Print
Email
Print Edition StoriesThursday, October 8, 2009
Paratek Pharmaceuticals to net up to $485M from Novartis licensing deal
By Mass High Tech staff
MHT's Julie Donnelly: Life science startups finding investments
MHT's Marc Songini: Technology to keep seniors healthy
MHT's Efrain Viscarolasaga: Tech companies may have to wait for stimulus funds
Boston biotech firm Paratek Pharmaceuticals Inc. has signed a worldwide license and commercialization agreement with Novartis, in which Paratek stands to receive up to $485 million in milestone and upfront payments. The agreement centers around Paratek’s antibiotic PTK 0796, currently in Phase 3 clinical trials.
The deal calls for Paratek and Novartis to share costs and responsibiility of the antibiotic’s development. Novartis will claim exclusive worldwide commercialization rights for PTK 0796, and Paratek also may receive royalty on net global sales of the antibiotic.
PTK 0796 is an oral and intravenous antibiotic that can be taken once daily to treat complicated skin and skin structure infections (cSSSI), community acquired bacterial pneumonia, methicillin-resistant Staphylococcus aureus (MRSA), and multi-drug resistant Streptococcus pneumoniae. Paratek’s technology was developed by Stuart Levy at Tufts University School of Medicine, which then licensed it to Paratek.
Wedbush PacGrow Life Sciences served as Paratek’s advisor in the agreement.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
