Bayer and Paratek Pharmaceuticals Sign Collaboration Agreement for the Novel Antibiotic BAY 73-6944/PTK 0796

LEVERKUSEN, Germany and BOSTON -- Bayer AG, Bayer Pharmaceuticals Corp., USA and Paratek Pharmaceuticals, Inc., USA have signed a collaborative development and license agreement for the novel aminomethylcycline antibiotic BAY 73-6944/PTK 0796.

Infections in hospitals are becoming increasingly difficult to treat in large part because of rising bacterial resistance, and new antibiotics with different mechanisms of action are needed. BAY 73-6944/PTK 0796 is a novel antibiotic compound being investigated for the treatment of bacterial infections and is currently in preclinical development. It is the first lead compound selected from a novel group of antibiotics discovered by Paratek, the aminomethylcyclines (AMCs), and has demonstrated broad antibacterial spectrum and particularly potent activity against gram-positive bacteria that are resistant to conventional antibiotics in preclinical testing.

"Bayer has a long history in antibiotics, and we are committed to further antibiotic development and to strengthening our hospital franchise. BAY 73- 6944/PTK 0796 would complement our existing antibiotic portfolio and is expected to fill an important medical need," said Dr. Wolfgang Plischke, head of Bayer HealthCare's Pharmaceuticals Division.

"Bayer's commitment to developing lifesaving antibiotics makes them an ideal partner. We look forward to initiating clinical trials and further advancing this promising product with them," said Thomas J. Bigger, president and CEO of Paratek Pharmaceuticals. "This agreement supports our strategy to develop relationships with established pharmaceutical companies that have the capability, expertise and substantial infrastructure to help successfully develop and market innovative products worldwide. Bayer's participation underscores our approach of utilizing the knowledge of bacterial resistance and our proprietary medicinal chemistry expertise to create new classes of antibiotic compounds that will help address the problem of antibiotic resistance."

The agreement provides Bayer a global, exclusive patent and know-how license for the development, manufacturing and marketing of injectable preparations of BAY 73-6944/PTK 0796. According to the agreement, Paratek will contribute to global development costs, retain co-promotion rights and share profits in the U.S., and receive royalties on net sales outside the U.S. In addition Paratek is entitled to receive upfront payments, access to development funds through a convertible funding vehicle and milestone payments during development.

Source: Paratek Pharmaceuticals, Inc.; Bayer AG