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Paratek Pharmaceuticals Announces the Close of $40 Million Private Placement to Finance Programs to Combat MRSA Infections
Date:10/25/2007

BOSTON, Oct. 25 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. announced today that it has closed the first tranche of a $40 million private financing. Aisling Capital led the round, with additional participation by new investors, D.E. Shaw and Boston Life Science Venture Corporation, and current investors, Nomura Phase4 Ventures, Novartis BioVentures, BioFund Ventures, HBM BioVentures, Lombard Odier Darier Hentsch, BioVeda Fund and Hercules Technology Growth Capital. The second and final tranche is expected to be closed in early 2008. Pacific Growth Equities served as placement agent for the financing.

Proceeds of the financing will be used primarily to advance Paratek's lead programs to develop broad-spectrum antibiotics, including two antibiotics for the treatment of resistant bacterial infections such as those caused by Methicillin-Resistant Staphylococcus aureus (MRSA). Recent media attention on the dramatic increase in invasive MRSA infections, as published in the October 17, 2007 issue of the Journal of the American Medical Association (JAMA), has highlighted the dire need for new antibiotics to combat these infections in both the hospital and community settings. Paratek has designed two broad- spectrum antibiotics that have been shown to work against susceptible bacteria found in most common infections, as well as antibiotic resistant bacteria such as MRSA, vancomycin-resistant Enterococci (VRE) and penicillin-resistant Streptococcus pneumoniae (PRSP).

Paratek's most advanced broad-spectrum antibiotic, PTK 0796, is currently being developed to treat serious, often life-threatening infections that require a hospital visit such as complicated skin and skin structure infections (cSSSI) and moderate to severe community-acquired pneumonias (CAP). Oral and intravenous (IV) forms of PTK 0796 are being studied in comparison to Zyvox(R) in an ongoing Phase 2 clinical study of patients with cSSSI. The study is anticipated to complete enrollment this
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SOURCE Paratek Pharmaceuticals, Inc.
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