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 www.paratekpharm.com. Contact: Kate McCann Holly Shaw Paratek Pharmaceuticals, Inc. Signova (617) 275-0040 x238 (404) 687-8615 MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X71437015
SOURCE Paratek Pharmaceuticals, Inc.