Paratek Pharmaceuticals Chairman and Co-Founder Dr. Walter Gilbert Receives Heritage Award at BIO 2002

Gilbert Won Nobel Prize for Early Contributions to Genetics Field

Jun 10, 2002, 01:00 ET from Paratek Pharmaceuticals, Inc.

    TORONTO, June 10 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. announced
 today that its chairman and co-founder Dr. Walter Gilbert, the renowned
 Harvard-affiliated Nobel Prize winner, will be receiving the 2002
 Biotechnology Heritage Award.  The Biotechnology Heritage Award recognizes
 individuals who have made significant contributions to the development of
 biotechnology through discovery, innovation, and public understanding.  Dr.
 Gilbert receives the award on Wednesday, June 12th at the BIO 2002
 International Convention and Exhibition in Toronto along with his colleague,
 Dr. Phillip A. Sharp.
     "Every industry has its giants, those entrepreneurs who make a profound
 impact in their field, enabling innovations for decades to come," says Paratek
 Pharmaceuticals' Chief Executive Officer, Thomas J. Bigger.  "Paratek is proud
 of its association with one such legend, Dr. Walter Gilbert, and we salute him
 on yet another recognition of his career achievements."
     Paratek is presenting an update on its Tetracycline and MAR (Multiple
 Antibiotic Resistance) development programs, as well as providing profiles of
 clinical product candidates that may be available for partnering, at BIO 2002
 in Toronto.  Paratek has built a library of more than 1,000 novel, proprietary
 derivatives of the well-known antibiotic tetracycline, and is currently
 developing these compounds for use in antibacterial, anti-fungal and anti-
 parasitic indications, as well as for use in other therapeutic areas including
 inflammation.  On a parallel development track, Paratek is capitalizing upon
 its patented work regarding the Multiple Antibiotic Resistance ("mar") operon,
 a novel "master switch" that controls a large set of genes in a number of
 disease-causing gram-negative bacteria. Paratek is working to identify drugs
 that can interfere with this master switch, thereby disabling bacterial
 resistance mechanisms and rendering bacterial cells ultrasensitive to anti-
 infective agents.
     Paratek Pharmaceuticals, Inc. is a private biopharmaceuticals company
 engaged in the discovery and commercialization of new therapeutics that treat
 serious and life-threatening diseases. Paratek has a particular focus on
 developing new therapeutics for the infectious disease market to combat the
 problem of antibiotic resistance.  Paratek was founded in 1996 by Dr. Stuart
 B. Levy, the world-renowned expert in antibiotic resistance and Professor of
 Molecular Biology and Microbiology and of Medicine at Tufts University School
 of Medicine, and by Dr. Walter Gilbert, the successful biotechnology
 entrepreneur and well-known Nobel Prize-winning Professor at Harvard
 University. Paratek was created to harness the 30+ years of research and
 discovery in mechanisms of antibiotic resistance and tetracycline chemistry by
 Dr. Levy and his scientific team at Tufts University School of Medicine.
 Paratek has established two product development programs, the Tetracycline
 ("TET") Program and the Multiple Antibiotic Resistance ("MAR") Program, that
 are expected to yield multiple products for the treatment of infectious
 diseases and for other therapeutic indications.
     For more information, visit Paratek's website at
    Contact:  Kate McCann                      Holly Shaw
              Paratek Pharmaceuticals, Inc.    Signova
              (617) 275-0040 x238              (404) 687-8615
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SOURCE Paratek Pharmaceuticals, Inc.