Paratek Pharmaceuticals Announces Promotion of Evan Loh, M.D. to the role of President and Chief Operating Officer
January 04 2017 - 8:00AM
- Evan Tzanis promoted to Senior Vice
President, Clinical Development and Clinical Operations
Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK), a biopharmaceutical
company focused on the development and commercialization of
innovative therapies based upon tetracycline chemistry, announced
today that Evan Loh, M.D. has been promoted to the role of
President and Chief Operating Officer. Dr. Loh, who is also a
member of Paratek’s board of directors, had served in the role of
President and Chief Medical Officer since 2014. He will continue to
retain the title of Chief Medical Officer and will continue to
report to Michael Bigham, Chief Executive Officer & Chairman.
“Under Evan’s leadership, Paratek has seen
remarkable growth and achieved significant clinical success in
advancing our lead product candidate towards the market,” said
Michael Bigham, Chairman and Chief Executive Officer, Paratek.
“Widely respected by Paratek employees and across the
pharmaceutical and biotech industry, Evan is an experienced,
thoughtful and committed leader. I have complete confidence
in his ability to guide the company as we approach critical
clinical and regulatory milestones.”
Additionally, the company announced that Evan
Tzanis has been promoted to Senior Vice President, Clinical
Development and Clinical Operations. Evan has successfully led
clinical development efforts at Paratek since joining Paratek in
2014. Jeanne Jew, who joined Paratek in 2015, has been promoted to
Senior Vice President, Business Development. Both Mr. Tzanis and
Ms. Jew will report to Evan Loh.
“It is gratifying to recognize the contributions of
both these professionals to our company,” said Evan Loh, M.D.,
President and Chief Operating Officer. “We are fortunate to have
talented and experienced individuals throughout our organization.
The expanded roles of both Evan and Jeanne continue to strengthen
our leadership team. We look forward to their future
contributions as we move toward prospective NDA approval and
commercialization of omadacycline.”
About Paratek Pharmaceuticals,
Inc. Paratek Pharmaceuticals, Inc. is a biopharmaceutical
company focused on the development and commercialization of
innovative therapies based upon its expertise in novel tetracycline
chemistry. Paratek's lead product candidate, omadacycline, is the
first in a new class of tetracyclines known as aminomethylcyclines,
with broad-spectrum activity against Gram-positive, Gram-negative
and atypical bacteria. In June 2016 Paratek announced positive
efficacy data in a Phase 3 registration study in ABSSSI
demonstrating the efficacy and safety of intravenous (IV) to
once-daily oral omadacycline compared to linezolid. A Phase 3
registration study for community acquired bacterial pneumonia
(CABP) comparing IV-to-once daily oral omadacycline to IV-to-oral
moxifloxacin was initiated in November 2015. Paratek will report
top-line data from this study during the second quarter of 2017. A
Phase 3 registration study in ABSSSI comparing once-daily oral-only
dosing of omadacycline to twice-daily oral-only dosing of linezolid
was initiated in August 2016. Top line data are expected as early
as the second quarter of 2017. A Phase 1B study in uncomplicated
urinary tract infections (UTI) was initiated in May 2016 and
positive top-line PK proof-of-principle data was reported in
November 2016. Omadacycline has been granted Qualified
Infectious Disease Product designation and Fast Track status by the
U.S. Food and Drug Administration.
Omadacycline is a new once-daily oral and IV,
well-tolerated broad spectrum antibiotic being developed for use as
empiric monotherapy for patients suffering from serious
community-acquired bacterial infections, such as acute bacterial
skin and skin structure infections, community acquired bacterial
pneumonia, urinary tract infections and other community-acquired
bacterial infections, particularly when antibiotic resistance is of
concern to prescribing physicians.
Paratek's second Phase 3 product candidate,
sarecycline, is a well-tolerated, once-daily, oral, narrow spectrum
tetracycline-derived antibiotic with potent anti-inflammatory
properties for the potential treatment of acne and rosacea in the
community setting. Allergan owns the U.S. rights for the
development and commercialization of sarecycline. Paratek retains
all ex-U.S. rights. Allergan initiated two identical Phase 3
registration studies in December 2014 for sarecycline for the
treatment of moderate to severe acne vulgaris. Top line data are
expected in the first half of 2017.
For more information, visit
www.paratekpharma.com.
Forward Looking StatementsThis
press release contains forward-looking statements including
statements related to our overall strategy, product candidates,
clinical trials, cash resources, prospects and expected results,
including statements about the timing of advancing omadacycline and
otherwise preparing for clinical trials, the potential for
omadacycline to serve as an empiric monotherapy treatment option
for patients suffering from ABSSSI, CABP, UTI, and other bacterial
infections when resistance is of concern, the prospect of
omadacycline providing broad-spectrum activity, and our having the
resources to execute on our clinical trials. All statements, other
than statements of historical facts, included in this press release
are forward-looking statements, and are identified by words such as
"advancing," "believe," "expect," "well positioned," "look
forward," "anticipated," "continued," and other words and terms of
similar meaning. These forward-looking statements are based upon
our current expectations and involve substantial risks and
uncertainties. We may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in our
forward-looking statements and you should not place undue reliance
on these forward-looking statements. Our actual results and the
timing of events could differ materially from those included in
such forward-looking statements as a result of these risks and
uncertainties, which include, without limitation, risks related to
(i) our need for substantial additional funding to complete the
development and commercialization of our product candidates, (ii)
our ability to raise the capital to do so, (iii) our ability to
develop our drug candidates for potential commercialization, (iv)
the advancement of omadacycline Phase 3 trials for ABSSSI and CABP,
(v), (v) the potential for omadacycline to be successfully
developed for use as a first-line empiric monotherapy for patients
suffering from serious community-acquired bacterial infections,
(vi) the potential of omadacycline to become the primary antibiotic
choice of physicians for the treatment of serious
community-acquired bacterial infections, (vii) the ability of our
supply chain to provide adequate supply to satisfy our clinical and
commercial demand (viii) the potential use and effectiveness of
sarecycline for the treatment of acne and rosacea in the community
setting, and (ix) the timing of the Phase 3 program in
moderate-severe acne for sarecycline, risks that data to date and
trends may not be predictive of future results, risks related to
the conduct of our clinical trials, and risks that our clinical
trials and product candidates do not receive regulatory approval.
These and other risk factors are discussed under "Risk Factors" and
elsewhere in our Annual Report on Form 10-K for the year ended
December 31, 2015, and our other filings with the Securities and
Exchange Commission. We expressly disclaim any obligation or
undertaking to update or revise any forward-looking statements
contained herein.
CONTACTS:
Media:
Michael Lampe
Scient Public Relations
(484) 575-5040
michael@scientpr.com
Investors:
Hans Vitzthum
LifeSci Advisors, LLC.
212-915-2568
Paratek Pharmaceuticals (NASDAQ:PRTK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Paratek Pharmaceuticals (NASDAQ:PRTK)
Historical Stock Chart
From Sep 2023 to Sep 2024