Novo Holdings, Gurnet Point Close Acquisition of Paratek Pharmaceuticals
Novo Holdings, controlling shareholder in drugmaker Novo Nordisk, and healthcare investment firm Gurnet Point closed their acquisition of US antibiotics specialist Paratek Pharmaceuticals in a transaction valued at $462 million. Novo Holdings said that this is its largest individual investment in antimicrobial resistance (AMR) therapies to date.
Paratek is said to be one of the largest independent antibiotics companies in the world. Its lead commercial product, Nuzyra (omadacycline), is a once-daily oral and intravenous antibiotic available in the United States for the treatment of adults with community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI).
Paratek’s specialty pharmaceutical platform enables both the development and commercialization of new drugs. The company generates annual revenues of more than $100 million.
“We are committed to maintaining Paratek’s leadership in reaching patients and delivering innovative products across the globe. We look forward to supporting the continued growth of Nuzyra, and the expansion of Paratek’s product portfolio, including the acquisition or licensing of other therapeutics in antibiotics and beyond,” said Aleks Engel, partner at Novo Holdings. “We are thrilled to partner with Gurnet Point, an investment firm specialized in commercial specialty pharmaceutical companies to advance Paratek’s growth.”
Novo Holding's activities to combat AMR include, among other things, a $165 million investment in the Replenishing and Enabling the Pipeline for Anti-Infective Resistance (REPAIR) Fund, which supports startups and early-stage companies globally, and an investment of $50 million in the AMR Action Fund supporting late-stage development companies.
