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.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
View all posts by Ryan McBride
