Transcept and Paratek Pharma to merge
- In a merger agreement, stockholders of Paratek will become the majority owners of Transcept Pharmaceuticals.
- A group of mainly institutional investors are investing an additional $93 million in Transcept.
- One major goal of raising more money is to continue phase III development of omadacycline for treatment of community-acquired infections (CAIs).
Editor's Note: A previous version of this article incorrectly stated that omadacycline was developed by Transcept Pharmaceuticals.
The lead product candidate in Paratek’s pipeline has generated support among investors, who are eager to support the development of omadacycline—a once-daily oral and IV broad-spectrum antibiotic for serious CAI.
Omadacycline was designed to overcome resistance. In addition to addressing CAI, the company also plans to pursue approvals for cute bacterial skin and skin structure infections and community-acquired bacterial pneumonia.