September 19, 2014 1:08 AM ET

Biotechnology

Company Overview of Paratek Pharmaceuticals, Inc.

Company Overview

Paratek Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of antibiotics to save lives and alleviate suffering. It offers, omadacycline, a tetracycline-derived, broad-spectrum antibiotic for use as a first-line monotherapy for acute bacterial skin and skin structure infections, community-acquired bacterial pneumonia, urinary tract infections, and other serious community-acquired bacterial infections. The company also provides WC 3035, a tetracycline-derived compound with dual narrow-spectrum antibacterial and potent anti-inflammatory activity for use in the treatment of acne and rosacea. In addition, it offers solutions for multi...

75 Kneeland Street

Boston, MA 02111

United States

Founded in 1996

31 Employees

Phone:

617-275-0040

Fax:

617-275-0039

Key Executives for Paratek Pharmaceuticals, Inc.

Chairman of The Board and Chief Executive Officer
Age: 57
President
Age: 55
Co-Founder and Chief Scientific Officer
Age: 75
Co-Founder
Age: 82
Chief Financial Officer
Age: 39
Compensation as of Fiscal Year 2014.

Paratek Pharmaceuticals, Inc. Key Developments

Paratek Pharmaceuticals, Inc. Announces Management Changes

Paratek Pharmaceuticals, Inc. announced that Michael F. Bigham, Partner at Abingworth LLP, has been appointed as Chairman of the board of directors and Chief Executive Officer. In addition, Dr. Evan Loh, Chief Medical Officer at Paratek, has been promoted to President and Chief Medical Officer and will continue to serve on the board of directors. Dennis Molnar, the company's previous CEO, will remain a member of the senior management team Michael F. Bigham currently serves on the boards of Avedro and Secure EDI and has held several directorships including Avila Therapeutics where he was the founding Chairman and CEO, Magellan Biosciences, Portola Pharmaceuticals, Supernus Pharmaceuticals and Valeritas.

Paratek Pharmaceuticals, Inc., Transcept Pharmaceuticals, Inc. - M&A Call

To discuss the proposed transaction

Paratek Pharmaceuticals, Inc. Announces Expanded FDA Grant of Qualified Infectious Disease Product Designation for its Lead Product Candidate, Omadacycline

Paratek Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has designated the company's antibiotic candidate, omadacycline, as a Qualified Infectious Disease Product (QIDP) for the treatment of complicated Urinary Tract Infections (cUTI). This QIDP designation is applicable for both intravenous (IV) and oral formulations of omadacycline. The QIDP designation provides Paratek access to certain incentives, including priority review associated with a New Drug Application (NDA) submission, eligibility for fast-track status for smaller population studies targeting certain resistant organisms, and a five-year extension of exclusivity under the Hatch- Waxman Act upon FDA approval of omadacycline. This designation is in addition to that announced by Paratek on January 3, 2013 granting QIDP status for IV and oral formulations of omadacycline for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and community-acquired bacterial pneumonia (CABP). The QIDP designation, which the company believed is a first for an orally available antibiotic for the treatment of cUTI, is provided under the Generating Antibiotic Incentives Now Act (GAIN Act), which was enacted in July 2012 under the Food and Drug Administration Safety and Innovation Act (FDASIA), formerly known as Prescription Drug User Fee Act V (PDUFA V). In studies conducted to date, omadacycline achieved high concentrations in the urinary tract following oral dosing and retains activity against MDR E. coli and other bacteria common to community-acquired cUTI. Paratek plans to conduct a cUTI Phase 2 clinical study with omadacycline.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 1, 2014
Transcept Pharmaceuticals, Inc.
Private Placement
June 30, 2014
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