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Paratek Announces Appointments of Dennis Molnar as Chief Executive Officer and Director and of Dr. Evan Loh as Chief Medical Officer and Chairman of the Board of Directors
Date:5/22/2012

BOSTON, May 22, 2012 /PRNewswire/-- Paratek Pharmaceuticals, Inc. today announced that Dennis Molnar, formerly Paratek's Vice President, Corporate Development, has been appointed President, Chief Executive Officer and Director, succeeding former CEO Thomas J. Bigger, following his resignation earlier this year.  In addition, Evan Loh, MD, former senior R&D executive at Pfizer and Wyeth and who led regulatory approval for the antibiotic Tygacil®, has joined the Company as Chief Medical Officer and as Chairman of the Board of Directors.  Former Chairman, Dr. Walter Gilbert, will continue to serve on the Board as Vice Chairman.

"It has been a privilege to work with Tom Bigger and the rest of the team over the last eleven years as we have built and advanced a diversified pipeline," said Mr. Molnar.  "We are excited about the addition of Dr. Loh as Chairman and Chief Medical Officer, and we look forward to the next chapter of the Company's development with his involvement."

Dr. Loh stated, "The need for new treatments for antibiotic resistance has never been greater, and many in the clinical community see an unfolding crisis that will require continued commitments to innovation, drug development expertise and close partnerships with regulatory agencies around the globe.  I am excited to join the Paratek team and meet this challenge head on."

Paratek recently announced agreement with the U.S. Food and Drug Administration (FDA) on its second Special Protocol Assessment (SPA) related to the design of the Phase 3 program for the Company's lead antibiotic candidate, omadacycline (formerly PTK 0796).  Omadacycline is a first-in-class aminomethylcycline antibiotic with oral and IV formulations with a broad spectrum of activity designed for community-acquired bacterial infections such as acute bacterial skin and skin structure infections (ABSSSI), community-acquired bacterial pneumonia (CABP) and urinary tract
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SOURCE Paratek Pharmaceuticals, Inc.
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