Paratek Pharmaceuticals Receives $36.4-Million Milestone Payment Associated With the Second Procurement of NUZYRA Under BARDA Project BioShield Contract
Paratek Pharmaceuticals, Inc. recently announced the receipt of a $36.4-million milestone payment associated with the second procurement of NUZYRA (omadacycline) under the company’s Project BioShield contract with the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response within the US Department of Health and Human Services.
A total of $38.1 million in procurement-related revenue was recognized by the company in December 2022 and is comprised of $36.4 million from BARDA and approximately $1.7 million in deferred revenue related to post-marketing commitments under the Project BioShield contract.
The delivery of 2,500 anthrax treatment courses of NUZYRA to BARDA followed the company’s previous announcement of positive top-line results from a pilot rabbit efficacy study evaluating NUZYRA’s effectiveness in the treatment of pulmonary anthrax. The study demonstrated a 100% survival rate in all three dose groups of omadacycline-treated rabbits at the specified endpoint of 45 days post Bacillus anthracis (anthrax) challenge, while all rabbits treated with placebo died due to anthrax infection within three days. These data will be presented at a future scientific congress.
In December 2019, BARDA awarded Paratek a contract (75A50120C00001) that is now valued at up to approximately $304 million. In addition to supporting the development of NUZYRA for both the treatment and prophylaxis of pulmonary anthrax, this contract supports the U.S. onshoring of NUZYRA and manufacturing security requirements; FDA post-marketing requirements associated with the initial NUZYRA approval; and the procurement of up to 10,000 treatment courses of NUZYRA for treatment of anthrax.
Paratek Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases or other public health threats for civilian, government and military use. The company’s lead commercial product, NUZYRA (omadacycline), is a once-daily oral and intravenous antibiotic available in the US for the treatment of adults with community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI). Paratek has a collaboration agreement with Zai Lab for the development and commercialization of omadacycline in the greater China region and retains all remaining global rights.
Paratek is also conducting a Phase 2b study with NUZYRA in a rare disease, non-tuberculous mycobacterial (NTM) pulmonary disease, caused by Mycobacterium abscessus complex. Paratek estimates this opportunity represents a potential $1 billion addressable market in the US.
Paratek exclusively licensed US rights and rights to the greater China territory for Seysara (sarecycline), a once-daily oral therapy for the treatment of moderate to severe acne vulgaris, to Almirall, LLC. Paratek retains the development and commercialization rights for sarecycline in the rest of the world. For more information, visit www.ParatekPharma.com.
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