Paratek and Novartis Strike Antibiotic Deal

10/8/09

Paratek Pharmaceuticals, a Boston-based firm focused on treating infections that are immune to existing antibiotics, said it has struck an exclusive deal with Swiss drug giant Novartis for worldwide development and commercialization of its experimental aminomethylcycline antibiotic drug, classified as PTK 0796. The deal could bring as much as $485 million in initial fees and potential payments to Paratek, which does not yet have a drug on the market. PTK 0796, which can be taken orally or intravenously, is in late-stage clinical development for treating complicated skin and skin structure infections as well as moderate to severe cases of pneumonia that are contracted in the community setting, including deadly MRSA infections.

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