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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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