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-
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
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SOURCE Paratek Pharmaceuticals, Inc.