment management firm, announced that they have entered into a definitive merger agreement pursuant to which Melinta would acquire Tetraphase for an aggregate of $39.0 million in cash, plus an additional $16.0 million in cash potentially payable under contingent value rights to be issued in the proposed acquisition. Also on June 4, 2020, Tetraphase terminated its previously announced merger agreement with AcelRx Pharmaceuticals in order to enter into the definitive merger agreement with Melinta. The transaction is expected to close in the third quarter of 2020.
WilmerHale is representing Tetraphase in the transaction, with a team led by Partners Stuart Falber, Hal Leibowitz and Chris Barnstable-Brown, which also included Counsel Doug Edwards and Associates Meghan Fay, Victoria Peluso and Gerard Fischetti on corporate and M&A matters, and Partners Kim Wethly, Julie Hogan Rodgers, Scott Kilgore and Associate Ben Kelsey on tax, executive compensation and employment and benefits matters.
