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Paratek Announces License Grant to Almirall for SEYSARA® (sarecycline) for Greater China Region

BOSTON, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases or other public health threats for civilian, government and military use, today announced the Company has entered into a license grant with Almirall (ALM) for SEYSARA® (sarecycline) for the greater China region, which includes the Peoples Republic of China, Hong Kong, and Macau.  Under the terms of the agreement, Paratek will earn high single-digit royalties on net sales in the greater China region.  Almirall plans to develop sarecycline for acne in China, with a potential submission to the China National Medical Products Administration in 2023.  Almirall also has rights to SEYSARA for acne in the U.S. and has successfully commercialized the product since its launch in January 2019.  

As part of this agreement, Paratek and Almirall also finalized a license granting Paratek exclusive rights to develop, manufacture and commercialize sarecycline outside of the U.S.  Under the terms of the agreement, Paratek will share with Almirall any potential revenues of SEYSARA (sarecycline) outside of the U.S. and greater China region.

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

The company’s lead commercial product, NUZYRA® (omadacycline), is a once-daily oral and intravenous antibiotic available in the U.S. for the treatment of adults with community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections. 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.

In 2019, Paratek was awarded a contract from the Biomedical Advanced Research and Development Authority (BARDA) to support the development of NUZYRA for the treatment of pulmonary anthrax.

Paratek exclusively licensed certain 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, or Almirall. Paratek retains the development and commercialization rights for sarecycline in the rest of the world.

For more information, visit www.ParatekPharma.com or follow @ParatekPharma on Twitter.

Forward Looking Statements
This press release contains forward-looking statements including statements related to our sarecycline overall strategy, products, prospects and potential. All statements, other than statements of historical facts, included in this press release are forward-looking statements, and are identified by words such as "advancing," "expect," "look forward," "anticipate," "continue," and other words and terms of similar meaning. These forward-looking statements are based upon our current expectations and involve substantial risks and uncertainties. We may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in our forward-looking statements and you should not place undue reliance on these forward-looking statements. Our actual results and the timing of events could differ materially from those included in such forward-looking statements as a result of these risks and uncertainties. These and other risk factors are discussed under "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2018 and our other filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein.

CONTACT:

Investor and Media Relations:
Ben Strain
617-807-6688
ir@ParatekPharma.com

 

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Source: Paratek Pharmaceuticals