Proceeds to be used to continue to advance development of Armata's phage product candidates LOS ANGELES , March 12, 2025 /PRNewswire/ -- Armata Pharmaceuticals, Inc. (NYSE American: ARMP) ("Armata" or the "Company"), a clinical-stage biotechnology company focused on the development of high-purity pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat bacterial infections, today announced that it has entered into a secured credit agreement with Innoviva Strategic Opportunities LLC, a wholly-owned subsidiary of Innoviva, Inc. (Nasdaq: INVA) (collectively, "Innoviva"), Armata's largest shareholder. The gross proceeds to be received by the Company at closing are $10 million before deducting transaction-related expenses.
Innoviva's strong balance sheet and stable royalty income from GlaxoSmithKline provide a solid foundation for its shift to specialty therapeutics, presenting an asymmetric risk-reward profile. The company is transitioning from a royalty collector to an operator in specialty therapeutics, with significant growth in product sales, notably GIAPREZA and XACDURO. Key assets like Zevtera, an advanced-generation antibiotic, and a promising pipeline in infectious diseases, position Innoviva for potential market disruption and growth.
Ad hoc announcement pursuant to Art. 53 LR Allschwil, Switzerland, December 16, 2024 Basilea Pharmaceutica Ltd, Allschwil (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today that it has entered into an exclusive distribution and license agreement with Innoviva Specialty Therapeutics, Inc., a wholly owned subsidiary of Innoviva Inc. (NASDAQ: INVA), for the commercialization of Basilea's hospital anti-MRSA antibiotic Zevtera® (ceftobiprole) in the United States (US).
Zai Lab Limited and Innoviva Specialty Therapeutics have received approval from China's NMPA for Zai Lab's NDA for XACDURO® (sulbactam-durlobactam) for the treatment of HABP/VABP caused by susceptible isolates of Acinetobacter baumannii-calcoaceticus comp.
Innoviva, Inc. is a biopharma company focused on the development and commercialization of pharmaceutical products. However, the company's main asset is royalty revenues that come from products it receives from Glaxo Group Limited. There has been a lot of movement at the company over the past 12-18 months on myriad fronts.
The Food and Drug Administration said Tuesday that it approved Innoviva's Xacduro pneumonia treatment, which fights the Acinetobacter bacteria.
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