Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. represented its client, Paratek Pharmaceuticals, Inc. in a worldwide licensing agreement with Novartis for its late-stage antibiotic, PTK 0796. The antibiotic is used to treat a wide variety of life-threatening infections, including some drug resistant bacteria. The deal is estimated to be worth $485 million in milestones and fees combined, plus a royalty on global net sales. Both companies will share responsibility for developing the drug.
Representing Paratek Pharmaceuticals from Mintz Levin were Lewis Geffen and John Cheney, both Members in Mintz Levin’s Life Sciences Practice.
Massachusetts-based Paratek Pharmaceuticals, Inc. is a privately held biopharmaceutical company engaged in the discovery and commercialization of new therapeutics that treat life threatening infectious and other serious diseases. The company was founded in 1996 by Dr. Stuart B. Levy, Professor at Tufts University School of Medicine, and by Dr. Walter Gilbert, a Nobel Prize winning Professor Emeritus at Harvard University.
Mintz Levin is an international law firm representing the life science industry since its inception, and today has one of the largest life science practices in the United States. Since 2004, the firm’s life sciences practice has completed over 340 transactions including: mergers and acquisitions totaling over $7 billion; venture capital deals totaling over $1 billion; more than 50 public offerings totaling over $5.2 billion; numerous strategic collaborations valued at over $2.5 billion and dozens of other financings.
Contacts:
Mintz Levin
Gina Addis, 617-348-4413
gaddis@mintz.com
