The flagship product of Paratek Pharmaceuticals is Nuzyra (omadacycline), an oral and intravenous antibiotic approved for use in the US, in adults with community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections, particularly for patients with comorbidities or suspected resistant pathogens
Paratek Pharmaceuticals goes private in $462m deal with Novo Holdings and Gurnet Point Capital. (Credit: Tumisu from Pixabay)
Novo Holdings and Gurnet Point Capital have wrapped up the previously announced $462m acquisition of Paratek Pharmaceuticals, a commercial-stage biopharmaceutical company based in the US.
Paratek Pharmaceuticals is engaged in developing and commercialising novel therapies for life-threatening diseases and other public health threats.
Novo Holdings serves as the holding and investment company tasked with overseeing the assets and wealth of the Novo Nordisk Foundation. It is also the controlling shareholder of Novo Nordisk and Novozymes.
On the other hand, Gurnet Point Capital is a healthcare investment firm.
The deal was announced in June 2023. It represents the largest individual investment of Novo Holdings to date in antimicrobial resistance therapies.
Paratek Pharmaceuticals is said to be among the world’s largest independent antibiotics companies, with annual revenues exceeding $100m.
The flagship product of its portfolio is Nuzyra (omadacycline), an oral and intravenous antibiotic approved for use in the US.
Nuzyra is a treatment option in the US for adults with community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI), particularly for patients with comorbidities or suspected resistant pathogens.
Paratek Pharmaceuticals has a collaboration arrangement in place with Zai Lab, which is focused on the development and commercialisation of omadacycline within the greater China region. The former maintains exclusive global rights for the rest of the world.
Prior to the deal, Paratek Pharmaceuticals was listed on the Nasdaq stock exchange. Earlier this week, its shareholders approved the deal to clear the path for the company’s transition to becoming privately held.
Novo Holdings partner Aleks Engel said: “We are committed to maintaining Paratek’s leadership in reaching patients and delivering innovative products across the globe. We look forward to supporting the continued growth of NUZYRA, and the expansion of Paratek’s product portfolio, including the acquisition or licensing of other therapeutics in antibiotics and beyond.
“We are thrilled to partner with Gurnet Point, an investment firm specialised in commercial specialty pharmaceutical companies to advance Paratek’s growth.”