--- title: "CorMedix completes Melinta Therapeutics acquisition for $300 million" url: "https://aibio.space/news/cormedix-completes-melinta-therapeutics-acquisition-300-million/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-09-02" section: "Mergers" tickers: "NASDAQ:CRMD" source: "https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea0255371-8k_cormedix.htm" summary: "CorMedix paid $260 million in cash and $40 million in common shares to Melinta's owners. A contingent payment agreement adds up to $25 million tied to a re" --- By the aibio.space news desk. Sources - [CorMedix Inc. Form 8-K filed September 2, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea0255371-8k_cormedix.htm) - [CorMedix Inc. exhibit ea025537101ex99-1_cormedix.htm to the September 2, 2025 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea025537101ex99-1_cormedix.htm) - [CorMedix Inc. Form 10-K filed March 25, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1410098/000101376225001852/ea0234537-10k_cormedix.htm) [CRMD](https://aibio.space/companies/cormedix/) 2025-09-02 # CorMedix completes Melinta Therapeutics acquisition for $300 million in upfront consideration Tickers [CRMD](https://aibio.space/companies/cormedix/) CorMedix paid $260 million in cash and $40 million in common shares to Melinta's owners. A contingent payment agreement adds up to $25 million tied to a rezafungin approval by June 30, 2029. ## Key facts - **Company**: CorMedix Inc. (NASDAQ: CRMD) - **News type**: Mergers - **Primary source**: [CorMedix Inc. Form 8-K filed September 2, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea0255371-8k_cormedix.htm) *Two people shaking hands across a table. Photo: Kristin Hardwick, CC0, via StockSnap. The picture shows the field, not the companies named.* CorMedix Inc. (Nasdaq: [CRMD](https://aibio.space/companies/cormedix/)) completed its acquisition of Melinta Therapeutics, LLC, a private commercial-stage company, and said it paid $300 million in upfront consideration. The merger consideration was $260 million in cash and $40 million worth of CorMedix common shares. CorMedix reported the closing and a new leadership team in a [Form 8-K filed September 2, 2025](https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea0255371-8k_cormedix.htm). ## The consideration At the effective time of the merger, CorMedix paid the Melinta equityholders an aggregate of $260 million in cash. The filing says that figure is subject to adjustment for items defined in the merger agreement, including estimated company cash, debt, working capital and transaction expenses. CorMedix also issued the Consenting Melinta Members an aggregate of $40 million worth of common shares, called the Merger Shares. The Consenting Melinta Members are Deerfield Private Design Fund III, L.P. and Deerfield Private Design Fund IV, L.P. CorMedix funded the cash portion with its existing cash on hand and a $150 million convertible notes offering. A [press release](https://www.sec.gov/Archives/edgar/data/1410098/000121390025082956/ea025537101ex99-1_cormedix.htm) says the investors in that financing included Deerfield, and that affiliates of Deerfield Management Company, L.P. were Melinta's sole owners. ## Contingent payments and royalties On the closing date, CorMedix, Melinta, the two Deerfield funds and the Members' Representative signed a contingent payment agreement, dated August 29, 2025. The underlying merger agreement, dated August 7, 2025, is among CorMedix, Melinta, Coriander BidCo, LLC and Deerfield Private Design Fund IV, L.P. as representative of the Melinta members. It covers milestone and net sales payments. If the FDA approves REZZAYO (rezafungin), or any product containing rezafungin, for the prevention of invasive fungal infections in adults undergoing allogeneic stem cell blood and marrow transplant on or before June 30, 2029, CorMedix will pay in cash or common shares, at its election. The amount depends on the approved labeling: $20 million if it includes candida, $2.5 million if it includes aspergillus, and $2.5 million if it includes pneumocystis. The agreement also provides for tiered royalties on U.S. net sales of REZZAYO and low-single-digit royalties on U.S. net sales of MINOCIN (minocycline). ## Resale registration CorMedix and the Consenting Melinta Members also signed a registration rights agreement. CorMedix agreed to register the Merger Shares for resale under Rule 415 of the Securities Act. One third of the Merger Shares are subject to a 60-day lock-up, and one third are subject to a 120-day lock-up. The shares were issued in reliance on the exemption from registration in Section 4(a)(2) of the Securities Act. ## New executive appointments CorMedix named Susan Blum Chief Financial Officer, Elizabeth Hurlburt Chief Operating Officer and Matthew David Chief Business Officer, each effective on the closing date. Blum had been Chief Financial Officer of Melinta. Hurlburt had been EVP, Chief Clinical Strategy and Operations Officer of CorMedix, and David had been its Chief Financial Officer. David ceased to serve, and Blum began serving, as principal financial officer. Employment agreements set annual base salaries of $488,000 for Blum, $500,000 for Hurlburt and $423,833 for David. Each is eligible for a target annual bonus of 45% of base salary. CorMedix will grant Blum restricted stock units with a value of $1,000,000, vesting in equal annual installments over four years. Severance for a termination without cause or for good reason includes nine months of base salary continuation. The filing says none of the three has an arrangement with any other person about their selection and none has a family relationship with a CorMedix director or executive officer. Chief Executive Officer Joseph Todisco signed the Form 8-K. In the press release he said the acquisition "is a transformational step in the evolution of CorMedix." ## About the company CorMedix describes itself in its [annual report on Form 10-K](https://www.sec.gov/Archives/edgar/data/1410098/000101376225001852/ea0234537-10k_cormedix.htm), filed March 25, 2025, as a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions. Its lead product is DefenCath (taurolidine and heparin), launched in April 2024 in the inpatient setting and July 2024 in the outpatient hemodialysis setting. The press release says the Melinta deal adds seven marketed products to CorMedix's portfolio. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CRMD CorMedix Inc. NASDAQ ยท United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/cormedix-completes-melinta-therapeutics-acquisition-300-million/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "CorMedix completes Melinta Therapeutics acquisition for $300 million", 2025-09-02, https://aibio.space/news/cormedix-completes-melinta-therapeutics-acquisition-300-million/