Paratek Expands Management Team With Appointment of John P. Dunphy as CFO
BOSTON, March 3 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. announced today the appointment of John P. Dunphy to the position of Vice President and Chief Financial Officer. As CFO, Mr. Dunphy will have overall responsibility for the Company's finance, accounting and investor relations functions, building on more than 25 years of capital markets experience on Wall Street working with private and public companies. Executive management team member Beverly A. Armstrong will continue to direct internal operations as Vice President of Administration and has been appointed to the newly created positions of General Counsel and Chief Compliance Officer, where she will focus on governance, risk management and Sarbanes-Oxley compliance. Mr. Dunphy's expertise in equity and debt syndicate efforts includes a 13- year tenure as a Managing Director of SG Cowen's Equity Capital Markets Group (1989 to 2002). At Cowen, Mr. Dunphy focused on structuring, marketing and syndicating the firm's healthcare transactions. In 2002, he assumed the role of Chief Financial Officer at Idenix Pharmaceuticals, where, among other things, he provided financial leadership during the Idenix team's negotiation of a significant collaboration with Novartis. Prior to joining SG Cowen, Mr. Dunphy served as a Senior Vice President and Syndicate Manager at Butcher & Singer, where he was also a member of the company's Board of Directors. Mr. Dunphy was also General Partner and Head of Syndicate at McDonald & Company Securities. He is active in several securities industry professional associations and is a member of the Board of Governors of the Bond Club of New York and was a member of The Syndicate Committee of the Securities Industry Association. Mr. Dunphy received his M.B.A. degree from Ohio State University and his B.A. degree in Economics from Boston College. "As Paratek prepares to enter the next stage of its life, Jack's depth of financial expertise and public markets experience, along with his track record with healthcare and biotech companies, will be invaluable to Paratek," commented Paratek Pharmaceuticals' Chief Executive Officer, Thomas J. Bigger. "Jack has directly participated in many of the success stories in this industry, particularly in his role as a managing director at SG Cowen's Equity Capital Markets Group, and we believe his perspective will be crucial in Paratek's continued success as well." Beverly Armstrong commented, "Jack is a Wall Street veteran with unmatched capabilities and expertise. We are extremely pleased that the strength and depth of Paratek's scientific platforms and product pipeline have attracted him to our management team as we near an inflection point in Paratek's history." 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 that target the need for new and potent antibacterials to overcome the problem of rapidly growing bacterial resistance. The Company's lead antibiotic clinical candidate, PTK 0796, the first product from this class, is being developed for the treatment of serious infections. Outside the antibacterial therapeutic area, Paratek has also established an internal effort to exploit its novel families of compounds and their unique mechanism of action in selected anti-inflammatory and neurodegenerative conditions. Paratek has an active chemical synthesis effort 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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