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April 24, 2017

Paratek and Zai Lab sign deal to commercialise omadacycline in China

Paratek Pharmaceuticals has entered a collaboration with Chinese biopharmaceutical company Zai Lab (Shanghai) to support the development and commercialisation of omadacycline in China.

Paratek Pharmaceuticals has entered a collaboration with Chinese biopharmaceutical company Zai Lab (Shanghai) to support the development and commercialisation of omadacycline in China.

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Omadacycline is a once-daily, oral and intravenous broad-spectrum antibiotic designed to be used as empiric monotherapy in patients suffering from serious community-acquired bacterial infections, as well as show antibiotic resistance.

It is used on patients suffering from acute bacterial skin and skin structure infections, bacterial pneumonia, urinary tract infections, and other community-acquired bacterial infections.

Under the collaboration, Zai Lab has received an exclusive licence to develop, manufacture and commercialise omadacycline in greater China territory, including People’s Republic of China, Hong Kong, Macau and Taiwan.

Paratek chairman and CEO Michael Bigham said: “Our successful Phase 3 efficacy studies in both skin infections and pneumonia demonstrate the potential of omadacycline to be a promising new therapeutic option for the treatment of patients with serious bacterial infections.

“This agreement with Zai Lab further validates that potential, and represents an exciting step toward making omadacycline available to the many patients in the greater China territory where there is a proven need for a new, effective, well-tolerated, IV and once-daily oral, broad-spectrum antibiotic, particularly when resistance is of concern.”

"We are very pleased to partner with Paratek to potentially bring omadacycline to Chinese patients."

Both companies have agreed to form a joint steering committee that will review and monitor all development, manufacturing and commercialisation activities.

Paratek will receive $7.5m as upfront payment for providing this licence and is also eligible for additional milestone payments based on development, regulatory and commercial milestones.

Furthermore, Paratek is entitled to receive royalty payments on omadacycline sales within the licenced territory.

Zai Lab chairman and CEO Samantha Du said: “We are very pleased to partner with Paratek to potentially bring omadacycline to Chinese patients.

“It is estimated that per capita use of antibiotics in China is significantly higher than that in the United States.

"Consequently, antibiotic resistance is becoming an increasing and severe problem for China.

“Based on the data generated by Paratek to date, we believe omadacycline has the potential to be a valuable new tool for physicians in China as they try to combat the growing antibiotic resistance problem.”

Omadacycline has already received Qualified Infectious Disease Product designation and fast-track status from the US Food and Drug Administration for the target indications.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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