Mintz Levin Represents Paratek Pharmaceuticals in $485M Licensing Pact with Novartis

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo said that it represented its client, Paratek Pharmaceuticals, Inc. in a worldwide licensing agreement with Novartis for its late-stage antibiotic, PTK 0796.

In a release, the firm noted that 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.

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