Paratek Pharmaceuticals signs licence agreement over USD 485 million
The broad-spectrum antibiotic PTK 0796, which can be administered once daily as an infusion or orally to treat various kinds of life-threatening infections, is in Phase 3 clinical trials. The cooperation agreement gives Paratek Pharmaceuticals an experienced partner for the continued development and marketing of PTK 0796. The two companies will share responsibility and costs for the further development of the product candidate.
HBM BioVentures has invested USD 6 million in Paratek Pharmaceuticals, a private company based in Boston (USA), over three financing rounds since 2001. In strict compliance with EVCA and IFRS valuation principles, the value of this investment in the books of HBM BioVentures will not be increased in spite of this positive news.
Organizations
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.