Novo Holdings advances antimicrobial resistance strategy with acquisition of Paratek Pharmaceuticals

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Sep 21, 2023, 09:15 ET

Paratek's successful commercialization platform to advance novel therapies developed organically and through acquisitions
Paratek adds 'final-mile' capabilities to AMR efforts

COPENHAGEN, Denmark, Sept. 21, 2023 /PRNewswire/ -- With the closing of the acquisition of Paratek Pharmaceuticals, Inc. ("Paratek"), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, Novo Holdings reaches a significant milestone in its efforts to combat antimicrobial resistance.

Novo Holdings, the holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation and Gurnet Point, a leading healthcare investment firm, closed on the acquisition of Paratek Pharmaceuticals in a transaction valued at $462 million. This is Novo Holdings' largest individual investment in antimicrobial resistance therapies to date.

With annual revenues of greater than $100 million, Paratek is 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). NUZYRA is the first-choice antibiotic for patients with comorbidities or suspected resistant pathogens. Paratek's specialty pharmaceutical platform enables both the development and commercialization of new drugs to bring new innovative therapies to patients.

"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 Holdings' efforts to combat antimicrobial resistance (AMR) include 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. The REPAIR Fund has paused new investments given current antibiotics reimbursement policies; it continues to support its existing portfolio.

More than 3,500 people die each day from infections resistant to most or all antibiotics, and the number keeps increasing. Such infections are projected to kill more people than cancer by 2050. Advancements in this field are currently challenged by the lack of successful commercialization platforms, and reimbursement reforms.

The Novo Nordisk Foundation AMR efforts, embedded in its long-term strategy, include research grants for the discovery of new treatments for both human and animal infections, global monitoring of anti-microbial resistance genes, public awareness education campaigns, and advocacy for new payment reforms.

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people's health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novozymes A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
www.novoholdings.dk

About the Novo Nordisk Foundation

The Novo Nordisk Foundation is an independent Danish foundation with corporate interests. It has two objectives: 1) to provide a stable basis for the commercial and research activities of the companies in the Novo Group; and 2) to support scientific, humanitarian and social causes.

The vision of the Foundation is to contribute significantly to research and development that improves the lives of people and the sustainability of society. Since 2010, the Foundation has donated more than DKK 30 billion ($5 billion), primarily for research at public institutions and hospitals in Denmark and the other Nordic countries. Read more at www.novonordiskfonden.dk/en

SOURCE Novo Holdings