Paratek Announces New Board Member
BOSTON, Sept. 29 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. today announced the appointment of Malcolm L. Sherman to the Company's Board of Directors. Paratek is a privately held, pharmaceuticals company engaged in the development of new anti-infective therapies against drug-resistant pathogens and therapies for the treatment of serious inflammation-related diseases for which there are few effective therapies. The appointment of Mr. Sherman raises the number of Board members at Paratek to nine and is effective immediately. "Malcolm brings substantial financial expertise, and we are pleased that he has joined our Board," commented Paratek Pharmaceuticals' Chief Executive Officer, Thomas J. Bigger. "In addition to his successful stewardship of leading companies in the retail sector, Malcolm has played a prominent role in the life of the medical community, including his activities as the former chairman of the board of trustees of Tufts - New England Medical Center and as a board member of the Whitehead Institute and Massachusetts Eye and Ear, among others. We believe his expert counsel will greatly aid our transition as we accelerate the advancement of our breakthrough products." Mr. Sherman is Chairman of Gordon Brothers, Inc., a Boston-based firm providing global financial, operating and advisory services to companies at times of growth or restructuring. During his career, Mr. Sherman has headed many of the leading firms in his sector, previously holding the positions of Chairman and CEO at Channel Home Center, Inc., Regina Electric, Inc. and EKCO Group. He also had a distinguished career at Zayre, attaining the positions of Executive Vice President at Zayre Corporation and President at Zayre Stores. From 1997 to 2003, Mr. Sherman served as Chairman of the Board of Trustees of Tufts - New England Medical Center, overseeing the transition of Tufts - NEMC from the Lifespan system to its original status as an independent, free standing, not-for-profit teaching hospital. Mr. Sherman remains a governor and trustee of Tufts - NEMC. He is also Vice Chairman of the board of trustees at Brandeis University and the past Chairman of the board of trustees at the Boston Museum of Science, where he remains on the board. Mr. Sherman is also a board member of Massachusetts Eye and Ear Infirmary, the Molecular Cardiology Research Institute, Whitehead Institute and Lifespan Corporation. About Paratek Pharmaceuticals Paratek Pharmaceuticals, Inc. is engaged in the discovery and commercialization of new therapeutics that treat serious and life-threatening diseases, with a particular focus on the growing worldwide problem of antibiotic resistance. Paratek's lead programs are advancing novel compounds that can circumvent or block bacterial resistance, as well as drugs that can prevent infection by interfering with Multiple Adaptational Response (MAR) mechanisms in bacteria. Out of these efforts, Paratek has discovered a new class of antibiotics, the aminomethylcyclines (including BAY 73-7388) that target the need for new and potent antibacterials to overcome the problem of rapidly growing bacterial resistance. BAY 73-7388 is being developed in a collaborative partnership with Bayer HealthCare AG for the treatment of serious infections. Outside the antibacterial therapeutic area, Paratek has also established an internal effort to exploit the Company's novel family of compounds and their unique mechanism of action in selected anti-inflammatory and neurodegenerative conditions. Paratek has an active chemical synthesis effort within this family of compounds to produce novel and diverse small molecules, with the goal of developing non-antibacterial products with improved activity in serious diseases based upon a growing body of clinical and basic research supporting this approach. Paratek is privately held and headquartered in Boston, Massachusetts, USA. For more information, visit Paratek's website at http://www.paratekpharm.com.
SOURCE Paratek Pharmaceuticals, Inc.
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