Paratek Appoints Dennis Molnar Executive Director of Corporate Development; Molnar Steps Up Evaluation of Potential Development Partners

Apr 17, 2001, 01:00 ET from Paratek Pharmaceuticals, Inc.

    BOSTON, April 17 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. announced
 the appointment of Dennis Molnar as Executive Director of Corporate
 Development today.  Molnar will apply a decade of experience in the
 pharmaceutical and biotechnology industries to cultivate partnerships that
 will advance Paratek's novel anti-infective products to market.  Products
 emerging from Paratek's innovative Tetracycline and MAR (Multiple Antibiotic
 Resistance) Programs are designed to address the major worldwide problem of
 antibacterial resistance.
     "We feel our partnership with GlaxoSmithKline on the Tetracycline program
 has been tremendously successful and we are confident that with the breadth
 and potential of our technologies we can replicate that success with
 additional partners.  We have had great success in developing more
 applications for our Tetracyclines and small molecule products from our MAR
 Program that represent additional opportunities for partnering," says Tom
 Bigger, Chief Executive Officer of Paratek.  "Dennis' mission is to find the
 good matches and make the deals happen."
     Molnar was previously President of JBI Associates, LLC, a software and
 consulting services firm to hospital pharmacies.  Prior to serving at the helm
 of JBI Associates, Mr. Molnar served as Director of Finance and Business
 Development of Magainin Pharmaceuticals Inc. from 1998 to 2000.  Before
 receiving his MBA in Healthcare Management from the Wharton School of
 Management, he held a series of positions at Bogart Delafield Ferrier, Inc., a
 strategic management consulting firm to the pharmaceutical and biotech
 industries.
     "Paratek's research programs represent rare development opportunities for
 established industry," says Molnar.  "They're tackling a big problem, which
 means a healthy market potential.  And, while they're a relatively new entity
 with novel technologies, those technologies are the result of over twenty
 years of research in antibiotic resistance.  Paratek is looking for the right
 partners to move quickly to convert their knowledge into health care solutions
 for a growing public health problem."
 
     Paratek is a privately-held specialty pharmaceuticals company,
 headquartered in Boston, Mass., which is engaged in the discovery and
 commercialization of novel therapeutics that treat life-threatening infectious
 disease agents, including those that have become resistant to existing
 antibiotic treatments.  Paratek was founded in 1996 by Dr. Stuart B. Levy,
 Professor of Molecular Biology and Microbiology and of Medicine at Tufts
 University School of Medicine, and by Dr. Walter Gilbert, the Nobel
 Prize-winning Professor at Harvard University.  Paratek was created to harness
 the 20 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.  In 1999, the Company announced a research
 collaboration with GlaxoSmithKline plc (formerly Glaxo Wellcome plc) for the
 development of new anti-infective products.
 
    CONTACT:  Beverly Armstrong                   Holly Shaw
              Paratek Pharmaceuticals, Inc.       Signova
              (617) 275-0040 x216                 (404) 688-2764
 
 

SOURCE Paratek Pharmaceuticals, Inc.
    BOSTON, April 17 /PRNewswire/ -- Paratek Pharmaceuticals, Inc. announced
 the appointment of Dennis Molnar as Executive Director of Corporate
 Development today.  Molnar will apply a decade of experience in the
 pharmaceutical and biotechnology industries to cultivate partnerships that
 will advance Paratek's novel anti-infective products to market.  Products
 emerging from Paratek's innovative Tetracycline and MAR (Multiple Antibiotic
 Resistance) Programs are designed to address the major worldwide problem of
 antibacterial resistance.
     "We feel our partnership with GlaxoSmithKline on the Tetracycline program
 has been tremendously successful and we are confident that with the breadth
 and potential of our technologies we can replicate that success with
 additional partners.  We have had great success in developing more
 applications for our Tetracyclines and small molecule products from our MAR
 Program that represent additional opportunities for partnering," says Tom
 Bigger, Chief Executive Officer of Paratek.  "Dennis' mission is to find the
 good matches and make the deals happen."
     Molnar was previously President of JBI Associates, LLC, a software and
 consulting services firm to hospital pharmacies.  Prior to serving at the helm
 of JBI Associates, Mr. Molnar served as Director of Finance and Business
 Development of Magainin Pharmaceuticals Inc. from 1998 to 2000.  Before
 receiving his MBA in Healthcare Management from the Wharton School of
 Management, he held a series of positions at Bogart Delafield Ferrier, Inc., a
 strategic management consulting firm to the pharmaceutical and biotech
 industries.
     "Paratek's research programs represent rare development opportunities for
 established industry," says Molnar.  "They're tackling a big problem, which
 means a healthy market potential.  And, while they're a relatively new entity
 with novel technologies, those technologies are the result of over twenty
 years of research in antibiotic resistance.  Paratek is looking for the right
 partners to move quickly to convert their knowledge into health care solutions
 for a growing public health problem."
 
     Paratek is a privately-held specialty pharmaceuticals company,
 headquartered in Boston, Mass., which is engaged in the discovery and
 commercialization of novel therapeutics that treat life-threatening infectious
 disease agents, including those that have become resistant to existing
 antibiotic treatments.  Paratek was founded in 1996 by Dr. Stuart B. Levy,
 Professor of Molecular Biology and Microbiology and of Medicine at Tufts
 University School of Medicine, and by Dr. Walter Gilbert, the Nobel
 Prize-winning Professor at Harvard University.  Paratek was created to harness
 the 20 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.  In 1999, the Company announced a research
 collaboration with GlaxoSmithKline plc (formerly Glaxo Wellcome plc) for the
 development of new anti-infective products.
 
    CONTACT:  Beverly Armstrong                   Holly Shaw
              Paratek Pharmaceuticals, Inc.       Signova
              (617) 275-0040 x216                 (404) 688-2764
 
 SOURCE  Paratek Pharmaceuticals, Inc.