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Seeking Funds For Phase III Antibiotic, Paratek Files For IPO

 
• By Paul Bonanos

The Boston-based drug developer believes it has resolved the regulatory issues that led to the dissolution of a partnership with Novartis around the drug omadacycline.

Antibiotics developer Paratek Pharmaceuticals Inc. is hoping to get back on track after it halted a Phase III trial for its lead candidate due to updated FDA guidance. The subsequent delays caused partner Novartis AG to terminate a partnership for the candidate. Now Paratek hopes public investors will assume the risk that Novartis declined.

Boston-based Paratek plans to raise up to $92 million in the offering, primarily to fund late-stage trials on broad-spectrum antibiotic...

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More from United States

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• By Sarah Karlin-Smith and Derrick Gingery

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PCMA, CVS, Cigna File Lawsuits Over ‘Dangerous’ Arkansas PBM Law

 
• By Tim Casey

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Trial Cancellations And Delays Persist For CROs Amid Biotech Slowdown

 
• By Vibha Sharma

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More from North America

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• By Sarah Karlin-Smith

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US FDA May Consolidate Support Services After Extensive Cuts

 
• By Derrick Gingery and Sue Sutter

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US FDA’s Rising First-Cycle Complete Response Rate Draws Congress’ Attention

 
• By Sue Sutter

The House Appropriations Committee wants an analysis of how issues that led to CRLs could have been resolved within the first review cycle and seeks an agency crackdown on counterfeit GLP-1 agonists.