Deerfield Management Company, an investment management firm, completed the acquisition of Melinta Therapeutics, a commercial-stage company focused on the development and commercialization of novel antibiotics, by exchanging $140m of secured claims arising under its senior credit facility for 100% of the equity. "While we have successfully conserved cash and enhanced revenue over the past several quarters, we nevertheless anticipate challenges in meeting the Company’s obligations, including near-term compliance with certain covenants. We are confident that this process will secure new ownership of the business with the financial resources to support the Company’s antibiotics portfolio and ensure these potentially life-saving products continue to get to patients in need. We sincerely thank our employees and partners for their commitment to the antibiotics space, our business, and the patients we serve," Jennifer Sanfilippo, Melinta interim chief executive officer.