Paratek Pharmaceuticals, Inc. (PRTK)

[Enterprising Investor]

Paratek Pharmaceuticals Announces Stockholder Approval of Acquisition by Gurnet Point Capital and Novo Holdings A/S (9/18/23)

BOSTON, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (“Paratek”) (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, today announced, based on a preliminary vote count, that stockholders have approved the merger agreement proposal at Paratek’s special meeting of stockholders, in connection with the previously announced definitive agreement to be acquired by Gurnet Point Capital ("Gurnet Point") and Novo Holdings A/S ("Novo Holdings").

Final voting results for the special meeting will be disclosed on Form 8-K filed by Paratek with the U.S. Securities and Exchange Commission.

About Paratek Pharmaceuticals, Inc.

Paratek Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats.

The company's lead commercial product, NUZYRA® (omadacycline), is a once-daily oral and intravenous antibiotic available in the United States for the treatment of adults with community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI). Paratek has a collaboration agreement with Zai Lab for the development and commercialization of omadacycline in the greater China region and retains all remaining global rights.

Paratek is also conducting a Phase 2b study with NUZYRA in a rare disease, nontuberculous mycobacterial (NTM) pulmonary disease, caused by Mycobacterium abscessus complex. Paratek estimates this opportunity represents a potential $1 billion addressable market in the United States.
Paratek exclusively licensed U.S. rights and rights to the greater China territory for SEYSARA® (sarecycline), a once-daily oral therapy for the treatment of moderate to severe acne vulgaris, to Almirall, LLC. Paratek retains the development and commercialization rights for sarecycline in the rest of the world.

In 2019, Paratek was awarded a contract from the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA), now valued at up to $304 million, to support the development and U.S.-based manufacturing of NUZYRA for pulmonary anthrax.
For more information, visit www.ParatekPharma.com or follow us on LinkedIn and Twitter.

https://www.globenewswire.com/news-release/2023/09/18/2744909/33636/en/Paratek-Pharmaceuticals-Announces-Stockholder-Approval-of-Acquisition-by-Gurnet-Point-Capital-and-Novo-Holdings-A-S.html