Pelthos Therapeutics secures US rights to market Xepi cream, a non-fluorinated quinolone antimicrobial, from Biofrontera and Ferrer Internacional. The cream treats impetigo caused by bacteria in adults and children as young as two months.

Pelthos completes a private financing round, raising $18m from current investors through convertible notes. Terms of the deal require upfront payments of $3m to Biofrontera and $1.2m to Ferrer, with additional payments based on commercial supply levels and future sales.

Xepi cream, approved by the FDA in 2017, was developed by Ferrer and Medimetriks Pharmaceuticals. Pelthos plans to relaunch the product by the end of 2026, targeting the spread of impetigo in children and crowded settings.

Convertible notes will accrue 8.5% interest annually, with quarterly payments and a maturity date of November 6, 2027. Funds raised will support commercial activities for Zelsuvmi and operational costs.

Legal advice for Pelthos was provided by Sullivan & Worcester and Paul Hastings, with financing guidance from Piper Sandler and Lake Street Capital Markets. Roth Capital Partners advised on the Xepi rights acquisition, while other firms represented investors in the financing transaction.

Read more at Yahoo Finance: Pelthos acquires US rights to Xepi cream from Biofrontera and Ferrer