Tetraphase will now merge with Melinta Therapeutics

Tetraphase Pharmaceuticals, Inc.a biopharmaceutical company focused on commercializing its novel tetracycline Xerava to treat serious and life-threatening infections, announced that it has entered into a definitive merger agreement with Melinta Therapeutics, Inc. pursuant to which Melinta would acquire Tetraphase, through a tender offer, for an aggregate of $39.0 million in cash, plus an additional $16.0 million in cash potentially payable under contingent value rights (“CVRs”) to be issued in the proposed acquisition. The Board of Directors of Tetraphase unanimously recommends that stockholders tender their shares in the Melinta tender offer once it is commenced. Tetraphase has terminated its merger agreement with AcelRx to enter into merger agreement with Melinta.In connection with the termination the definitive merger agreement with AcelRx, Tetraphase paid AcelRx a termination fee in the amount of $1,778,000.